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Greek Notary Exam practice questions

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Question 1Role knowledge and related same-jurisdiction law

Under Article 1033 of the Greek Civil Code (Αστικός Κώδικας - ΑΚ), what two statutory requirements are indispensable for the valid contractual transfer of ownership of an immovable property?

  1. A private written contract and hand delivery of keys before two witnesses.
  2. A notarial deed alone, since the notary's official capacity perfects the transfer.
  3. A notarial deed (συμβολαιογραφικό έγγραφο) and transcription/registration in the competent Land Registry or Cadastral Office (μεταγραφή/εγγραφή). Correct answer.
  4. A stamped petition filed before the Single-Member Court of First Instance.

Explanation

Article 1033 ΑΚ provides that for the transfer of ownership of immovable property, an agreement between the owner and the acquirer that ownership is transferred for lawful cause is required, which must be executed by notarial deed and registered in the public mortgage registry or cadastral office.

Question 2Role knowledge and related same-jurisdiction law

Under Article 1034 of the Greek Civil Code (ΑΚ), how is ownership of movable property transferred between living persons?

  1. Solely by a notarial deed registered at the Ministry of Development.
  2. By the transfer agreement alone, delivery being relevant only to the risk of loss.
  3. Exclusively by an affidavit before a magistrate.
  4. By an agreement between the owner and the acquirer that ownership is transferred, coupled with the delivery of possession (παράδοση της νομής). Correct answer.

Explanation

Article 1034 ΑΚ provides that the transfer of ownership of a movable requires an agreement between the owner and the acquirer that ownership is transferred, accompanied by the physical or constructive delivery of possession of the movable to the acquirer.

Question 3Role knowledge and related same-jurisdiction law

Under Article 498 of the Greek Civil Code (ΑΚ), what is the statutory formal requirement for the validity of a contract of donation (δωρεά)?

  1. It requires a notarial deed in every case, with no exception even for a gift that is handed over on the spot.
  2. It can always be executed by simple private informal agreement even for real estate.
  3. It must be drawn up by notarial deed; however, for movables, execution by immediate delivery of the gift cures the lack of notarial deed. Correct answer.
  4. A private written document suffices, provided it is deposited with the tax authority.

Explanation

Under Article 498(1) ΑΚ, a contract of donation must be drawn up by notarial deed on pain of nullity. Paragraph 2 provides that a donation of movable property executed by delivery of the gift is valid even without a notarial document.

Question 4Role knowledge and related same-jurisdiction law

Under Article 1509 of the Greek Civil Code (ΑΚ), how is a parental grant (γονική παροχή) of real estate legally characterized and executed?

  1. As an informal loan contract repayable upon the parent's retirement.
  2. As an ordinary donation in every respect, attracting the same treatment as a gift to a stranger.
  3. As a testamentary bequest taking effect only upon both parents' demise.
  4. As an inter vivos legal transfer for the creation or economic independence of a child, which must be executed by notarial deed and registered. Correct answer.

Explanation

Article 1509 ΑΚ provides that property conveyed by parents to children to establish or maintain economic independence or professional establishment is a parental grant. It requires a notarial deed and land registration when involving immovables, and is not treated as a donation to the extent it corresponds to parental circumstances.

Question 5Role knowledge and related same-jurisdiction law

Under Article 1710 of the Greek Civil Code (ΑΚ), when does succession (κληρονομική διαδοχή) legally open?

  1. Upon the execution of a notarial deed of acceptance by all heirs.
  2. On the date the death is entered in the civil register.
  3. Only after the tax office completes a post-mortem audit.
  4. Immediately upon the physical death or judicial declaration of presumptive death (αφάνεια) of the person. Correct answer.

Explanation

Article 1710(1) ΑΚ establishes that upon the death of a person, their estate passes by succession to one or more persons (heirs) either by will or by operation of law. Article 1711 ΑΚ affirms that the devolution opens at the moment of death.

Question 6Role knowledge and related same-jurisdiction law

Under Article 1724 of the Greek Civil Code (ΑΚ), what are the formal requirements for executing a Public Will (δημόσια διαθήκη)?

