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Old 06-04-2012, 13:22   #1
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Buying a VAT-paid boat in Greece - what legalities

Hi All you Experts.
I am considering purchasing a UK registered boat in Greece which will remain in Greece.
I am a complete foreigner - no EU or UK or USA connection , except for a nephew living in UK.
Its a private deal - no commission or 3rd party ! I am doing my own initial survey and if necessary will have a "expert" opinion for insurance.

Can anyone advise me what the steps will be to "do-the-deed" and take Title ?

I was assuming I would need to do a Lien search - how would that work in Greece ? foreign language and all that ?

Kris
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Old 07-04-2012, 03:44   #2
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Question Re: Buying a VAT-paid boat in Greece - what legalities

Hi Kris,
1 Have sight of HIS bill of sale.

2 Have sight of his registration papers.

If these two are all square you are then safe.

Good luck

Peter
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Old 07-04-2012, 03:49   #3
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Re: Buying a VAT-paid boat in Greece - what legalities

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Hi Kris,
1 Have sight of HIS bill of sale.

2 Have sight of his registration papers.

If these two are all square you are then safe.

Good luck

Peter
That is correct : To make it more solid, execute the transaction through a public notar. It could be that the boat has been mortgaged and the public notar will find out if so. Or that anybody else has first (owners) right. Then make sure that there are no fiscal hang-ups: the guy might be in (fiscal) debt.
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Old 07-04-2012, 04:27   #4
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Re: Buying a VAT-paid boat in Greece - what legalities

Thanks for info...
the one boat I am considering is a 1-owner , so B.O.S. would be from the manufacturer, the other is a 3rd owner... so will definitely check that

I am used to doing a Lien search - any idea how that would work in Greece / EU ? was trying to get all my ducks in a row before contacting local notary.

Kris
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Old 07-04-2012, 05:15   #5
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Re: Buying a VAT-paid boat in Greece - what legalities

Kris, the bill of sale of the previous owner is interesting to have, but not vital.

Vital is the info if the boat is debt-free: that there are no claims by banks, mortgagecoy's
etc. Also the fiscal subject could be an issue. In short, the public notar must/could find out if such debts/claims exist.

Make sure that the boat' s ownership (which one is no issue) is free transferrable. Do not believe whatever the owner/agent will tell you.
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Old 07-04-2012, 18:57   #6
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Kris, the bill of sale of the previous owner is interesting to have, but not vital.

Vital is the info if the boat is debt-free: that there are no claims by banks, mortgagecoy's
etc. Also the fiscal subject could be an issue. In short, the public notar must/could find out if such debts/claims exist.

Make sure that the boat' s ownership (which one is no issue) is free transferrable. Do not believe whatever the owner/agent will tell you.
Depending on how it was financed it can be difficult to conclusively prove if there's outstanding finance. I always exist on a signed declaration, saying the boat is free from liens , etc and is the priority of the declaration and his to sell. Furthermore it indemnified me of any such claims arise in the future. It's again only an added assurance.

Dave
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Old 07-04-2012, 20:50   #7
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Re: Buying a VAT-paid boat in Greece - what legalities

In Holland it does not. We have a central register for any debtor who has a mortgage or considerable loan on a boat, car, or whatever. We have that system already 30 or more years.
So, if you buy a boat of someone it is of vital importance if the boat is free transferable.

In case you do not check this, bank or tax-office will take the boat away in spite of all documents you might present. They are first claimants.
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Old 08-04-2012, 00:41   #8
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Quote:
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That is correct : To make it more solid, execute the transaction through a public notar. It could be that the boat has been mortgaged and the public notar will find out if so. Or that anybody else has first (owners) right. Then make sure that there are no fiscal hang-ups: the guy might be in (fiscal) debt.
It is NOT a requirement to use a NOTARY.

AS FOR THE LEGALITY OF LEINS/MORGAGES/LOANS etc. All that is required is a simple statement signed and witnessed that dtates that there are No Outstanding Debts.

Peter
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Old 08-04-2012, 04:01   #9
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Re: Buying a VAT-paid boat in Greece - what legalities

As I wrote, not in this part. Keep in mind that the Greek tax-office is using any handle to get their share. Therefore you have to operate very carefully.
A sellers statement is worth nothing.
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Old 08-04-2012, 06:02   #10
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As I wrote, not in this part. Keep in mind that the Greek tax-office is using any handle to get their share. Therefore you have to operate very carefully.
A sellers statement is worth nothing.
What do you mean by that ? , what share ? It's a 2nd hand boat sale.

And rivonia is spot on. Buying a boat is about the same as buying a TV, except the price is a lot higher. There are few real procedures that protect you. A sellers indemnification helps, if you have to sue. Fortunately problems are rare.


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Old 08-04-2012, 06:43   #11
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Re: Buying a VAT-paid boat in Greece - what legalities

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What do you mean by that ? , what share ? It's a 2nd hand boat sale.

And rivonia is spot on. Buying a boat is about the same as buying a TV, except the price is a lot higher. There are few real procedures that protect you. A sellers indemnification helps, if you have to sue. Fortunately problems are rare.


Dave
I would agree about the identity check...ask to see his passport,and have your's for him to see. After all,he will be as keen as you to make sure that the sale goes through without any problem.
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Old 08-04-2012, 08:31   #12
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Re: Buying a VAT-paid boat in Greece - what legalities

I am reading these posts very carefully !

Fortunately , this is a 1 owner boat (unless I buy something else) and a local chap assisted in the sea trials and knows them - so hopefully that side is covered.

Its the Boat Lien that has me concerned , if the marina fees were paid for with a bounced cheq , or something similar - a Greek court order may be in place and how would I know ?

keep all the advice coming - with luck I will have my next boat real soon - and then be enjoying my life again.

Kris
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Old 08-04-2012, 08:37   #13
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Re: Buying a VAT-paid boat in Greece - what legalities

@Kris

You understand the problem. Check if there is no legality that may lay a claim on the owner' s posessions or the boat. Bank and Revenue are first claimants in case of debt.
There order prevails everything.
Greek taxes have already confiscated some 1500 yachts. Be careful, that' s all I can say.
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