INHERITANCE IN GREECE

Inheritance is the transfer of property, as well as rights and obligations, from a deceased person (the decedent) to other individuals (the heirs). The complex of property, rights and obligations received through inheritance is called hereditary property or inheritance. The process of inheritance takes place either by will or in accordance with the distribution provided by law.

It is important for heirs to understand that, in the process of inheritance, they acquire not only rights to the property but also the obligations of the deceased (for example, any outstanding debts). It is not permitted to accept only the rights to the inheritance while refusing the obligations of the decedent. For this reason, an heir who has accepted the inheritance is deemed to have automatically accepted not only the property rights but also all other obligations of the decedent, whether known or unknown to the heir.

Inheritance by Will

As previously mentioned, upon a person’s death (the decedent), all of their property is transferred either by law or by will to one or more individuals (the heirs). Typically, individuals have a prior understanding of how they would like their property to be disposed of in the event of their death. However, by failing to leave a will, they risk that, after their death, their property will not be inherited by the individuals or in the manner they would have desired.

As previously mentioned, there are two mechanisms of inheritance: by will and by law. The law establishes the order of succession, according to which the inheritance is passed on to the decedent's closest relatives in specified shares. As a rule, sensible and prudent people make a will in order to determine for themselves who gets a certain part of their inheritance. Moreover, they may bequeath property to close friends or even neighbors. However, by failing to leave a will, they risk that their property may be inherited by relatives to whom they were not prepared to bequeath their bank deposits and real estate. Through a will, it is possible to exclude such relatives from the list of heirs. However, despite the decedent's freedom of disposition, a will has one significant limitation: the statutory reserved share, which is granted to the decedent's close relatives.

Inheritance by law

If a citizen did not have the opportunity or did not wish to determine who would inherit their property after their death and failed to leave a will, the inheritance occurs in accordance with the procedure established by law. This procedure involves a specific order of succession. Articles 1813-1824 of the Civil Code of Greece outline six different orders of succession, with the decedent's children and spouse being in the first order of succession, and the state in the sixth. It is important to remember that two orders of succession cannot enter into inheritance rights simultaneously. That is, if, for example, the decedent left a child, a brother, and two grandmothers, the entire inheritance will go solely to the child.

The order of succession is straightforward: the heirs of the first order inherit, if any are present. If none are available, or if none are able or willing to accept the inheritance, the heirs of the second order will inherit. If no heirs are found in that order, the third order of succession is called upon, and so on. If there are several individuals in the order called to inherit, for example, if the decedent left behind a child as well as a spouse, the property is divided between them.

For example, if the decedent was not married and had no children, the heirs will be the decedent's parents, as well as the siblings, in equal shares. If any of the siblings predeceased the decedent, their inheritance rights will pass on to their descendants.

If the decedent was not married but had children, the children will inherit all of the property in equal shares. If any of the children predeceased the decedent, their inheritance rights will pass on to their descendants.

If the decedent has no children or grandchildren but has parents, siblings, and a spouse, the spouse is entitled to ½ of the inheritance, while the decedent’s parents and siblings share the remaining ½ equally.

In the event that you have become an heir to both the assets and the financial obligations of the deceased in relation to third parties, it is crucial to promptly protect your personal property by executing the necessary documentation to prevent the deceased's debts from being collected at the expense of your personal assets.

Each case of inheritance is unique and requires an individual approach. By contacting our Law Office, you will receive not only professional legal advice, but we will also analyze your situation and assist in finding the optimal solution given the circumstances. We have extensive experience in inheritance law and handle matters such as inheritance proceedings, renunciation of inheritance, contesting wills, recognizing ownership rights to inherited property, estate administration, and legal representation in inheritance-related court cases.