Legal Assistance During Real Estate Transactions
The law office of Mrs Kasatkina–Kouskou Svetlana, which is situated in a convenient location of the central Athens area, provide full legal support on real estate transactions throughout Greece. Specifically, prior to the acquisition of the real estate owner's status by a client, the complete report is going to be filled by the above mentioned lawyer. The Property Register inspection at the competent Land Registry or/and Cadastral Office with a view to confirm the seller’s ownership and also to check the legal “purity” of the property for the last 20 years (checking if the property has any legal defects, encumbrances, claims, etc.) – are the necessary steps for purchasing real estate.
The Experts of our Law Office can definitely:
• ensure the legality of the transaction if you intend to either purchase or sell your real estate
• provide to you any information and legal support in order to gather the appropriate documentation and to accomplish any action required for the completion of the real estate transaction
• if you so wish, we will be at your side and after the completion of the sale, ready to provide you with any legal support in the future
In summary, the procedure to be followed for purchasing a property in Greece, after finding it, shall be as follows:
I. INSPECTING THE PROPERTY IN LAND REGISTRY – CADASTRAL OFFICE
Firstly the potential purchaser’s lawyer should check a number of issues concerning the property at the territorially competent Land Registry or/and Cadastral Office. It is the one of the most important steps of the property purchase. The inspection is carried out to determine:
• whether the item of property for sale is free of liens (mortgage, forfeiture, claims by any natural or legal person or by the State or other public entities).
• whether all the terms and conditions of the legislation on the acquisition of property are met by the seller or his predecessors.
The inspection should cover at least twenty (20) years, before the upcoming purchase of property with a view to ensure that the buyer is covered from any legal defect of the property which is out for sale, in order to avoid any problems in the future.
After the completion of the inspection and provided the property has no liens, the lawyer shall take the appropriate certificates from the Land Registry and shall represent the client before the notary public.
II. INSPECTION OF THE PROPERTY IN CITY PLANNING COMMISSION
The contributor engineer of our law office, acting on behalf of the potential purchaser, continues the inspection of the property item at the territorially competent City Planning Commission. The above mentioned engineer also examines the building permit of the property to determine whether there are any town planning violations or overruns relating to the permit.
III. TAX PAYMENT TO THE PUBLIC FISCAL SERVICE
In order to draw up the contract, the buyer has to pay in advance the local taxes at the locally competent Public Fiscal Service. The taxes for the property which is out for sale are calculated based on its objectively assessed value.
If it is ascertained by your lawyer that the property’s ownership deeds are in full legal order, then you have to arrange the payment of the Real Estate Transfer Tax to the aforementioned Tax Office. This payment has to be completed before signing the purchase contract.
IV. DRAWING UP CONTRACT
After the tax payment the reading and the signing of the purchase contract are following. The contract is to be drawn up by a Notary Public under the guidance and the supervision of your specialized lawyer. In this process, both parties have to be present and also the contract has to be signed by both the buyers and the sellers or/and their attorneys. Since that point this contract has become a title for the buyer stating his or her ownership of the property. Throughout the duration of reading the contract your lawyer shall explain to you all the points of the text in order to make its contents completely clear.
V. TRANSCRIPTION OF THE CONTRACT AT THE LAND REGISTRY OR/AND THE CADASTRAL OFFICE
In order for your contract to enter into force it has to be transcribed or recorded at the Land Registry by the notary, or at the Cadastral Office regarding to the areas where the cadastral process has been completed.
VI. OTHER EXPENSES
The final expenses for signing the purchase contract are the following: