Law 5303/2026, titled “Reform of Inheritance Law and Other Provisions,” which adapted the provisions of the Inheritance Law of the Civil Code to the current social conditions in our country.
As noted in a statement by the head of POMIDA, Str. Paradias, one of the most significant changes to this law was the introduction of the possibility to enter into inheritance contracts—previously expressly prohibited—through which the “testator” arranges, during his or her lifetime, in a contract with his or her heirs, the disposition of his or her assets after death.
In light of this development, POMIDA, in its letters dated December 21, 2025, and April 21, 2026, to the political leadership of the Ministry of Justice and the members of the Legislative Drafting Committee on Succession Law, proposed extending the possibility of entering into an inheritance distribution agreement among co-heirs, not only during the testator’s lifetime but also after the testator’s death.
The aim of the proposal was to put an end to the unacceptable, long-standing procedural burden on intestate heirs, who were forced to spend years dealing with successive tax returns, notarial deeds, and registrations, etc. of distributions and exchanges to avoid the undivided fragmentation of assets, by establishing the option for them to draw up a distribution agreement among themselves, which would be registered with the competent Land Registry Office as acceptance of the inheritance, retroactive to the date of the decedent’s death, without any further bureaucratic hassle for them, and without being forced to resort to unorthodox methods.
This well-documented proposal received a positive response from Minister of Justice George Floridis and Deputy Minister Yannis Bougas, resulting in the addition of a third paragraph to the first paragraph of Article 1883 of the Civil Code regarding the distribution of the estate, which provides as follows:
“An agreement between co-heirs by which the estate is distributed, in whole or in part, shall also be deemed an acceptance of the inheritance by the contracting parties.”
Pursuant to Article 33 of the law, this provision will enter into force on September 16, 2026, as will all other provisions amending the Law of Succession; however, such a contract may also be drawn up for deaths that occurred prior to that date, provided that no action for distribution has been filed.
This provision represents a historic turning point in our country’s Succession Law and an invaluable contribution to its citizens, as it relieves intestate co-heirs of the successive procedural hurdles of the undivided co-inheritance of assets, and their subsequent distribution among themselves, with all that this entails, allowing for their direct distribution as of the date of the decedent’s death. This facilitates both the immediate effective management of the assets by each co-heir and the fulfillment of their tax obligations regarding the inheritance tax owed by each.
The conditions for the application of this provision are as follows:
1. The real estate distribution agreement must be drawn up by a notary.
2. All legal intestate co-heirs must be parties to the agreement.
3. It may concern all or part of the undistributed estate.
4. It shall be valid and shall also serve as an acceptance of inheritance for the assets distributed thereunder.
5. Its effect will be retroactive to the date of the decedent’s death.
A key prerequisite for the success of this new institution of inheritance contracts is the acceptance of POMIDA’s further proposal to tax them exclusively under the tax framework for parental gifts and donations (tax-free up to €800,000) rather than the inheritance framework, which remains at €400,000 for the surviving spouse and €150,000 for each child.
POMIDA at the Parliamentary Committee
At the hearing of stakeholders before the relevant Parliamentary Committee, during the deliberation of the draft law on Inheritance Law, POMIDA was represented by its President, Mr. Stratos Paradias, who stated the following:
“Private real estate is the most significant asset and savings component of the Greek family and the most important capital asset of the Greek economy. For this reason, it is, in fact, the primary subject of regulation under our Inheritance Law.
Both the political leadership of the Ministry of Justice and the Chair and members of the Committee for the Reform of Succession Law have every right to be extremely proud, as they are delivering to the country’s legal community—but above all to Greek society and future generations— the historic—literally—reform of this law currently under consideration, which introduces significant changes that our society and economy have needed for decades, such as:
The separation of the estate from the heir’s personal property, in order to limit the phenomenon of mass renunciations of real estate.
The reform of the institution of the statutory share and its conversion into a contractual claim, in order to limit the fragmentation of real estate into small shares and numerous co-owners.
Adapting inheritance succession to modern family structures, with particular emphasis on protecting the surviving spouse or partner.
Maintaining the validity of holographic wills, with additional safeguards in favor of the testator’s family members.
The introduction of the new institution of inheritance contracts between the testator and their legal heirs. Here, I would like to extend my warmest thanks to the political leadership of the Ministry of Justice for accepting our organization’s proposal to legislate the possibility of an inheritance contract after the testator’s death, as a right of the heirs to distribute the estate among themselves, which would serve as acceptance of the inheritance, with each paying their respective share of the tax without having to endure years of hassle at notary offices, the Tax Authority, and the Land Registry with a series of notarial deeds and the unbearable bureaucracy that unfortunately continues to accompany them.
Here I must point out that for this institution to succeed in practice, the tax framework for inheritance contracts must be brought into direct alignment with the tax-exempt framework for parental gifts through legislative regulation.”