IPT - Do we owe the Developer ?

[helpful herbie]

IPT

Now we are responsible for the IPT but previously it was the responsibility of the Developer (as he owned the land).

Is it a requirement that the IPT is paid back to the Developer when obtaining the Title Deeds ?

[Nigel Howarth]

Hi Herbie,

You'll need to check your contract of sale. Virtually all the contracts I have seen make the purchaser responsible for paying all property-related taxes from the time they take delivery of a property. So in all probability, the answer to your question is yes.

You can read more about Immovable Property Tax and paying the developer at Immovable Property Tax law.

Regards,

[helpful herbie]

That is a great link you attached Nigel, very informative, thank you.

In my contract it says under DUES ..... The Purchaser is responsible to the payment of taxes, rates due to the etc etc .... as well as
for the payment of IPT according to the law 24/80 - 2000

What is this law ? Can I view it anywhere and does it mean that we are liable to pay the Developer the IPT they paid ?

[Nigel Howarth]

Can I view it anywhere and does it mean that we are liable to pay the Developer the IPT they paid ?

You can probably find the on-line - it will be in Greek. And yes, you are liable to pay the Developer IPT.

Regards,