Propery Law

Property Law

Buying property in Greece

If one wishes to purchase real estate in Greece, the purchase of Greek property is governed by the Astikos Kodikas (Greek Civil Code), which a notarised contract of sale and entry in the Ipothikofilakio (Land Charges Register) or Ktimatologio (Land Register) is required for the purchase.

The accession of title to a property is only complete upon entry in the Greek Land Register.

In addition to the contract of sales’ special regulations, the sale is entered in the Greek Land Register (Ipothikofilakio or Ktimatologio) who has jurisdiction for specific municipalities. The law introducing the Ktimatologio switched the previous name- based registers to a property-based Land Registry system. As this conversion has not yet taken place throughout Greece, this means that in some regions the Land Registers continue to be kept according to person (Ipothikofilakio) to a certain extent. When verifying the ownership status, an entry is verified in terms of the name of the respective vendor and not in terms of ownership status on the basis of entries under the plot numbers. Because of this peculiarity Land Register searches by a lawyer are indispensable in Greece.

The contract of sale

Greek property transactions are put into effect by concluding a notarised, precisely worded contract of sale. The object of purchase is described accurately with the sale price and proposed settlement date, including rescission rights and contractual penalties in the event of late payment and/or rescission of the contract of sale, prior transfer of title in the Land Register.
Land Register in Greece
Under the Greek Civil Code, a change of title is effected upon registration with the Land Registry having jurisdiction for the real estate. Payment of the sale price or the residual sale price takes place at the same time as the notary’s record is drawn up and is established in the notarised record.

Payment of land transfer tax is a prerequisite for transfer of title, which is usually carried out by lawyers.

Register of titles in Greece

The Land Registry (Ipothikofilakio or Ktimatologio) has jurisdiction for specific municipalities. Greek Land Registers are recorded by person (Ipothikofilakio) rather than plot. When searching the Land Register, an entry is therefore verified in terms of the potential owner’s name, whether and when he/she became the owner and by virtue of which legal deed, whether encumbrances, easements, legal disputes, have been registered, etc. A decision has been taken to modernise the Greek Land Register practice to alleviate the difficulties arising when verifying ownership status which has been summed up under the term “Ktimatologio”.

Ktimatologio / Land Register in Greece

The Greek Land Register operated according to plots and not owners as well as public faith, in what is entered under the plot.  This has been under construction for some time and has come into force in numerous Greek regions.  In addition the Greek Land Register/Ktimatologio has so far been implemented in two stages.

Mandatory representation by lawyers for property sale contracts in Greece

Representation by lawyers for a Property sale contract is not mandatory by law in Greece, however buyers of real estate are practically always represented by a lawyer. The lawyer carries out the Land Register searches, draws up the contract and also signs the contract of sale, while ensuring the buyer’s rights are adequately secured during the transaction.

Entaxi has agreements with a number of Real Estate Agents and Legal Representatives across Greece and we can also instruct land surveyors and property valuers to prepare detailed reports for any property you’re planning on buying or selling.

For assistance with any property matters, please speak with one of our consultants.