Asset and Estate Division Lawyer Athens

When Must Property Be Divided After a Divorce

If you have bought a house in Greece as a married couple and are now going through a divorce, but do not want to (or cannot) sell the house, then property division is the way to go.

In Greece, the division of property after a divorce is primarily governed by Greek family law under the Greek Civil Code.

The specific articles relevant to this topic are Articles 1397, 1398, 1400 and 1401, which collectively regulate how property is treated and divided after a divorce in Greece. They emphasize the importance of each spouse’s contribution to the acquisition of property during the marriage and provide the legal framework for resolving property division disputes.

• Article 1397: Establishes the general principle of property acquired during the marriage and the rights of each spouse with respect to such property.
• Article 1398: Addresses the division of community property in the event of divorce, focusing on the mutual consent of the spouses in the division of property.
• Article 1400: Provides the basis for a spouse’s claim to a portion of property acquired during the marriage.
• Article 1401: Pertains to the presumption of equality in the division of community property, unless otherwise proven or agreed upon by the spouses.

Greece does not by default follow a community property regime where all property is automatically considered community property.

Under Greek law, each spouse retains ownership of the property he or she owned before the marriage and of anything inherited or given to him or her during the marriage.

However, if one spouse contributed to the acquisition of property that is legally owned by the other, he or she may be entitled to a portion of that property.

Property division primarily affects property acquired during the marriage.

After a divorce, a spouse can claim a share of the property acquired during the marriage. This is usually up to 1/3 of the value of those assets, unless a greater contribution can be proven.

If both parties agree on how to divide the property, they can do so amicably, usually as part of a larger divorce settlement.

If there is no agreement and the division of property is disputed, the matter may be decided by the court. The courts will determine how the property should be divided, taking into account factors such as each spouse’s contribution to the acquisition of the property, the needs of the children, and other relevant circumstances.

The division of property must take place within two years of the divorce being finalized if one spouse wants to make a claim on property acquired during the marriage. If they fail to do so within this period, they may lose their right to claim any portion of the property.

How to Divide a Property in Greece

The division of property after a divorce in Greece involves several steps and depends on whether the spouses can reach an agreement or whether the division is determined by the court.

The first step is to determine the marital property to be divided.

Each spouse retains ownership of the property he or she brought into the marriage, and property received as a gift or inheritance by a spouse during the marriage is usually not considered marital property.

Thus, marital property refers primarily to assets acquired during the marriage with income earned by either spouse, which may be subject to division.

If both spouses agree on how to divide the property, they may opt for an amicable settlement and draft a written agreement with the assistance of a Greek family lawyer to ensure that it complies with Greek law. This agreement is often formalized by a notarized deed, especially if real estate is involved, to ensure that the division is legally binding and enforceable.

If the spouses cannot agree, one or both may seek legal assistance and file a petition in court for the division of property.

The court will evaluate each spouse’s contributions to the acquisition of the property, including financial contributions, work, and other assistance that contributed to the accumulation of assets, and may order the division of property based on that contribution.

If division of property is not possible (e.g., in the case of a family home), the court may order that the property be sold and the proceeds divided between the spouses as determined by the court.

If the property is real estate, the division or transfer of ownership must be registered with the relevant land registry office in Greece. This is usually done after the division has been agreed or ordered by the court.

Any debts or liabilities incurred during the marriage relating to the property must also be taken into account in the division process. The court or the agreement between the spouses will take these into account when determining how to divide the property.

Be aware of the tax implications associated with transferring property after a divorce. This may include transfer taxes and other fees that may be the responsibility of one or both spouses, depending on the agreement or court order.

5 Things to Know About Property Division in Greece

Here are 5 important things to keep in mind when it comes to property division in Greece:

• No automatic 50/50 division: Unlike some countries where marital property is automatically divided 50/50, in Greece the division is based on the actual contributions of each spouse to the acquisition of the property. This approach aims to reflect the realities of each marriage rather than imposing a standard division.
• Consideration of joint debts: Debts incurred during the marriage that are related to the acquisition of property are also considered in the division process. Responsibility for these debts is usually divided in proportion to the division of property.
• Use of property after divorce: Even after a divorce, one spouse may be allowed to use the marital home or other property for a period of time, especially if there are minor children involved. This can happen even if the property is owned by the other spouse.
• Joint ownership after divorce: In some cases, divorced spouses may remain joint owners of a property, especially if neither can afford to buy out the other or if selling the property immediately is not desirable. This can result in a continuing financial relationship even after the marriage ends.
• Inheritance implications: Property division can also have inheritance implications. For example, if a divorced spouse retains a partial ownership interest in a property, his or her interest could be inherited by children or other heirs, potentially complicating future ownership of the property.

