1. Criteria for setting priority. How is priority established? Is priority guaranteed by the fact of presenting firstly a document against other document that is potentially incompatible?
Criterion for setting priority is LR presentation entry and its date. The Journal Number (G.N. ) is stamped on the application and on the attatched documents at the moment of presentation.
If two applications regarding the same property and rights are presented in the same day, it prevales the one which has the prior GN.
This criterion is strict. However, LR Law provides exception to the principle, such as Postergazione del grado.
It is possible to change the order of priority for certain rights such us mortgages, under specific circumstances. First of all, it is necessary the consent of the right which has a priority.
Ex: Mortgage GN 1000/2008 for Bank X
Mortgage GN 1000/2010 for Bank Y
With the consent of Bank x it is possible to change the order of priority is there is not other registration in LR book between the two entries.
Reservation of priority: Art. 53 of LR Law provides the so called annotazione dell’ordine di grado.
The holder of a real right on an immovable can reserve priority in favour of someone in case of a future transfer. The effects of this reservation are valid only if the transfer is performed within 50 days.
However, this peculiar procedure is not very much in use.