Property and Real Estate, Corfu Lawyers
Our law firm has a long experience and specialization in this real property law and property contracts. Generally, there are no restrictions in purchasing property in Greece, apart from certain specified by law areas, for which a special license is required for non E.U. citizens or companies. For the legal or physical E.U entities all restrictions have been lifted long ago for the whole Greek territory, so that the E.U. citizens and companies can purchase property in Greece under the same terms and conditions as the Greek citizens and companies.
- Costs of acquiring and maintaining property in Greece
- Lawyer’s tasks in specific
1. Costs of acquiring and maintaining property in Greece.
- The cost of purchasing property in Greece should be estimated 6% to 7% of the purchase price approximately, depending on the contract’s price and the professionals involved.
- Of which 3% is transfer tax.
- Annual property tax depends on the particular property (size, location, etc.)
- Property contracts in Greece are notarial acts, namely drawn, signed and filed by Notaries, who in the Greek legal system are public servants and represent the state in all property contracts. Notaries maintain all original contracts in their archives and can provide authorized copies to the contracting parties.
- Each contract is registered at the land registry of the area of the property.
- A topographic drawing is also required, stamped by a qualified professional, usually civil engineer or the qualified topographer, which imprints the property and secures the building conditions and the legality of the building(s), if any.
3. Lawyer’s tasks in specific
- Vendee’s lawyer is the person to perform a full legal check in order to protect the client’s interests in this process. The standard check of the Lawyer includes:
- Title check in order to secure that the ownership status of the vendor is solid and without any legal defects; to ensure that the continuity of the owners before the vendor has not been “broken” at any point in the past; that all contracts up to date were signed legally.
- Property current legal status check in order to secures that there are no incumbencies, mortgages, confiscations, claims, or any other real property rights registered on the property.
- In case the vendor is a legal entity, the Lawyer of the vendee has also to ensure that the status of the company is in perfect legal order and that the director or the proxy or the legal representative of the company is authorized to sign and commit the company with his or her signature.
- The overall inspection of the procedure usually belongs to the duties of our law firm. We complete the necessary steps from the beginning to the end, with speed, efficiency and safety for the client, whose physical presence during the procedure is not required, due to relevant power of attorneys.