Family Trusts: Limits on foreclosure and/or repossession.
The Supreme Court with its decision n. 8201 27 April 2020 pinpointed the limits of the foreclosure procedure with regards to family trusts. Family trusts, relate to a specific statutory institution, whereby a separated and tied-up wealth can be constituted to satisfy exceptional family needs; indeed it includes assets that cannot be subjected to repossession to extinguish debts that the creditor knew were contracted for purposes unrelated to the needs of the family.
This decision has given the Court a chance to specify the nature of the assets that make-up the trust therefore cannot be foreclosed.