How do you inherit property in Greece?
In order to accept the inheritance, the heir must submit the tax declaration, pay the tax, sign the acceptance of inheritance papers and submit them to the Land Registry Office responsible for the area of the property.
Is there an inheritance tax in Greece?
Pursuant to the Greek tax legislation, Inheritance Tax is assessed on the current value of the property inherited. The said property includes any kind of movable and immovable property located in Greece, regardless of the descendant’s nationality.
Does Greece have inheritance tax?
Inheritance taxes, in contrast, are only levied on the value of assets transferred and are paid by the heirs….Estate, Inheritance, and Gift Taxes in Europe.
| Country | Estate/Inheritance/Gift Tax | Tax Rate |
|---|---|---|
| Greece (GR) | Yes | 1-40% |
| Hungary (HU) | Yes | 9-18% |
| Iceland (IS) | Yes | 10% |
How do I claim an inheritance from Greece?
The heirs, (in intestacy or by virtue of a Will), must file an inheritance tax statement within 6 months, if Greece domiciled, or within 12 months, if they live abroad. The time limit for the submission of the tax statement in principle begins as of the passing; and/or the Greek will’s probate date.
Who are the heirs to a house in Greece?
A dies in Greece without leaving a will. His closest relatives are his children B and C who live in Greece and have no family. The inherited property consists of a house with objective value 60.000 euros. So, B and C inherit 50% each one of this house. But A had loans with total amount remaining 90.000 euros.
How is property bequested in Greek inheritance law?
Greek Inheritance Law provides the bequest of the deceased’s property to his legal heirs in two ways: by virtue of a will or in intestacy.
How can I get an inheritance in Greece?
The Associate lawyers in Greece can assist in Greek inheritance issues by tracing the property title anywhere in Greece; they investigate the legal and actual status; and provide a full legal analysis report including photographs, usually within one – two weeks, as of the time that the client has provided the necessary information.
Who are the closest relatives to inherit in Greece?
A dies in Greece without leaving a will. His closest relatives are his wife B who also lives in Greece and his son C who lives abroad. The only property A had is a house with objective value 160.000 euros. So, B inherits ¼ and C takes ¾ of this house.