  1. The testator hands the notary a sealed envelope containing the will, declaring that it holds their last wishes.
  2. The testator writes and signs the will personally and lodges it with the notary for safekeeping.
  3. The testator dictates their last will to the notary in the uninterrupted presence of three witnesses, or a second notary and one witness. Correct answer.
  4. The testator declares their wishes to the notary alone, the notary's official capacity dispensing with any witnesses.

Explanation

Article 1724 ΑΚ mandates that a public will is made by declaration of the testator's last will before a notary in the presence of three witnesses, or in the presence of a second notary and one witness, adhering to continuous presence and formal reading rules.

Question 7Role knowledge and related same-jurisdiction law

Under Article 1738 of the Greek Civil Code (ΑΚ), what procedure defines the execution of a Mystic Will (μυστική διαθήκη)?

  1. The testator conceals handwritten notes inside a private bank vault without notarial involvement.
  2. The testator dictates the will to the notary, who then seals it in an envelope without reading it back.
  3. The testator presents a sealed document to the notary in the presence of three witnesses (or a second notary and one witness), orally declaring that it contains their last will, which the notary then officially seals and certifies on the envelope. Correct answer.
  4. The testator deposits a sealed envelope with the notary without any declaration as to its contents.

Explanation

Article 1738 et seq. ΑΚ provides that a mystic will consists of the delivery by the testator of a document to the notary in the presence of three witnesses (or a second notary and one witness), with the oral declaration that the document contains their last will, followed by official sealing and a deed inscribed on the envelope.

Question 8Role knowledge and related same-jurisdiction law

Under Article 1721 of the Greek Civil Code (ΑΚ), what are the essential formal requirements for the validity of a Holographic Will (ιδιόγραφη διαθήκη)?

  1. It must be typed on a computer and signed by two witnesses.
  2. It must be handwritten and signed, but a date is not required.
  3. It must be handwritten and signed in the presence of two witnesses.
  4. It must be written entirely by the testator's own hand, dated (day, month, year), and signed by the testator. Correct answer.

Explanation

Article 1721(1) ΑΚ provides that a holographic will must be written entirely by the hand of the testator, dated with indication of day, month, and year, and signed by them. Typewritten holographic wills are absolutely null.

Question 9Role knowledge and related same-jurisdiction law

Under Article 1825 of the Greek Civil Code (ΑΚ), who are the forced heirs (νόμιμοι μεριδούχοι) entitled to a statutory forced share (νόμιμη μοίρα), and what is the proportion of that share?

  1. Only the eldest son, entitled to 100% of the estate.
  2. The descendants and the surviving spouse only, entitled to one-third (1/3) of their intestate share.
  3. The descendants, the parents, and the surviving spouse of the decedent, entitled to one-half (1/2) of their intestate statutory succession share. Correct answer.
  4. The State and municipal authorities, entitled to one-quarter (1/4).

Explanation

Article 1825(1) ΑΚ establishes that descendants, parents, and the surviving spouse who would be called as intestate heirs are forced heirs entitled to a forced share equal to one-half (1/2) of the intestate share they would have received.

Question 10Role knowledge and related same-jurisdiction law

Under Article 1847 of the Greek Civil Code (ΑΚ), what is the statutory deadline for an heir to renounce an inheritance (αποποίηση κληρονομιάς)?

  1. Four (4) months from the date the heir learned of the devolution and the reason for it; or one (1) year if the decedent resided abroad or the heir learned of devolution while residing abroad. Correct answer.
  2. Thirty (30) days regardless of where the decedent or heir resides.
  3. Five (5) years from the date of the funeral.
  4. There is no deadline; an heir may renounce at any time during their life.

Explanation

Article 1847 ΑΚ provides that renunciation of inheritance must take place within four months from the time the heir became aware of the devolution and of the reason for it. If the decedent had their last residence abroad or the heir was residing abroad when learning of it, the period is one year.

Question 11Role knowledge and related same-jurisdiction law

Under Articles 1902 and 1904 of the Greek Civil Code (ΑΚ), what is the primary legal effect of accepting an inheritance with the benefit of inventory (αποδοχή με το ευεργέτημα της απογραφής)?

