Deciphering the Web of Ownership: 13 Essential Clues to Navigating Rights and Transfers

Deciphering the Web of Ownership: 13 Essential Clues to Navigating Rights and Transfers

As the “Free Press” has already written, among the most serious regulations that will simplify the everyday life of the owners are the release of properties that were classified as “forest” when the forest maps were posted, the electronic correction of the geometrical data as well as out-of-court solutions to an “unknown” property owner.

Satisfaction

According to POMIDA, “a series of its requests and proposals are being satisfied, in order to resolve the very serious problems of real estate owners regarding their title deeds. Particular emphasis is placed on the possibility of unilateral amendments to deeds establishing horizontal ownership and the possibility of lifting the invalidity of transfer contracts through the subsequent subjugation of their arbitrariness and unilateral correction of their ownership titles. At the same time, measures are being instituted to speed up the procedures for completing the Land Registry, correcting incorrect entries and transcribing real deeds”.

The settings

In particular, the 13 most important provisions of the recent law are:

1 Processing of land registration within a functioning Land Registry. Requests for correction of article 6A or objections of article 7 or pending decisions of the Examination Committees of article 7A are noted on the relevant cadastral sheet. If the submitted application or objection is accepted, the head of the competent cadastral office or branch corrects the first entry in accordance with the provisions of the decision, which is noted on the relevant cadastral sheet, allowing only justified refusal. If the submitted application or objection is rejected, the decision is noted on the relevant cadastral sheet.

2 Acceleration and digitization of the process of correcting spatial changes in cadastral maps.

3 Simplification of the process of correcting obvious errors in cadastral records.

4 Possibility of easy correction of “unknown owner” real estate records, in favor of the real and legal owner.

5 Establishment of a second-level judgment procedure on requests for correction of cadastral records.

6 Speeding up the time of transcription of notarial deeds through the use of Artificial Intelligence.

7 New procedure for correcting cadastral records in forest areas, in case of a decision to accept objections against the forest map, so that the corrections are made within the Cadastre Office and not judicially.

8 Establishment of the possibility of unilateral modification of acts of establishment of horizontal or vertical ownership in terms of the surface, outline and use of the properties.

9 Possibility of transferring a horizontal or vertical property with an area deviation of up to 2%, without requiring correction of the title deed.

10 Possibility of unilateral notarial transfer of the right to exclusive use of a property to another owner of the same building, who lacks such space.

11 Possibility of lifting the invalidity of a transfer or creation of a right in rem that took place before 1.5.2024 through the subsequent subjugation of the arbitrariness or the urban planning violations that had been established before the above actions if permitted and if a Building Identity is drawn up. In the event that the notarial deed drawn up in violation of the first paragraph needs correction in terms of the property’s details, it can be corrected by the last acquirer of the right in rem, unilaterally, by attaching only the ENFIA Certificate of the last acquirer, the Completeness Certificate of Electronic Building Identity , the certificate of affiliation, the layout of the floor plan, and the extract of the cadastral diagram. Any required tax return is submitted unilaterally.

12 Pre-contracts: Possibility of drawing up by self-contract definitive real estate transfer contracts with compelling reason in execution of old pre-contracts until 31.8.2024, with no expiry date.

13 Extension of the deadline for validating “anomalous legal acts” until 31.12.2027.

Three conditions for the “unknown owner’ properties

It is recalled that the Ministry of Digital Governance has announced that without time credit, the deadline for owners to declare their property to the Agency will expire on November 30.

The statement clarifies that it also applies to those properties that have been classified as “unknown”, which can be declared with the basic condition that the owners have the necessary certification documents and do so through the manifest error process.

As the Deputy Minister of Digital Governance, Konstantinos Kyranakis, said, through the regulation it is possible for the “unknown owner” property to turn into a “known one”, as long as three conditions are met. Transferred title to the mortgage office, acceptance of inheritance or court order for usufruct. If one of the three is present, even “unknown owner” can be returned to you and you can be the rightful owner again.

“The new law does not punish the owner or the new generation,” as Mr. Kyranakis characteristically said, noting that the correction process is simplified in favor of the real owner.

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