Settling asset encroachment
The online platform regarding state land that has been infringed upon will open in early March
In the first two months of the year the digital platform will be ready for the submission of applications for the acquisition of encroached state land, according to the National Economy and Finance Ministry.
This means that those who meet the conditions will at the beginning of March be able to start the procedures by submitting the relevant supporting documents and paying the relevant fee.
Although the platform should have been open since last September, delays by the General Secretariat of Information Systems postponed the activation of the law, which was passed before the national elections, to 2024. Therefore the special information system “Public Properties Acquisition Requests” will be operationally ready from the beginning of March and, according to the law for the submission of a redemption application, the beneficiaries will have to pay a fee of 300 euros, which is offset against the redemption price.
After the green light from the competent services, the acquisition process proceeds, which is done at the taxable rate of the property, known as the “objective value.” However, the law provides significant discounts that can potentially reach 80% of the property’s taxable value.
According to the law, the acquisition of encroached land of the state concerns cases of properties owned by a private individual for at least 30 years, if there are purchase or title deeds and buildings before 1992, or occupied for at least 40 years, as long as there was a building (which is also the sole residence or commercial holding – e.g. a manufacturing business – of the individual) before 1982.
It is estimated that over nine out of 10 public properties have been encroached upon, as out of a total of 97,029 registered public and exchangeable estates, 89,928 have been encroached upon – i.e. 92%.
On encroached public lands, residences and even apartment buildings, factories, warehouses, agricultural properties, workshops and buildings for any professional use have been erected, which are either owned or leased to third parties.