How Our Law Firm Can Help You With Property Division in Greece

Property division after a divorce in Greece is a complex process and the assistance of a Greek family lawyer is invaluable.

If you are going through a divorce in Greece, we will explain your legal rights and obligations regarding property division under Greek law, clarify what constitutes marital property, what you are entitled to, and what your potential obligations may be.

Most importantly, as your attorneys, we will develop a legal strategy tailored to your specific situation, taking into account factors such as the value of assets, contributions made during the marriage, and any special circumstances (e.g., children, debts).

If you are seeking an amicable settlement, we will mediate discussions to help both parties reach a mutually acceptable agreement and negotiate a fair settlement between the spouses to avoid lengthy and costly litigation,

And if a settlement is reached, we will draft a legally binding agreement that formalizes the division of property, ensuring that all terms are clear and enforceable.

If an agreement cannot be reached, our firm will prepare and file the necessary legal claims to ensure that your interests are best represented in court. We will handle all procedural aspects, ensuring that deadlines and legal requirements are met.

We will then present your case in court, arguing for a fair division based on your contributions to the marital estate. We will present evidence, cross-examine witnesses, and challenge any of the other party’s claims that may be unfair or unsupported by the facts.

Our skilled attorneys will help you navigate the complexities and ensure that all relevant factors are considered, especially when property division involves complex issues such as international assets and businesses.

You will never have to worry that the other party is taking advantage of you, whether by making unfair claims or exerting undue pressure to accept unfavorable terms.

By hiring Leptokaridou Law Firm, you will ensure that the property division process is handled professionally, fairly and in accordance with Greek law, giving you the best possible outcome.

Property Division After a Divorce – FAQ

Is a Wife Entitled to Half of Everything in Greece?

In Greece, the division of property upon divorce does not automatically entitle a wife (or husband) to half of everything.

Unlike some jurisdictions that follow a community property system, Greek law uses a contribution-based approach to property division. This means that instead of a simple 50/50 split, the division of property is based on each spouse’s contribution to the acquisition of property during the marriage.

This contribution can be financial (such as income or investments) or non-financial (such as taking care of the home and children, thereby enabling the other spouse to work and earn).

What is the Matrimonial Regime in Greece?

Greece follows a separation of property regime by default, which means that each spouse retains ownership of the property they brought into the marriage, as well as any property acquired individually during the marriage, unless otherwise agreed upon. There is no automatic pooling of assets into joint ownership upon marriage.

However, Greek law recognizes that both spouses may contribute to the accumulation of property during the marriage. To accommodate this, the law provides for the possibility of claiming a share of the other spouse’s property that has increased during the marriage, as mentioned above. This system ensures that the contributions of each spouse are recognized, especially in cases where one spouse may have supported the household or the career of the other spouse, thereby indirectly contributing to the acquisition of property.

Couples in Greece also have the option of entering into a prenuptial agreement before or during the marriage, which can modify the default regime by establishing different terms for the ownership and division of property, such as creating a community property regime.

Asset Division after Divorce in Greece

Not all assets are subject to division in a Greek divorce.

The following types of assets are generally not subject to division:

• Pre-Marital assets: Any property owned by either spouse before the marriage remains their separate property and is not subject to division upon divorce.
• Gifts and inheritances: Assets that a spouse receives as a gift or inheritance, either before or during the marriage, are generally considered separate property and are not subject to division upon divorce. These assets remain the sole property of the spouse who received them, unless they have been commingled with marital property in a way that makes them indistinguishable.
• Personal belongings: Items considered personal property, such as clothing, personal jewelry, and items of sentimental value, usually remain with the spouse who owns them. These items are usually not subject to division.
• Assets excluded by agreement: If the spouses have a prenuptial or postnuptial agreement (marriage contract) that designates certain assets as exempt from division, those assets remain the property of the designated spouse according to the terms of the agreement.
• Professional tools and instruments: Tools, instruments or equipment necessary for a spouse’s profession or trade are generally not divided. These items are considered necessary to the individual’s livelihood and are usually retained by the spouse who uses them in their professional capacity.