The main axes of the new Bill for the Land Registry presented today, during the Cabinet meeting, by the Minister of Digital Governance Dimitris Papastergiou and the Deputy Minister of Digital Governance, Konstantinos Kyranakis. The aim is to complete the Land Registration by 2025, to integrate Artificial Intelligence into the legal control of contracts and to simplify the procedures for the transfer of real estate.

More specifically, the main provisions of the bill are:

The completion of land registration in 2025

  • The Land Registry becomes the only body that will manage all real estate transactions, with uniform rules, digital tools for everyone and a digitized record of Mortgage Registries.
  • The Mortgage Registries will be closed for good by the end of 2024, while the final deadline for property declarations remains 30 November 2024.
  • The Bill brings the collapse of final stages in the pending Cadastre studies in order to achieve the goal of completion in 2025.

The use of Artificial Intelligence in the legal control of contracts

  • The supportive use of Artificial Intelligence tools will cut the processing time of complex cases below half.
  • The bill introduces the framework for its safe use.

The release of thousands of property owners held hostage by red tape

  • A constant request of the real estate market is satisfied. The possibility of unilateral modification of the composition of the horizontal property is established when a small difference is found between the measurement of square meters by modern means and the square meters mentioned in the old contract.
  • This arrangement will provide a solution to thousands of property owners who are stuck in dead ends due to small differences in square meters.

The institution of a certified engineer with the right to sign for the thousands of spatial changes to come

  • Easy and quick corrections to the mistakes of old Land Survey studies.
  • The thankless process is abolished, a new digital platform is coming that will provide a solution in 1/3 of the time.