One of the most important sections of
financial activity in Greece, is the conveyance of Greek real estate property.
The procedure of Greek real estate property acquisition is quite simple.
However, for a safe
conveyance, it is necessary for some issues concerning the property to be
settled, prior to the Deed's execution.
Buying and selling Greek real estate property is implemented only by executing
a Notarial Deed before a Greek Notary Public. Buying Greek real estate property
is accomplished through the registration of the Notarial Deed, before the
competent Greek Land Registry (Ypothikofilakeion) and/or the Land Registry
Cadastral (Greek Ktimatologio) of the property's location.
The first and indispensable legal step, before the execution of the Deed, would
be to conduct a title search on the Greek real estate property to be sold,
before the relevant archives of the competent Land Registry (Ypothikofilakeion)
and / or the Land Registry Cadastral (Ktimatologio) of the property's location.
A qualified Greek lawyer needs to conduct the title search for the Greek real
estate property. Through this and through reviewing all relevant listings
either under the name of the owner regarding the Greek real estate property, as
depicted in the Land Registry archives or under the entries, noted under the
specific property (in areas where the Land Registry Cadastral is already in
effect), the absence of legal flaws is ensured, as well as the lack of
registered burdens, lawsuits, seizures, mortgages imposed against the property.
Against to what might be in effect in other countries, the Notary Public is not
obliged to investigate the status of the property and of the facts that the
parties provide him with. The Notary Public in Greece, is only responsible for
the execution of the Notarial Deed, while the contracting parties (through their
Greek Lawyer) are responsible for the investigation and the accuracy of the
facts provided to him.
Selling Greek real estate property can be freely remitted abroad without any
restrictions.
Greek law on conveyances of Greek real estate property, provides a number of
restrictions to the buying of Greek real estate property in certain areas,
which have been characterized as “border areas”. These restrictions apply to
foreigners for national security reasons. For the execution of any conveyance
Deed within these areas, a permission by the National Board of Defense /
Ministry of Defense is required; permission which is granted only in rare
cases. The above permission is not required for people who have Greek
Nationality or are descended from Greek parents. All Greek Americans and Greek
Australians are of Greek descent. An exemption from this restriction applies to
citizens of the European Union, as well.
For the execution of the Conveyance Deed in Greece, a number of documents are
required (i.e. issuance of tax registration number, certificate of tax
clearance, certificate that there is no Inheritance / Gift tax due if the
property was acquired by the seller through Inheritance or Gift, Municipal Tax
clearance, copy of the building permit, in case that the building was raised
later than 1983, issuance of a topographic diagram, when plots are conveyed,
etc.); additionally, the submission of the conveyance tax statement, by virtue
of which the parties declare to the tax authority the payment of the imposed
tax, is indispensable. The Greek Notary Public is obliged to attach to the
Conveyance Deed, a copy of the submitted conveyance tax statement, as well as
the receipt of payment of the conveyance tax imposition.
All the above procedures for Greek real estate property, can be accomplished
through a Limited Power of Attorney to a specialized Lawyer in Greece, like our Greek Law Office.
“The content of this website do not constitute legal advice and under no circumstances should they be considered as such, until our office is retained and has reviewed the complete file of the client’s case”