Property management advice and Will drafting are fundamental elements of our work for the clientele. In addition to simple Wills, sophisticated schemes for property management in Greece can be employed, including parental and inter-vivos (between living parties) gifts for significant legal and other savings.
Wills in Greece
Property Management in Greece primarily refers to Wills, and under Greek law, Wills can be either holographic or notarially executed/kept. In cases of intestacy, when someone dies, without a will, succession is regulated according to the “next-of-kin” sequence, as follows:
- Spouse and children
- Spouse, parents and siblings
- Spouse, grandparents, their children and grandchildren
- Spouse and great-grandparents
- Spouse
- The State.
Children, parents and spouses may not be disinherited by virtue of a will (as “forced share” right holders), unless for good reason, as foreseen in the law.
Inter-vivos (parental) gifts in Greece
Property management in Greece where the parental Gift includes real estate property is implemented through the execution of a Notarial Deed, by both parties (parent and child) and its subsequent registration in the competent archives of the competent Land Registry and/ or Land Registry Cadastral of the property’s location.
Conveyance of Greek real estate property through a gift, is executed through a Notarial Deed. In the absence of the notarial document, the gift may be considered to be accomplished upon delivery of the gifted property to the grantee.
Anything related to property management in Greece, including but not limited to the procedure of parental gifts for Greek properties, may be accomplished through a limited Power of Attorney to a specialised Greek Lawyer.
June 2020