Lifting of Property Attachment upon Partial Payment of a Debt

Introduction

The new Article 47A of the Code of Tax Procedure, introduced by Article 18 of Law 5293/2026, allows a debtor to request the lifting of the attachment of a specific propertyin order to transfer it for valuable consideration, that is, usually to sell it.

This new provision resolves a major problem faced by debtors who wished to sell a property that had been seized but were unable to do so under the previous Greek legal framework.

What does the new provision entail?

Under the new legal provision, a debtor may request the the lifting of the attachment of a specific propertyin order to transfer it in exchange for consideration. In other words, the debtor is no longer required to first pay off the entire debt in order to sell the property, but may request the lifting of the attachment for that specific sale, with a portion of the proceeds mandatorily directed to the Greek Independent Authority for Public Revenue (AADE).

The lifting of the lien applies only to the specific property and the specific transfer; it does not mean that the remaining debt is written off.

What is the new procedure?

The procedure is initiated by the debtor themselves via myAADE, in the “My Requests” section.

For the request to be accepted, the following basic conditions must be met altogether:

1. The conditions for issuing a certificate of good standing or a debt certification under Article 12 of the Code of Tax Procedure must be met.
2. The sale price must not be less than the market value of the property at the time of seizure. If the market value is lower than the assessed value, the assessed value is taken into account.
3. A specific amount toward the debt. must be withheld from the sale price and remitted to the Independent Authority for Public Revenue (AADE) The withholding rate is determined based on:

• the debtor’s tax compliance, and
• the collectability of the remaining debt..

In any case, the percentage cannot be less than 25% of the current balance subject to garnishment.

Important exception:

If If the total amount of past-due debts is fully secured by guarantees or collateral, collateral, the withholding of the amount provided for in the above condition is not required.

Conclusion

In conclusion, the new provision of Article 18 of Law 5293/2026, in conjunction with AADE Circular A.1158/2026, introduces a significant relief measure for debtors in Greece. This option is subject to specific conditions, the most important of which is ensuring that a portion of the proceeds is remitted to the Independent Authority for Public Revenue (AADE) to satisfy the debts. The aim is to strike a balance between protecting the interests of the State and allowing the debtor to utilize and liquidate their assets.