  1. The heir becomes personally liable for all estate debts with their private property without limitation.
  2. The heir is discharged from the estate's debts altogether once the inventory is filed.
  3. All inheritance assets are immediately forfeited to the Ministry of Finance.
  4. The heir's liability for inheritance debts is limited strictly to the value of the assets comprising the inheritance estate, separating estate property from personal assets. Correct answer.

Explanation

Under Article 1904 ΑΚ, the beneficiary heir is liable for the debts of the inheritance only up to the value of the assets of the inheritance. Personal assets of the heir are separated from the estate, shielding the heir from personal insolvency due to estate debts.

Question 12Role knowledge and related same-jurisdiction law

Under Articles 1956 and 1962 of the Greek Civil Code (ΑΚ), what legal evidentiary presumption does a Certificate of Inheritance (κληρονομητήριο) establish?

  1. It confers irrevocable, unchallengeable title that can never be revoked or disputed in court.
  2. It proves the deceased's death and the date on which succession opened, but says nothing about who inherits.
  3. It establishes a rebuttable legal presumption that the person named therein is the true heir and that no other limitations exist beyond those stated. Correct answer.
  4. It binds the tax authority as to the value of the estate.

Explanation

Article 1962 ΑΚ provides that it is presumed that the person designated in the certificate of inheritance has the heirship rights stated therein and is subject to no restrictions other than those specified. Under Article 1963 ΑΚ, third parties dealing in good faith with the designated heir are legally protected.

Question 13Role knowledge and related same-jurisdiction law

Under Articles 1118 and 1121 of the Greek Civil Code (ΑΚ), how is a predial servitude (πραγματική δουλεία), such as a right of way (δουλεία διόδου), contractually constituted over real estate?

  1. By a private written contract signed between neighbors and kept in their home.
  2. By notarial deed alone, registration being needed only to bind later purchasers.
  3. By a notarial deed between the owners of the dominant and servient tenements and transcription/registration in the Land Registry or Cadastre. Correct answer.
  4. By a decision of the competent town planning authority.

Explanation

Under Article 1121 ΑΚ, predial servitudes are constituted by legal transaction or by prescription. Contractual constitution requires a notarial deed and transcription/registration in the Land Registry or Cadastral Office (Articles 1192 and 1198 ΑΚ).

Question 14Role knowledge and related same-jurisdiction law

Under Article 1142 of the Greek Civil Code (ΑΚ), what rights does the constitution of a usufruct (επικαρπία) grant to the usufructuary over another person's property?

  1. The absolute right to demolish and sell the property as full owner.
  2. The right to use the asset personally, but not to let it or otherwise draw income from it.
  3. A purely contractual right of use, enforceable only against the person who granted it.
  4. The in rem right to possess, use, and reap all natural and civil fruits of the asset, while preserving its economic substance unaltered. Correct answer.

Explanation

Article 1142 ΑΚ defines personal usufruct as an in rem right on an asset of another, conferring upon the beneficiary the complete use and enjoyment (fruits) of the asset, with the obligation to preserve its substance intact.

Question 15Role knowledge and related same-jurisdiction law

Under Article 1257 and Article 1269 of the Greek Civil Code (ΑΚ), what legal instrument is required to constitute a voluntary contractual mortgage (συμβατική υποθήκη) over an immovable?

  1. A simple informal IOUs signed on a receipt pad.
  2. A notarial deed granting the mortgage title, which creates the mortgage on signature.
  3. A private written agreement, followed by inscription in the mortgage books.
  4. A notarial deed granting the mortgage title, followed by inscription in the mortgage books / cadastral register. Correct answer.

Explanation

Under Article 1265 and Article 1269 ΑΚ, the title granting a contractual mortgage is given by notarial deed. The mortgage right itself is acquired solely upon inscription (εγγραφή) of the mortgage in the competent mortgage registry or land cadastre.

Question 16Role knowledge and related same-jurisdiction law

Under Article 1274 of the Greek Civil Code (ΑΚ), on what lawful basis can a mortgage pre-notation (προσημείωση υποθήκης) be registered against real estate?

