I>Greece is currently relative who emigrated overseas
a Mediterranean hotspot for in the dark post war years in
foreign property buyers. Greece of the late 1940s and
Many European Union nationals are 1950s when the economy was in a
investing lifelong savings in very poor shape, and left their
holiday properties or land for family village home/property in
development. This is particularly the 'capable' hands of another
true for British and Irish family member, or close neighbour
expatriates who head the list of who remained in the village.
private foreign real estate
investors, notably in Crete, the Incidentally, another wave of
Peloponese and the other Greek emigration took place in the
islands. This article cautions 1960's and 1970s, when a lot of
any prospective foreign buyer to men from places such as Crete and
ensure that their appointed Thessaloniki went to work in the
lawyer in Greece checks out that German automotive industry in
any old home or land being Bavaria, southern Germany and
acquired has not changed other manufacturing areas of
ownership under the Greek Northern Europe including the
"Squatters Rights" Law. United Kingdom.
What is the Squatters Law? Many of these overseas workers
and family members settled abroad
The law relates to rights of have never come back to
ownership that remain with the Crete and so leaving their
original absent owners unless property, still in the "safe
changed through a Notary Public keeping" and trusted hands of
and a legal process. someone back in their home
village or town.
A typical scenario would be a
But with recent substantial Could a court subsequently
property price increases, some of overturn the earlier ruling
the local relatives have sold the handed down in favour of the
village houses in their 'own "live - in" relatives?
right' to foreigners.
The chances are not, but
How could this possibly considering the value of real
happen? estate in Greece these days, you
never know.
Any Greek head of household can
submit to a court, papers such as How to Check the Squatter's
utility bills and other notarised Law?
documents that show that they
have lived for lengthy periods in It is just a case of asking your
a particular property of a own appointed Greek lawyer if the
relative and under the squatter owner of the property you plan to
law had right to ownership of the purchase gained the deeds under
property. If the court grants the Squatters Rights law? The
them that right, it is legal and lawyer should be able to clear up
above board. the matter in their land title
searches. The point is, while it
While this should not have any is an 'obvious' fact to check
impact on the new foreign out, it is better to remind your
owner, there is always the lawyer. It could be a costly
nagging question: what if the oversight if it had been
absentee family member comes back accidentally overlooked in the
and is surprised to find out what purchasing process and the
has happened and goes to court to problem surfaces later.
undo a Squatters Law judgment?
About the Author:
Gerald Brown, a long time British expatriate and resident of Crete, heads up the web portal "Brits in Crete" a useful resource with advice for those intending to live in Crete, Greece and plan to buy a property, work, retire or have a holiday home there.
Read more articles by:
Gerald Brown
Article Source: www.iSnare.com 
