A new regulation went into effect Thursday, giving some breathing space to state debtors, as it allows them to have their property seizure lifted under specific conditions.

The basic condition is that upon selling their property, part of the price will be paid directly to the tax office, through the notary, for the repayment of debts, with the percentage not being lower than 25%.

According to the law, the tax authority approves the lifting of the seizure of real estate that the debtor wishes to sell.

Already for the 46 properties in the tax office’s auction, the owners can then request the issuance of a decision to end the seizure.

Sales cannot be carried out below the objective value.

Source: Ekathimerini.com