One of the fundamental principles of Greek Civil and Tax Law, is the protection of the family and the supply of adequate assets
to children by their parents in order to assist them towards the creation or the maintenance of their family or their financial
independence, or towards the establishment or the continuance of their profession. When these principles do not exceed the
standards which the relevant circumstances allow, we are talking about Greek "Parental Gifts" (goniki parohi); they are not
considered as gifts and are not regulated as such by Greek law.
According to the above, the provisions for gifts in Greece do not apply for gifts in Greece from parents to children and the
Notarial form is not necessary, except from parental gifts which include real estate property; Then, the execution of a Notarial
Deed is necessary.
Greek Law regulates Greek Parental Gifts favourably. However, in no way, the children have the right to demand such parental
gift, through claiming the gift by court proceedings.
Notwithstanding the above, the basic distinction between Greek Parental Gifts to gifts, is their favourable tax treatment.
Their treatment by the tax legislator is obviously more favourable.
In case that Greek Parental Gifts include real estate, the conveyance is implemented through the execution of a
Notarial Deed, by both parties (parent and child) and its subsequent registration in the competent archives of the competent Land
Registry and/or Land Registry Cadastral of the property's location.
The conveyance of real estate through a gift in Greece, is executed through a Notarial Deed. In the absence of
the notarial document, the gift in Greece may be considered to be accomplished upon delivery of the gifted property to the
The gift in Greece may also provide for periodical benefits or "ways", according to which the grantee is obliged to provide
a specific benefit to the grantor in order to receive the gift from him.
The grantor reserves the right to revoke the gift, in case the grantee has proven to be ungrateful toward the grantor or to
the grantor's spouse or to any other of his close relatives and especially, if he has not fulfilled his obligation to provide
support to the grantor. The right to the revocation is extended to the grantor's heirs as well, in case the grantee has
intentionally killed the grantor or prohibited him from revoking the gift in Greece. Such revocation is only performed through
a statement of the grantor to the grantee. The revocation is excluded in case that the grantor has forgiven the grantee, or if
a year has passed since the time that the grantor became aware of the reason for revocation, without proceeding with same.
Finally, the revocation of the Greek Parental Gift, is prohibited when the gift has been performed due to legal or moral
The procedure of Greek Parental Gifts for Greek properties, may be accomplished through a limited Power of Attorney to a
specialised Greek Lawyer, like our Greek Firm.