The unfavorable consequences of the bankruptcy revocation can then have repercussions on third parties who have purchased from the first buyer, who will be able to say they are protected from the negative effects only after having ascertained that their seller has not in turn purchased from a construction company and, if so, that more than two years have passed since the purchase without the company having been declared bankrupt.
The Court of Cassation has in fact clarified (sentence 2423 of 21 March 1996) that 'the revocation action can be brought by the trustee not only against the first buyer from the bankrupt, but also against the assignees (purchasers' note) from the latter, when they are buyers in bad faith' and only after the bankruptcy revocation has been exercised against the first buyer and, therefore, the first deed of sale has been rendered ineffective. '...the bad faith of the first sub-purchaser consists...in the knowledge that the immediate purchaser from the bankrupt at the time of the first act of the series was aware of the state of insolvency of the bankrupt himself'.
The mortgage. Also interesting are the repercussions of the bankruptcy revocation on the mortgage that the buyer may have taken on at the time of purchasing the property as a method of payment of the sale price. The jurisprudence has specified that, in the case in which - as a result of the revocation - a real estate purchase and sale contract with the assumption of a loan guaranteed by a mortgage which weighs on the property itself ceases, the buyer's obligation to pay and therefore the assumption of the mortgage ceases at the same time. The bankruptcy of the real estate agent, in this case, remains the only one obligated to repay the sum given as a loan.
source: Il Sole 24 Ore
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