Property Transfers in Greece Are Changing: The Notary’s Expanding Role

本站添加: 2026-05-30

[00:00:00]Buying property in Greece currently  means dealing with lawyers, engineers, tax authorities, and the land registry, often all  separately. A new law is about to change that, and it puts one role at the center of the entire  process, the notary. But what does that actually mean in practice? And how could it affect you as  a buyer or owner? Hi, I am Dee from Elxis - At Home in Greece. We've been helping people buy  property in Greece for over 35 years. If you'd like clear and practical insights into Greek  real estate, feel free to subscribe to this channel. To understand why this matters, let's  start with how things currently work and why the process has always felt complicated. Property  transfers in Greece are not handled in one place.

[00:00:48]They involve multiple steps and different parties  including lawyers, engineers, tax authorities, the land registry or cadastre. The notary plays  an important role but mainly focuses on preparing and signing the contract. Everything else it's  usually coordinated by the buyer, the seller, and their adviserss. And that's why the  process can sometimes feel fragmented.

[00:01:14]But that's about to change. Law 5293/2026 introduces a different approach. It positions the notary as the central figure in the entire  process. Instead of just formalizing the contract, the notary will be able to coordinate most  of the steps required to complete a property transfer. This includes transfers through  sale, donation, parental gift, and inheritance.

[00:01:43]So what does one-stop shop actually mean?  In simple terms, the notary becomes the main point of contact for the entire transaction.  Within this framework, the notary can prepare the contract with the parties, retrieve key  documents directly from public authorities, coordinate administrative steps, and move the  process forward more centrally. This is made possible through digital systems that allow access  to documents such as tax clearance certificates, insurance certificates, property identity records,  and catastral extracts. The goal is simple. Less back and forth between different offices. And it's  not just the paperwork. The financial side shifts, too. Another important change is the notary's  role in tax handling. Under the new framework, the notary will submit tax declarations through  the myProperty platform, calculate and process the relevant taxes and collect and pay these taxes  to the authorities. This includes transfer tax, donation or parental gift tax, inheritance tax  where applicable. In other words, the financial side of the transaction becomes more centralized  as well. The law also introduces an interesting option. If both parties agree, the notary can  handle the payment of the purchase price. This is done through a dedicated escrow account. And here  is how that works. The buyer deposits the funds into the notary's account. The deposit is legally  considered payment. The notary then releases the funds to the seller based on the contract.  And this adds an extra layer of structure and potentially security to the transaction.  Once everything is signed and paid, the notary also handles the final stage. They submit the  contract for registration with a land registry or cadastre. This is what officially completes  the transfer of ownership. Please keep in mind this system is not yet fully active. Although  the law has been introduced, the one-stop shop model will only begin once a separate ministral  decision is issued and that decision will define when the system starts how it works in practice  which cases it applies to until then property transfers continue under the current structure.  So what's the bigger picture here? This reform doesn't change the legal requirements of buying  or transferring property, but it changes how the process is organized. Instead of multiple moving  parts handled separately, more responsibility is concentrated with the notary. The intention  is a more streamlined, coordinated process.

[00:04:32]If you're planning to buy or transfer property  in Greece, it's important to stay informed about how these changes are developing. Because while  the system isn't fully in place yet, it signals the direction the market is moving towards. If  you have questions or want guidance on property transactions in Greece, feel free to contact our  team at Elxis. And if you found this helpful, then don't forget to subscribe for more clear and  practical insights into real estate in Greece.