After the publication of Law 5076/2023 on the “Acceleration of the procedures for the completion of the Hellenic Cadastre” in Government Gazette 207/A/13-12-2023, the procedures for the registration of contracts have radically changed with a view to accelerate the procedures for the transfer of real estates.
Many citizens confuse the new electronic services and their accessibility through taxisnet with the legal work that is necessary for the safe and correct preparation of a contract and the protection of the interests of each party.
For example, a legal check for the purchase or transfer of a property still remains necessary. The legal check is carried out by a lawyer and involves a thorough check of the seller’s title deeds, going back at least twenty years, in order to ascertain the legal status of the property, any legal defects and encumbrances (mortgages, mortgages, foreclosures etc.).
The legal work that should take place before any notarial deed is signed includes: the drafting of the Private Engagement Agreement – Advance Payment or Preliminary Agreement, ensuring compliance with the agreed terms between the parties, the collection and verification of the necessary Certificates – Certifications, etc.
Here we should emphasise that the presence of an experienced and flexible Lawyer is crucial for the proper completion of any notarial deed, especially in cases of real estate sales, considering that for many of us buying a house is perhaps the most important financial transaction that we will make and the decision of a lifetime that requires a series of legal actions, especially if we consider the changes in the procedures of property transfers.
An experienced attorney can check the thoroughness of the documents required for the proper preparation and registration of a contract and minimise the potential for any outstanding issues when registering the deed with the Land Registry, which could prove detrimental to the interests of their client.
Based on the above, it is clear that despite the alleged acceleration and simplification of real estate transfer procedures, which the new law promises, the role of a qualified lawyer continues to remain crucial for the security of transactions and the safety of the transacting citizens; This is besides one of the reasons why the country’s Bar Associations have made a strike demanding to restore the mandatory presence of a lawyers in contracts.
Lawyers, in the new context of the digital transition of services, are now called to get to know new procedures and to respond seamlessly to the technical requirements, always having in mind to serve the interests of our clients.
Based on an overview of the new law, we would like to highlight the main changes it brings about in order to correct mistakes and reduce bureaucracy:
- Abolition of the obligation to present a certificate of non-payment of the Real Estate Tax (Immovable Property Duty),
- Abolition of the multiple submission of an extract of the cadastral map (LAP) in case of divided properties within the same land parcel.
- Submission of exclusively digital copies of notarial deeds with digital summary, without handwritten references, in readable pdf format.
- Attachment of a copy of the cadastral map by the entity itself in case of digital submission.
- Simplification of the procedure for correcting manifest errors in cadastral records with uniform rules, so that the corrections are made at the Land Registry and not at the Court of Justice.
- Establish a Legal Check Platform of Recorded Deeds to carry out remote legal check of applications.
- Extension for the deadline for correction of first registrations until 30/11/2024 and provision for the possibility of correcting first registrations in areas where the possibility of challenging an inaccurate registration with the indication “unknown owner” has expired, in order to give room to last-minute declarations before finalization and to address issues in already finalised areas for bona fide owners.
“ANNA A. KORAKI & ASSOCIATES” Law Firm, with its 20 years of experience in the field of Real Estate, responding to legislative changes and developments through its well-trained and well-informed legal department, can prove to be a very valuable legal expert in matters of real estate transfers.
