Legal and Finance Legal The Greek Law on Marital Property
The Greek Law on Marital Property
Following a marriage breakdown in Greece, what participation right is one entitled to claim in marital property?
Marital property (or community property) is property that is acquired from the time when a marriage begins until one spouse files for a divorce in Greece or the couple is no longer living together for at least three years.
Article 1400 of the Greek Civil Code states that if the marriage is legally dissolved in Greece and the property of one of the spouses has, from the time when a marriage in Greece begins, increased, provided the other spouse, has contributed in any way in the increase of that property, then that spouse has the legal right to claim restitution (redress) of the part (portion) of the increase which is derived from his/her contribution. It is presumed that this contribution amounts to one third (1/3) of the increase, unless it is proven that it is greater or less or that there was no contribution at all.
The above paragraph is also applicable by analogy in the case that the couple is no longer living together for at least three years.
In the increase in the property of the spouses one does not include whatever property was acquired by gift, inheritance, or bequest or by disposing any of the property that was acquired by the above means.
The above claim is time barred two years after the final legal dissolution of the marriage in Greece.
Our law office successfully prosecuted a marital property case at one of the Multi Member High Courts in Greece. In this case, the Greek High Court held that the defendant was obligated to pay the plaintiff (our client) the sum of EUROS 205 428.93(including court costs) with statutory interest from the day after the service of process of the lawsuit until full payment. During the marriage the plaintiff had wire transferred the sum of EUROS 198 428.93 into the defendant's bank account so that the defendant could purchase and renovate the property in Greece.
Law Office of Evangelos.S.Karaindros
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105 52, Athens, Greece
Tel: +30 210 802 6039
By Evangelos.S.Karaindros (Member of the Athens Bar)