Banking, Contracts, Land Credit, Exceeding the financing limit, Nullity, Civil Cassation, Section I, Interlocutory Ordinance n. 4117 of 09/02/2022

Art. 38, paragraph 2, of the legislative decree n. 385 of 1993, Consolidated Banking Act

Resolution of the Interministerial Committee for Credit and Savings (CICR) of 22 April 1995

The First Civil Section, has handed over the documents to the First President, for the possible assignment to the United Sections, of the issue considered to be of the utmost importance if, in terms of land credit, in the event of exceeding the financing limit pursuant to art. 38, paragraph 2, of the legislative decree n. 385 of 1993, the contract must be considered null, with the possibility, however, of conversion into an ordinary mortgage loan where the relevant conditions exist, or if this consequence cannot be configured in the absence of the imperative nature of the violated rule.

Source Supreme Court of Cassation