By Vangelis Dourakis

With the help of artificial intelligence and with express procedures thousands ‘Orphaned’ real estate They will pass, within the next period, into state hands: These are properties, for which the heir is unknown or not yet found or not sure that he has accepted the property. These are the so -called school inheritance. The Ministry of National Economy and Finance announces a plan on the basis of which all these property will be used by the State itself.

Each point in the relevant procedure is included in the promoted bill with the title “Framework for donations to the State, school legacies, institutions and public assets”presented by the Minister responsible Kostis Hatzidakis.

‘Orphaned’ real estate and clearing out of artificial intelligence

Artificial intelligence will have a central role in the whole plan through which the State will proceed with the automatic search for heirs, with the aim of directly identifying whether they have accepted or disclaimed property and the legacy passing through the real beneficiaries or, ultimately, to the State.

There are a few times when the research reveals third parties who have either trampled on the deceased’s property, citing usability or claim their own real estate by producing handwriting willsfor which years have passed until their authenticity is judged in the courts.

Under the existing legislation, any person who knows information or information on property of the Code of Public Benefit and Scholars The Inheritance Code must declare it without undue delay in the Department of Public Property of the Ministry of Finance in order to take over the state.

If no heirs are found who will accept the inheritance, the public is recognized as ‘Out of an undisputed’ her heir.
In these cases, however, it may take years until the inheritance right to the State is completed and recognized.
So the state of the circumstances decided to put forward a plan to liquidate about 7,000 properties derived from Schools (“orphaned)” legacies.

According to government planning, artificial intelligence is employed to identify “forgotten” inheritance and reduces from 4 years to 6-12 months the time required to liquidate the school inheritance.

The ministry estimates that this process will also allow the utilization of these properties to deal with the acute. housing problem. That is, it is believed that the expression of expression of the State’s inheritance rights to school inheritance and their rapid clearance can help to help vulnerable households to secure a low price in the context of its low price. Government’s social housing policy.

The same bill will also emphasize the modernization and introduction of innovative practices for the effective management and supervision of public interests and bequests, whose value is € 1.12 billion.

What will the school inheritance bill foreseen

For the clearance of the hereditary schools, the bill provides for the following:

1. The State, through the Citizens’ Register, finds that there are no other relatives who could inherit (as is the case with a retirement discontinuation). The Public Property Secretariat will automatically be informed of interoperability with the Ministry of Justice.

2. Immediate finding of the value of the property by certified appraisers of the relevant registry maintained by the Greek State (either companies or natural persons) prior to the designation of a school’s guardian and liquidator.

3. Accelerate the clearing process, depending on the value of assets. Specifically for property value:

  • Up to 20,000 decentralized administrations will take over company subscription administrations
  • From 20,000 to 1,000,000 euros are taken over by lawyers, accountants and audit companies registered in the register
  • Over 1m euros are undertaken by Audit Companies

4. Utilizing the real estate that is left after the liquidation of the state housing policy.