As a whole, Greece is a prime island and a primary target for investors, homeowners, and organizations due to its suitable location, natural splendor, and laws surrounding it. Many people—locals and foreigners—own an apartment acquired by inheritance or purchasing. Buying a house in Greece is easy if you have the right expert and knowledge in property law. Today we will broaden your knowledge umbrella by looking at some of the surprising facts about Greece’s property law.
The 20 years trespass law
Greeks laws are deeply rooted in the ancient polis that favored productivity. A polis was an ancient town ideal for philosophical purposes that shunned laziness and encouraged labor. One way to guarantee the ancient country remains the epicenter of productivity is ensuring all property buyers take care of their investment.
The property owner, especially those living outside Greece, tends to be contended in other activities, leaving their unchecked investment. Trespassers may start dominating and eventually establishing ownership rights on such properties. Is it possible for someone who admits he has no rights over a property to become a legal owner?
Greek laws dictate that the owner of the property is obligated to take good care of it. Reasonable care means exercising ownership rights by at least presenting himself at his property’s location from time to time or leasing it. If two decades elapse without the owner showing up, the trespasser will be granted rights over it.
By buying a house in Greece, you will be subjected to the twenty-year trespass law. Even though it might be risky, it is worthy because the serene environment will attract and keep you from leaving the Greeks.
Friendly landlords and tenant protection laws
In most countries like the USA, tenants and landlords are in a constant legal war spiked by surging rent. In most cases, it supports landlords. The situation is different in Greece.
After the 2010 economic recess, the Greece legislative council implemented rules and regulations that protect landlords and ensure tenants live with the best memories. The following are some of the friendly tenant-landlord business practices;
Greece gives her property owners the right to negotiate the rent. If you plan to join the landlord’s community by purchasing a house for business purposes, you will be required to discuss what you will be receiving as a rental fee from your occupants. Unlike other nations like Germany, where the law is somehow stricter for tenants, they enjoy the ultimate right to determine what they should pay in Greece. On the other hand, the landlord will experience a smoother business because everyone will be happy.
The process of acquiring a property is simple
Like many countries, acquiring real estate or buying a house in Greece follows a specific set of rules that ensure transparency and expose any fraudulent activities. The process is simple for the European Union and Greece citizens, while a little complicated for foreigners.
Property law governing the process of buying a house in Greece guarantees safe and productive business for anyone wishing to live on such a beautiful archipelago. Let us not forget the friendly community of law experts willing to take you through the leasing process.
The post Surprising Details About Property Law and Buying a House in Greece appeared first on Home Business Magazine.