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Judicial auctions - Greece

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1 Publicising and pricing regarding the sale of seized assets

The seizure is effected by removing the goods (Article 954 of the Code of Civil Procedure) or by seizing the property belonging to the debtor or a right in rem over the debtor on immovable property (Article 992 CCP) by the bailiff and a report is drawn up in front of an adult witness. The bailiff or the expert instructed by the bailiff for that purpose shall be assessed by the bailiff. In the case of an independent expert, the commercial value of the immovable property must be determined by an independent expert.

The certificate of seizure shall contain: (a) a precise description of the property seized in such a way that there is no doubt as to his identity; (b) the assessment of the property seized by the court bailiff or expert; (c) the price of the first bid which for immovable property must be the commercial value of the property seized; (d) a reference to the enforceable instrument on which enforcement is based, the order served on the debtor and the amount for which the attachment is made; (e) an indication of the day of the auction, which shall be seven (7) months from the date of termination of the seizure and not, however, after eight (8) months from that day, the place of the auction and the name of the auctioneer.

Extract from the certificate of seizure, containing the names of the holder and the respondent, a brief description of the property seized, the first bid price, the name and the exact address of the auctioneer and the place, date and time of the auction, ten (10) shall be published from the seizure on the website of the Bulletin for Judicial Publications of the Lawyers’ Insurance Sector of the National Self-Employed Persons’ Fund.

The auction cannot be done without complying with these formalities, otherwise it is invalid.

2 Third parties that may conduct the sales operation

Property seized shall be sold publicly through an electronic platform before a notary public in the district of the place where the property was seized, appointed for the auction (Article 959 CCP), while the foreclosed immovable property is also auctioned before a notary public in the district in which the property was located, appointed for the auction (Article 998 CCP).

The auction shall take the form of an electronic bid, after the successful bidders have provided security and have been certified in the electronic systems in accordance with Article 959 CCP. Auctions shall take place in the premises of the small claims court in whose district the auction was held, working days, which shall be Wednesday, Thursday or Friday.

3 Auction types for which the rules might not fully apply

Seizure of special assets (Articles 1022-1033 CCP):

Seizure may also be made of the property rights of the judgment debtor, which cannot be subject to seizure in accordance with the procedure laid down in Articles 953 (1) and (2), 982 and 992 of the Code of Civil Procedure, in particular in the case of copyright, patent, the exploitation of cinematographic films, claims against third parties which are subject to consideration, provided that the provisions of substantive law allow the transfer of such rights (Article 1022 CCP).

If the auction of the attached right has been ordered by auction, the small claims court shall appoint the auctioneer (Article 1026 CCP) and the provisions applicable to the auction of movable property shall apply.

4 Information on National registers of assets

There are no national registers of assets

5 Information on databases for creditor’s to identify debtor’s assets or claims

There are no databases that can be used to identify assets or claims of the debtor. There is only a central system which is maintained by the IAPR to which specific authorities (Public Prosecutor’s Office, Tax Office, the Authority of the Money Laundering, Money Laundering, etc.) have access, and which shows the bank accounts held with Greek banks.

6 Information on online judicial sales

Since the beginning of 2018, all auctions are conducted electronically via the electronic Link opens in new window platform.

This is a machine translated version of the content. The owner of this page accepts no responsibility or liability whatsoever with regard to the quality of this machine translated text.

Last update: 18/05/2020