Real estate transactions within Greece present a complex and highly varied landscape that requires specialized expertise. Factors such as off-plan construction, the current legislation on unauthorized buildings, listed or heritage properties, traditional settlements, the determination of the seashore and coastal zones, as well as the intricate forestry, tax, and urban planning laws, create a challenging legal environment. Additionally, difficulties related to incorporating areas into city plans and legacy issues affecting horizontal property ownership in Greek apartment buildings leave no room for a “simple” case; each transaction must be handled with utmost care and precision.

Only the specialized knowledge of a notary office ensures the proper collection and attachment of the required documentation, with accurate content, to draft a legally compliant deed. This deed provides a precise description of the property and incorporates appropriate contractual terms, safeguarding both its registration with the Land Registry and its smooth transfer to third parties in the future.

A parental property grant is a unilateral legal act in which a parent transfers a right or asset to their child without consideration, i.e., as a gratuitous gift, as defined in notarial practice.

When the subject of the parental grant is real estate, the transfer must be executed through a notarial deed.

A donation is a legal act in which the donor transfers a right or asset to the recipient without consideration, i.e., as a gratuitous act, as defined in notarial practice.

When the subject of the donation is real estate, the transaction must, by law, be executed through a notarial deed.

A preliminary agreement is a preparatory, obligational, and promissory contract under which one or more parties undertake a specific obligation: namely, the obligated party commits to participate in the execution of the final contract or unilateral legal act, the content of which is already defined within the framework of the preliminary agreement.

In today’s fast-paced environment, where speed in concluding agreements is essential, preliminary agreements are commonly used, particularly for real estate acquisitions. The law requires that, in cases where the final contract is not yet ready—whether for legal, practical, or strategic reasons, or because the parties do not wish to be fully bound—the agreement be executed as a notarial deed.

Preliminary agreements concerning the obligation to sell real estate must be drafted not as private agreements, but as notarial deeds, since they are subject to the same formal requirements established by law for the final contract. While this may mean that the parties follow the same formal procedure twice, it ensures full legal validity and enforceability. This is especially important in real estate transactions, where precision, clarity, and legal certainty are critical.

Importance of Notarial Form for Preliminary Agreements

When the agreed purchase price between the parties is substantial, it is of utmost importance to follow the notarial form because:

• It provides full evidential value as a public document and is enforceable.
• It offers stronger protection against third parties (e.g., in case the seller attempts to sell the same property elsewhere).
• It constitutes an enforceable title.
• It allows for a more thorough legal review of both the property and the individual terms of the agreement, as it is drafted by a notary.

Consequently, a notarial preliminary agreement provides significantly broader and more substantial legal protection.

Specifically, for the preparation of contracts concerning real rights in real estate—particularly for property transfers—the agreement must be executed as a notarial deed under Article 369 of the Greek Civil Code. However, it does not need to be registered with the competent Land Registry if it is merely an obligational contract.

The form required for a preliminary property sale agreement, covering both the property and the agreed price, is essential, as these are fundamental elements of the contract. Any agreement executed as a private document between the parties regarding the price would be considered invalid.