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at a glance
Real Property
Ownership of real property in Greece entails a “Simvolaio”, a registered notarial deed under your name, recording at the “Ypothikogilakio” (Land Registry), and with the “Ktimatologio” (Cadastral). Property owners need to have a tax identification number (AFM), pay property tax (ENFIA) and declare any income they may have from the property. Transferring property requires a number of certificates, including from the tax authority as well as topographic diagrams, the electronic building ID etc. A title search to confirm clear title is best practice before any property conveyance. Our experienced attorneys can represent you in any real property matter with a limited power of attorney.
Our team of Greek associates will take care of the management of your real estate in Greece. We will help you maintain, lease, buy or sell property, address possession and title issues, clearances, permits and land registries (Κτηματολόγιο). Our team will work tirelessly to protect, manage and maintain your interests in real estate in Greece.
Buying Real Property
Are you considering buying a property in Greece?
If you have decided on a property, we can assist you with a Limited Power of Attorney to negotiate terms of sale and transfer title to your name, without you needing to be in Greece. A title search in the competent Greek Land Registry by an experienced Greek lawyer is absolutely necessary to assure transfer of “clear title”. Property in areas characterized as “border” will necessitate an acquisition permit. Your attorney will review all the certificates the seller needs to procure, will confirm the taxable and the fair market value of the property, take care of relevant currency, legal and taxation procedures, and arrange for the execution of the sale Deed and its proper registration with the competent Land Registry in Greece.
Selling Real Property
Are you in the process of selling a property in Greece?
If you wish to sell your property in Greece, we can assist you with a Limited Power of Attorney to negotiate terms of sale, secure your interests, and transfer title to the buyer without you needing to be in Greece. We will procure the numerous certificates you as the seller need to provide (for example, the Land Registry, Tax, Municipal Tax and Property Tax clearances, building certifications e.t.c.), and take care of the execution of the Deed and any wire transfers of the sale proceeds to your foreign or Greek bank account.
Land Registry and Cadastre Registrations (Ktimatologio)
Title to property ownership is traditionally registered with the Land Registry “Ypothikofylakeio” with authority over the area where the property is located. Land Registries operate the “system of transcription and mortgages” where registration of ownership takes place on personal folios under the name of the owner/beneficiary.
Since 2003, property ownership should also be registered with The Hellenic Cadastre “Ktimatologio”. This registry calls for immediate submission of the Title(s) (“Symvolaio”) from the Land Registry, as well as topographic diagrams for those owning property to areas in Greece proclaimed under registration. The cadastral system registration is property based.
Title Search
Before the execution of a real property transfer Deed, the first and indispensable legal step is a title search at the registries of the property’s location. The search will reveal any burdens, encumbrances or inconsistencies in the title ownership succession and will assure “clear title”.
The Notary who will execute and notarize the Deed is not obliged to investigate the status of the property or the accuracy of the facts that the contracting parties provide. The responsibility for the accuracy rests with the parties.
A qualified Greek lawyer needs to conduct the title search before the relevant archives of the competent Land Registry (Ypothikofilakeion). The attorney will review all the relevant listings under the name of the owner and any other person that may have interest in the property. This will be followed by a search at the Hellenic Cadastre “Ktimatologio” in areas where it is already in effect.
Trespassing of property in Greece - Adverse possession
Adverse possession or squatter rights (“Hrisiktisia”) is a way for a person without legal rights to acquire property in Greece. When a person exercises acts of possessing real property, acting as if they owned that property, they may eventually (10-20 years) acquire full legal ownership. We have seen this happen to owners when they have neglected the legal, tax and actual status of their property. We have also seen this with owners who believe someone else is taking care of their property, for example a relative, a friend, a local acquaintance, a neighbor etc. Then they find out that they have lost that property to the very persons they trusted through adverse possession.
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