The changes that the new draft Law brings in for real estate transactions
The changes that the new draft Law brings in for real estate transactions
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The changes that the new draft Law brings in for real estate transactions

Ιssuance of TAP non-debt certificate is abolished, target bonus is established for real estate transfers.
RE+D magazine

The draft law of the Ministry of Digital Governance, which was presented to the cabinet and which is expected to be immediately put to public consultation, aims at faster transfers of real estate, in combination with the reduction of bureaucracy with the abolition of TAP

Specifically, with the new law, the issuance of the certificate of non-debt TAP in the purchase and sale of property is abolished, and instead of the annexation, the Hellenic Land Registry undertakes to notify each Municipality of the area of the property in each change of ownership within its boundaries. Subsequently, the Municipalities can confirm the fee and that it is collected through AADE, while the obligation to submit multiple excerpts of the cadastral diagram (AKD) for the same property is abolished.

With regard to the problem of lack of efficiency incentives, meritocratic criteria are introduced such as the establishment of bonuses for achieving goals in real estate transfers, and for the processing of other registrable transactions in each Land Office, while the replacement of supervisors is clarified and expanded.

The costs of the bonus will come exclusively from the income of the Agency which is self-financing, without burdening the Budget.

The proposed draft law of the Ministry of Digital Governance foresees, among other things, the extension of the possibility of final signature to the deputy heads, the heads of the body's legal service and P.E. employees. Legal, with supra-local competence, which is also given to supervisors.

It is also planned to extend the certification to Technical Education Engineers (according to the TEE) in order to increase controls. At the same time, a new platform for legal control of registered deeds is established (article 18), which now becomes mandatory.

The aim of these measures is to offer even greater flexibility and speed to the process, especially with regard to electronic transactions and in conjunction with the Land Registry's Program Agreements with Bar Associations and the pool of 1,000 plus lawyers starting submissions in November, to multiply the possibility of registering deeds nationwide.

All this, according to the ministry, is expected to lead to faster transfers of properties, but also to zero pending cases in 4-6 months from the passing of the bill.