  1. On a judicial decision, typically granted in interim measures proceedings, or on an order for payment (διαταγή πληρωμής), which by statute confers the same right. Correct answer.
  2. By an oral request made directly to the land registry clerk.
  3. By any private creditor possessing an uncertified invoice.
  4. By unilateral declaration of the debtor's neighbor.

Explanation

Article 1274 ΑΚ provides that a mortgage pre-notation is registered solely on the basis of a judicial judgment, or an order for payment (διαταγή πληρωμής) which by statute confers the right to register a pre-notation.

Question 17Role knowledge and related same-jurisdiction law

Under Article 37 of the Code of Notaries (Law 2830/2000), which activity is expressly compatible with the office of notary?

  1. A salaried post in a public enterprise, provided the notary's own practice continues alongside it.
  2. Teaching legal or related subjects in higher education institutions and in public services or legal persons of public or private law. Correct answer.
  3. Running a commercial business, so long as it is unconnected with the drafting of deeds.
  4. Service in a local authority post, which suspends the notary's practice for its duration.

Explanation

Article 37 § 1 of Law 2830/2000 makes the office of notary incompatible with taking up service in the State, local authorities, public law entities, public enterprises or utilities, and with the exercise of any other professional activity or service. Article 37 § 2 then carves out three express exceptions: teaching legal or related subjects at higher and tertiary institutions and in State, public law and private law bodies; sitting on the councils and committees of foundations, associations, organisations or public law entities; and being assigned administrative duties.

Question 18Role knowledge and related same-jurisdiction law

Under Article 217(2) of the Greek Civil Code (ΑΚ), what formal requirement applies to a power of attorney (πληρεξουσιότητα) authorizing an agent to execute a notarial conveyance of real estate?

  1. It can be given orally over the telephone.
  2. A private written document suffices, since the notarial form is required only of the conveyance itself.
  3. A simple text message is legally sufficient.
  4. It must be drawn up by notarial deed, following the formal requirement prescribed for the authorized legal transaction itself. Correct answer.

Explanation

Article 217(2) ΑΚ dictates that the power of attorney must adhere to the formal type required for the legal act for which the authorization is given. Since the transfer of real estate requires a notarial deed (Article 1033 ΑΚ), the POA to sell or buy real estate must itself be a notarial instrument on pain of absolute nullity.

Question 19Role knowledge and related same-jurisdiction law

Under Article 1400 of the Greek Civil Code (ΑΚ), what statutory presumption applies to a spouse's contribution to property acquired by the other spouse during marriage upon dissolution or separation?

  1. The spouse is presumed to have contributed 100% of all assets.
  2. The spouse's contribution is legally presumed to amount to one-third (1/3) of the increase in the other spouse's property, unless proven to be more, less, or zero. Correct answer.
  3. Spouses have zero claims against each other's property regardless of contribution.
  4. All property automatically transfers to the municipality.

Explanation

Article 1400 ΑΚ regulates the claim for participation in acquisitions (αξίωση συμμετοχής στα αποκτήματα). If the marriage is dissolved or annulled and one spouse's patrimony has increased, the other spouse is entitled to claim the part of the increase resulting from their contribution, which the law presumes to be 1/3 unless proved otherwise.

Question 20Role knowledge and related same-jurisdiction law

Under Article 1045 of the Greek Civil Code (ΑΚ), what conditions must be satisfied to acquire ownership of immovable property through Extraordinary Usucaption (έκτακτη χρησικτησία)?

  1. Ten (10) years of possession as owner, coupled with good faith and a lawful title.
  2. Twenty (20) years of possession, but only where the possessor also holds a registered title.
  3. Continuous and uninterrupted possession of the property as owner (νομή με διάνοια κυρίου) for twenty (20) years, without requiring lawful title or good faith. Correct answer.
  4. Thirty (30) years of possession, the period applicable to immovables.

Explanation

Article 1045 ΑΚ provides that whoever has had in their possession a movable or immovable thing for a period of twenty years as an owner acquires ownership thereof (extraordinary usucaption), requiring neither title nor good faith.

