You can find here quick answers to the most frequently asked questions, regarding a case that requires notarial advice/services.

For more specific information concerningyour case, please contact us.

What is the least amount of money required in order to be declared eligible for primary residence tax exemption?
After the acquisition of real estate property (e.g. a house or an apartment) the amount of tax exemption rises up to: a) Celibate: €200,000, and b) Married: €250,000 (in case of disability, a married citizen earns back at least 67% of the value, up to an amountof €275.000). The aforementioned amount of money increases by €25,000/each for the first two children and by €30,000/each for the third and every other following child. After the acquisition of land property the amount of tax exemption rises up to:  : a) Celibate: €50,000 and b) Married €100,000. The aforementioned amount of money increases by €10,000/each for the first two children and by €15,000/each for the third and every other following child.
What is the percentage of the real estate transfer tax on real estate transactions?

The real estate transfer tax has been reduced to 3% of the higher value (between objective and declared value). The resulting amount is increased by 3% local tax.

If we do not accept an inheritance, then what happens with the immovable properties of the deceased in case of land registration?

The Declaration of Property Ownership can be done by acquiring cause succession even before the drafting and transfer of inheritance acceptance. The Declaration of Property Ownership is registered in the cadastral tables of the suspension and among the first entries in the cadastral book, the holder though is officially banned from attempting any form of its practice, before filing all of the respective conditions (no. 1193 of the Civil Code).

What is the limit for tax-free parental benefits?

The limit for tax-free parental benefits is up to a value of €800,000. From €800,000 and above, the following tax rates apply a rate of 10%.

What is the limit for tax-free threshold for the acceptance of an inheritance by the children and/or the spouse of the deceased?

The scale limits are the same as the ones in the answer given in the previous question. But in case of an at least five year long marital cohabitation (regarding the spouse) and in case of underage children, the tax-free limit is €400,000/beneficiary.