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Saturday, May 11, 2013

Greece: Seizure risk for 130,000 properties


Of unknown owner…

Properties of all categories, unstructured areas, special buildings, shops, even apartments, which because they are not registered by their owners at the State Land Registry or even due to an error in land registration have been recorded as "of unknown owner" and according to law, after a decade for residents abroad, finally come to the Greek State, are estimated at more than 130,000.

The warning "bell" for the seizure threat rings for all 340 areas of the country that have been included in the Land Registry, while the developments in 20 districts ere registered via the first pilot program called the "Land SA" and acquired a Land Office in 2003 will be direct and unexpected.

As reported in Saturday's Eleftherotypia, the Polikastro and Pefkodasos of Kilkis prefecture are the two first areas of the program for which the 10-year period expires on August 1, 2013, and after which entries in the Land Registry become final and cannot receive an adjustment lawsuit.

On a nationwide scale the "unknown owner" properies recorded at the Land Registry amongst 6.2m rights, are estimated at 130,000 that is at a rate of 2%.

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