Question 21Role knowledge and related same-jurisdiction law

Under Article 1041 of the Greek Civil Code (ΑΚ), what are the statutory prerequisites for acquiring immovable property through Ordinary Usucaption (τακτική χρησικτησία)?

  1. Possession as owner for ten (10) years, based on a lawful title (νόμιμο τίτλο) transcribed in the land registry, and in good faith (καλή πίστη). Correct answer.
  2. Three (3) days of squatting in an abandoned warehouse.
  3. Twenty (20) years without any title.
  4. A notarial deed signed without actual possession.

Explanation

Article 1041 ΑΚ provides that one who possesses an immovable thing in good faith, with lawful title, for ten years as owner, acquires ownership by ordinary usucaption. Under Article 1043 ΑΚ, for immovables, the title must be registered/transcribed.

Question 22Role knowledge and related same-jurisdiction law

Under Article 1012 of the Greek Civil Code (ΑΚ), when is a landlocked property owner entitled to demand a compulsory right of way (παροχή διόδου) from adjoining neighbors?

  1. Whenever the owner desires a shorter walking route to the beach.
  2. Whenever the existing access is less convenient than a route across the neighbour's land.
  3. Free of charge under all circumstances without any compensation to the neighbor.
  4. When the immovable property completely lacks necessary access to a public road, or has access that is wholly insufficient for its proper exploitation, upon paying reasonable compensation. Correct answer.

Explanation

Article 1012 ΑΚ provides that if an immovable lacks the necessary communication with a public road, the owner may demand against payment of reasonable indemnity a passage across neighboring lands, determined in the least damaging manner (Article 1013 ΑΚ).

Question 23Role knowledge and related same-jurisdiction law

Under Article 972 of the Code of Civil Procedure (ΚΠολΔ), what must a creditor other than the seizing creditor do in order to share in the distribution of the auction proceeds?

  1. Register a mortgage over the seized property before the auction takes place.
  2. Obtain a separate enforceable title against the same debtor and levy a second seizure.
  3. File a notice of claim (αναγγελία) with the auction officer, within the statutory deadline, setting out the claim and the ground of any privilege relied on. Correct answer.
  4. Nothing at all: the auction officer is bound to search the public registers and include every known creditor.

Explanation

Under Article 972 ΚΠολΔ a creditor who wishes to be paid out of the proceeds files an αναγγελία with the notary acting as auction officer, stating the claim, its amount and any privilege or real security invoked, and attaching the supporting documents. Creditors with a registered mortgage, pre-notation or other special privilege on the property must be notified, but they too must still come in through the notice procedure to be ranked. A creditor who fails to give notice in time is left out of the ranking table even though the debt is perfectly valid.

Question 24Role knowledge and related same-jurisdiction law

Under Articles 513 and 515 of the Greek Civil Code (ΑΚ), what are the principal obligations of the seller in a contract of sale of real estate?

  1. To provide complimentary interior decoration for five years.
  2. To transfer ownership only; freedom from mortgages and other encumbrances is the buyer's own concern.
  3. To deliver possession, ownership passing automatically once the price is paid in full.
  4. To transfer ownership and deliver possession of the real property free from legal defects (such as third-party mortgages or claims) and actual material defects. Correct answer.

Explanation

Under Article 513 et seq. ΑΚ, the seller is bound to transfer ownership and deliver the thing sold to the buyer, free from legal defects (Article 514 ΑΚ) and free from material defects (Article 534 ΑΚ), executed by notarial deed for real property.

Question 25Role knowledge and related same-jurisdiction law

Under Article 4 of Law 4548/2018 on Societes Anonymes (Ανώνυμες Εταιρείες - Α.Ε.), when is a notarial deed mandatory for the incorporation or amendment of the articles of association of an A.E.?

  1. Never; an A.E. can only be formed by oral agreement.
  2. A notarial deed is mandatory in every case, the standard template being available only for partnerships.
  3. Only when the share capital exceeds the statutory minimum of €25,000.
  4. A notarial deed is mandatory unless the company is incorporated using the standard model statutory template (πρότυπο καταστατικό) through the electronic One-Stop Shop (ΥΜΣ), or whenever real estate is contributed as share capital. Correct answer.

