Specific registrations

REGISTRATION OF SALES

1. Documents for sales. What type of documents does your LR system envisage for sales and carrying out their registration ?

Only notarial acts of sales can be registered in the Land Registry.

2. Method of registration. Please, indicate which of these circumstances or data form part of the content of the registration annotated in the registration books or land books for sake of a sale or conveyance.

Registration in the Land Books contains the following data; name, surname of the new owner, reference of the notarial act. A copy of the act is collected too.

REGISTRATION OF MORTGAGES

1. Please, indicate what main legislation governs mortgages in your system.

The main legislation governing mortgages in the greek systme is the relevant atricles of the Civil Code (art. 1257-1339)

2. In your LR system, is the registration of a mortgage constitutive?

In Greek LR system the registration of a mortgage is constitutive; it does not produce legal effects unless it has been dully registered.

3. Documents. What type of documents your LR system admits for establishing mortgages and carrying out their registration ?

Under Greek law, mortgages are established on the basis of a) the law, b) a court decision or c) a private agreement. Thus, the documents to be registered in each case are a) public documents specifically provided by the law which permits the establishment of the mortgage, b) court decisions and c) notarial acts containing the aggreement of the parties.

The Greek law also provides for a pre-notice of a motgage, which is also established by means of registration in the LR of a relevant court decision or a notarial act.

4. Method of registration. Please, indicate which of these circumstances or data form part of the content of the registration annotated in the registration books or land books. (In case of not making any annotation but simply recording or collecting a copy of the deed, please indicate so.)

The registration of a mortgage contains the following data;

• names of the parties (creditor/debtor)
• nature of the obligation ensured
• amount of the ensured debt
• amount of the mortgage liability

5. Types of mortgages. If you believe it appropriate, indicate the kinds of mortgages which are relevant in your LR system.

As mentioned above (under VII.2. 4), the greek law recognizes two basic encumbrances on real estate ensuring obligations; mortgage and pre-notice of a mortgage. They can be established for any kind of obligations (common loans, credit accounts, business loans, bond loans e.t.c.). The procedure and the documents needed for registration in the LR is the same no matter the nature of the ensured obligation.

6. Modifications. What does your legal system envisage about modifying mortgages? Do debtors have any legal possibility of negotiating newly the terms of the contract or any part of them?

Any modification on the terms of the ensured obligation or the mortgage as such must also be registered. The renegotiation of the terms is a matter of agreement between the parties that the law freely allows. In this case, the LR requires for registration either a court decision modifying the terms or a notarial act with the same content.

REGISTRATION OF JUDICIARY CHARGES

1. What kind of orders or judgments can create, modify or cancel an entry in your LR system ?

Judicial orders or judgements that can create, modify or cancel an entry in the greek LR system are basically the following;

• judicial orders of provisional measures which restrict disposition of assets
• judicial decisions in foreclosure proceedings
• judicial decisions recognising property or other real rights on property
• judicial decisions ordering rectification of an entry in the LR

2. What’s the kind of registrations or entries caused in registration books or land books by these judiciary orders or decisions?

The kind of registration depends on the nature of the registered decision. Thus:

• for judicial orders of provisional measures which restrict disposition of assets, an annotation is made and remains in force for as long as the order prescribes.
• for judicial decisions in foreclosure proceedings, a relevant annotation also takes place.
• for judicial decisions recognising property or other real rights on property; a common registration is made as it applies for any other transmission of property.
• for judicial decisions ordering rectification of an entry in the LR, an annotation takes place producing the rectification.