Property transfers: 15-day extension for contracts with 2021 prices

Property transfers: 15-day extension for contracts with 2021 prices

The Ministry of Finance will extend until January 15, 2022 for the signing of real estate transfer contracts, provided that the relevant declaration for parental transfers or purchases has been submitted by the end of the year.

The filing of the required documents has been delayed due to the fever of transfers and the aim is to address this immediately. At the same time, there is a long delay in issuing supporting documents (property tax certificates or documents from the Land Registry) with the risk of missing the deadline for those who aim to make transfers.

However, the Ministry of Finance rejects the possibility of extending the application of the new objective values but will submit legislation only for the signing of contracts until the first half of 2022, provided that the transfer declaration has been submitted. This will allow additional time to gather the necessary documentation for the signing of the contracts and the final submission of the transfer to the land registry.

Due to the new objective prices, increases in taxation are expected to be suffered by those who have not closed their cases by the end of the month even for the purchase of a first home.

Supporting documents

The documents required to complete the transfer of a property in the case of a purchase and sale are as follows:

☛Title of property.

☛Building permit.

☛Copies of the parties’ identities, VAT and income tax IDs.

☛Document of completion of the property adjustment procedure.

☛Confirmation of an engineer’s autopsy certificate.

☛Energy Performance Certificate.

☛Tax certificate of the owner.

☛Insurance certificate of the owner.

☛ENFIA certificate.

☛Certificate of no inheritance/parentage/gift tax liability.

☛Confirmation from the municipality that no Real Estate Tax (RT) is due for the transferred property