Many different types of Greek real estate matters could come up for a Greek American. They might wish to sell a property they have in Greece. They may have recently inherited a piece of Greek real estate. They might desire to buy a property in the country. Or they might have a business endeavor they are engaging in that involves Greek property, such as a development project.
There are many things that can complicate such matters. One are Greek real estate laws. These laws can be quite different from those in the U.S., and navigating them in the right way can be key for a Greek American when it comes to trying to ensure their goals for a given real estate matter remain achievable. Given this, when Greek real estate matters come up, a Greek American should consider promptly contacting a lawyer knowledgeable of the particulars of Greek real estate law and the challenges that Greek Americans can face when it comes to such matters.
Another thing about Greece that can have implications in real estate matters is that Greece currently doesn’t have a completed comprehensive land registry. This is rather unique among developed countries, and can sometimes create legal complications in real estate dealings.
Efforts have been underway to change this for multiple decades. Multiple incremental phases have occurred aimed at getting property deeds registered for a comprehensive registry. Currently, a push is underway to finally get this project completed and a comprehensive registry in place. The World Bank is assisting in this effort.
Do you think we will see a fully completed land registry in Greece in the not-too-distant future? If so, what impacts do you think it will have on Greek real estate matters and Greek Americans?
Source: Tornos News, “Long-awaited land registry in Greece heading into completion,” Sept. 29, 2016
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