UncategorizedContents of the Modification of Constitutive Deeds under Paragraph 1(a) of Article 16 of Law 5142/2024 (Government Gazette 158/A/4 10 2024)

This new law represents an extremely useful tool in the notary’s toolkit, enabling the correction of past discrepancies and the alignment of the property’s current physical condition with what is recorded both in deeds and in the Cadastral Registry.

According to the specific provision:

The owner of a horizontal or vertical property may unilaterally execute a notarial deed to modify the horizontal or vertical property, as well as any appurtenant spaces or areas of exclusive use, with respect to the surface area, boundaries, and use of the horizontal or vertical property, as recorded or described in the constitutive deed of the horizontal/vertical properties.

However, the content of the modification deed under paragraph 1(a) of Article 16 of Law 5142/2024 must demonstrate that the following strict conditions are met:

1. The current physical condition has existed since the construction of the building and is reflected in the Electronic Building Identity or Individual Property Identity under Article 53 of Law 4495/2017.
2. The existing total co‑ownership percentages of the horizontal or vertical property on the plot and the allocation of common expenses are not adversely affected.
3. The rights and obligations of all horizontal properties in the building, including common areas, are not affected.
4. Any tax obligations arising from the modification have been fully paid.
5. The property exists lawfully or has been brought into compliance under the provisions of Law 4495/2017.