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Real Estate

Iason Skouzos - TaxLaw > Practice Areas  > Real Estate (Page 3)

Illegal constructions – amnesty laws

In Greece,  construction of buildings in excess of structural requirements and constraints  provided by law, is quite widespread and common. For instance, it is very common that a flat is built in excess of the building permission and, for example, it has an actual surface of 200 sq.m. although the building permission is for 150 sq.m. Also, it is very common that houses or other buildings are constructed with no permission at all. This ubnormality is so common, that on the one hand the State looses income related to property ownership and use and on the other hand, if the...

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Procedure of property transfer

The procedure of a property acquisition usually has the following steps: 1.Finding of the property, with the possible contribution of an estate agent. The estate agent's fee is not specified by law, but is subject to an agreement. Usually a fee of a percentage of 2% of actual price paid for the property is agreed in writing, but this may vary, depending on property value and other factors. 2.Legal due diligence (title search) of the property. After finding the property of his choice and before signing any contract, the buyer should assign to a lawyer the complete legal due diligence of the property. It...

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Recordation of ownership rights

The recordation, i.e. the inclusion in public records, kept by public officials, of acts of any change of the real property ownership rights, ensures the compliance with the publicity of the  property relations, as well as the protection of  transactions. According to article 1192 of Civil Code, the acts that must be recorded are the following: 1) the inter vivos transactions, including donations causa mortis, by which a real right on a property is established, transferred or abolished, 2) the adjudications or the annexations by the authorities or the award of ownership or other real rights on the property, 3) the...

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City-planning & environmental limitations

The Constitution of Greece in Article 24 provides for special preventive or repressive measures, in order to preserve the natural and cultural environment. In particular, special reference is made to the protection of forests,  the master planning of the country, the arrangement, the development, the urbanization and the expansion of towns and  residential areas, as well as at the protection of traditional sites and monuments. Within the above mentioned protection, transfer of ownership and granting of limited real rights  in real estate property may be prohibited, limited or subject to a special permit of the  Authorities, under special laws. Such restrictions and prohibitions...

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Ways of acquiring ownership of property in Greece

The following ways of acquiring  property are the most common under Greek Law: 1) acquisition by contract, i.e. a written agreement between the owner and the buyer on the transfer of ownership from a legitimate source, that must be made before a notary and be recorded (or registered). 2)   acquisition by virtue of succession, whether testate or intestate, 3)acquisition  by gift  or by  parental grant, 4) acquisition of property by auction, i.e. by act of compulsory enforcement,  brought  against the debtor's property, where the ownership of property is finally acquired by the highest-bidder. 5) acquisition  by the person who, in good faith, is in possession...

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