Establishment of Horizontal Ownership

Συμβολαιογραφικές & Νομικές Υπηρεσίες

 

Establishment of Horizontal Ownership is the act by which the owner of a property divides it and creates more self-sufficient and independent properties, each of which has a certain co-ownership percentage on the plot and on the common parts of the building (foundation, roof, yards and so on). A separate horizontal ownership may be constituted by one or more entire floors that are organically connected between them or a condominium.

The establishment of horizontal ownership may be achieved by a deed in life or by last will and testament provision (will).

The establishment of horizontal ownership by deed in life must definitely be filed with the notary format, signed by all of the co-owners of the plot and then transcribed in the competent  Land Registry or entered in the competent  Cadastral Office.

Horizontal property establishment may also be effected in a building to be erected in future.

Also, it is possible to achieve establishment of horizontal ownership by court decision under specific conditions.

Usual documents required:

• Tax clearance of the property owners, in case they are more than single one.
• Diagrams of floor levels.
• Τopographical diagram dependent on

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