Pre-Notation of Mortgage Registration Procedure modified from April 28th, 2020 until June 30th, 2020

The most common collateral offered to credit institutions in Greece in the process of securing a loan facility and proceeding to draw-down is the registration of pre-notation of mortgage.

Therefore as a first step in opening up the courts and the economy (by enabling financing) it has been decided to lift the court hearing suspension for certain court procedures and hearings regarding in particular the pre-notation of mortgage registration and discharge as well as the modification of the terms of an already registered pre-notation of mortgage, albeit with a new modified hearing procedure on a documents only base.

In more detail:

1. 1. From April 28th, 2020 till June 30th, 2020 the hearings for granting permission to register a pre-notation of mortgage will take place as follows:

a) The hearing will be "documents only" and the parties will be represented at court by a statement with their true signatures certified furnished through their lawyers.

b) The statement will include the written consent of the mortgagor as well as the secured claim and its total amount as well as the amount of the pre-notation of mortgage. The statement will also include a detailed description of the property or properties.

2. During the same period as per above, the discharge and/ or modification of any pre-notation of mortgage already registered will be done in the same way as per the paragraph No 1. here above.

The consent of the mortgagee will be given in written with the signatory's true signature certified by the appointed bank attorney-at-law.

There is a possibility to extend the application of these measures until December 31st, 2020.