Real Estate Blog

Vertical division in out-of-plan areas / Law 4495/2017

10 Mar 2019

Legal, by Athina Ledaki, Lawyer/Accredited Mediator (CEDR)

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The law 4495/2017 repeats the provisions of the law 4178/2013 regarding the possibility of establishing "vertically divided properties" in out-of-plan areas as long as these properties are built before the 28-07-2011. Many property transfers in the region of Chania, Crete, referring to out-of-plan real estate properties, are made possible thanks to this legislation. Read more...

In reference to a previous Βroosco article referring to the question whether a vertical division is permitted in out-of-plan areas under the L.4178/2013 (article 5), we should point out that the last law about the legalisation of properties amending the L.4178, which is the L.4495/2017 (article 98)- repeats the same regulation, redefining that the provisions of the L.D. 1024/1971 concerning the creation of "vertical" properties apply also in out-of-plan areas provided that the properties are built before 28.7.2011 as prove aerial photographs taken until this date.

Many real estate transfers are made possible in out-of-plan areas thanks to this legislation, which allows to cancel the "horizontal division" of a land parcel and replace it with an act of vertical division as long as all the buildings are erected before 28-07-2011. Public notaries in the region of Chania Prefecture, in Crete, where Βroosco Real Estate is established, tend to suggest this solution of cancelling the horizontal division and establishing a vertical one, pursuant to the above mentioned legislation as a frequent and safe practice in order to facilitate real estate transfers.


The ruling

It is important to note that the L.4495 / 2017 repeats the provisions of the L.4178/2013 according to which, the co-owners of an out-of-plan land parcel can create as many "vertical properties" as the number of the buildings erected in the plot before 28-07-2011 and each one may acquire the ownership of his house. Attention: This provision does not apply to non built land parcels.

 

Εxamples


1. In an out-of-plan land parcel two co-owners have built their two residences before 28-07-2011. Till now, legally none of the two has independent ownership on his building.They are co-owners on both the land and the two buildings according to the percentage of ownership on the land as described in their deeds. The application of the L. 4495 permits to each owner to acquire full and absolute ownership on his own house and exclusive use on a specific part of the land, representing a percentage on the whole, vertically divided, plot.


2. In an out-of-plan land parcel belonging to two co-owners, one of them has built a house on a specific part of the parcel before 28-07-2011, while the part that theoretically belongs to the other co-owner on the basis of their oral division of the land remains unbuilt till today. The L. 4178 and the L.4495 do not allow the owners of these properties to proceed to the creation of "vertical" properties since one of the two sections is not built. These cases remain legally unsolved.

 

Broosco Team, experts in Real Estate in the region of Chania, Crete, Greece, combines advanced searching and alerting information on property law and will keep you up to date on any amendment on the legislation mentioned above, staying on top of any related news, freeing you up from the fear of missing something critical for your property in Chania, Crete.


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