Real Estate

Important Things To Know On Property Legalization In Greece

Crane Lowering Girders to Two Builders

Are you interested in investing, buying, or selling real estate properties in Greece? We got you covered. In this article, we will guide you on the νομιμοποίηση ακινήτων in Greece. Without further ado, let’s start:

In Greece, real estate laws can be very strict compared to other countries. Transactions cannot take place without a certification issued by a civil engineer. This certification should state that the real estate property does not have illegitimate improvements, construction, or components.

Because of this, inspection by a civil engineer is also required in addition to the various other paperwork required for real estate transactions. 

This means that more work is needed to register a deed to the local land registry, which is normally done by the lawyers of concerned parties to make sure that the real estate transaction is legal.

The role of an engineer in a real estate transaction is to guarantee and certify that either the land, building or the plot does contain any problems in terms of building restrictions.

The reason for an increased restriction

In Greece, a lot of buildings, properties, structures, and apartments happen to be constructed with minimal or substantial violations of the building code. Buildings that are finished prior to July 28, 2011 may be made legal within specific circumstances, such as paying penalties and fines. However, buildings that are constructed after the date stated above are not allowed to be made legal. Therefore, all new buildings before July 28, 2011 should be brought down and demolished in accordance with the law.

Consequences for unlawful real estate properties in Greece

On the other hand, the most severe punishment for any unlawful buildings built after the date 28 July 2011 has passed, or if built at an earlier date but was not made legal is quite severe. Any violating properties cannot be sold, transferred, or gifted using any means. With this in mind, properties that are in violation effectively lose their market value.

Therefore, buying or selling a property in Greece should come with extra caution that is not needed in other country’s markets. Property sales or exchanges cannot occur except if the property or home is verified as lawful or made legal.

Exceptions to this rule

Houses that are constructed before 1955 are not required to go through the legalization procedures discussed in this article.

The legislation concerning the legalization procedure was updated not too long ago. The amendment provides new rules for properties that are owned by more than one person, company, or party, and if the parties do not agree to adhere to the process of legalization. This revision provides a way for co owners who wants to legalize their property but they are being held back by other co owners who don’t want to legalize. Having said that, this revision provides a disadvantage for the party initiating the legalization, since they will have to pay for the fines and legalization fees. It is still better than nothing though, and a great last option.

About the author

Patrick

Patrick

Patrick Ballino created Festival of News Magazine and he loves writing about Arts and Entertainment. He and his team love creating content for their audience.