Explanation

Under Article 4 of Law 4548/2018, the articles of association of an A.E. must be drawn up by notarial deed, unless the standard statutory template is adopted through the e-One-Stop-Shop (e-ΥΜΣ). Furthermore, whenever real estate is contributed to capital, notarial form is strictly mandatory.

Question 26Role knowledge and related same-jurisdiction law

Under Article 15(2) of Law 4548/2018, what is the statutory minimum share capital required for the valid incorporation of a Greek Societe Anonyme (Α.Ε.)?

  1. One euro (€1).
  2. Five thousand euros (€5,000).
  3. Twenty-five thousand euros (€25,000). Correct answer.
  4. One hundred thousand euros (€100,000).

Explanation

Article 15(2) of Law 4548/2018 explicitly sets the minimum share capital of a Societe Anonyme at twenty-five thousand euros (€25,000), which must be fully covered and paid up upon incorporation.

Question 27Role knowledge and related same-jurisdiction law

Under Articles 17 and 18 of Law 4548/2018, what statutory procedure must be observed when a shareholder contributes immovable property in kind (εισφορά σε είδος) to cover share capital in an A.E.?

  1. The property is valued informally by the shareholder's accountant.
  2. The property is entered at its objective tax value, which the law treats as conclusive.
  3. A formal valuation report must be prepared by two certified auditors (ορκωτοί ελεγκτές λογιστές) or an independent appraisal firm, and the conveyance must be executed by notarial deed and registered in the Land Registry. Correct answer.
  4. No valuation is necessary if the board of directors agrees unanimously.

Explanation

Articles 17 and 18 of Law 4548/2018 mandate an official expert valuation of contributions in kind by two certified statutory auditors or certified valuation experts to protect corporate capital integrity. Conveyance of immovable property requires notarial deed and land registry transcription.

Question 28Role knowledge and related same-jurisdiction law

Under Law 3190/1955 on Limited Liability Companies (Εταιρείες Περιορισμένης Ευθύνης - Ε.Π.Ε.), what is the formal requirement for executing the company contract and amendments?

  1. A private written document suffices, as it does for a Private Company (Ι.Κ.Ε.).
  2. It can be concluded by private uncertified notes exchanged between partners.
  3. Notarial form is required only where immovable property is contributed to the capital.
  4. It must be drawn up by notarial deed (or standard statutory template via the One-Stop Shop) on pain of absolute nullity. Correct answer.

Explanation

Under Article 6 of Law 3190/1955 as amended, the contract of an E.P.E. must be drawn up by notarial deed (or standard template via the electronic one-stop shop) on pain of nullity, and any amendment requires the same formal solemnity.

Question 29Role knowledge and related same-jurisdiction law

Under Law 4072/2012 (Articles 43–120), when is a notarial deed strictly mandatory for the incorporation of a Private Company (Ιδιωτική Κεφαλαιουχική Εταιρεία - Ι.Κ.Ε.)?

  1. In all cases without exception.
  2. Only when a special statutory provision requires it, such as when immovable property or in rem rights over real estate are contributed to the company capital. Correct answer.
  3. Never; an I.K.E. can never under any circumstances involve a notary.
  4. Only if the company operates in maritime passenger transport.

Explanation

Under Article 49 of Law 4072/2012, an I.K.E. is generally formed by private document. However, notarial form is required if specifically prescribed by law, particularly where immovable property is contributed to the company, as real estate transfers necessitate a notarial deed under Article 1033 AK.

Question 30Role knowledge and related same-jurisdiction law

Under Law 4072/2012 (Articles 77–79), what are the three distinct categories of contributions that partners may provide in a Greek Private Company (Ι.Κ.Ε.)?

  1. Gold bars, foreign currency, and municipal bonds.
  2. Capital contributions (κεφαλαιακές), non-capital contributions such as labor/services (εξωκεφαλαιακές), and guarantee contributions (εγγυητικές). Correct answer.
  3. Direct government grants, family loans, and lottery tickets.
  4. Tangible real estate only.

Explanation

Law 4072/2012 introduced a flexible tripartite contribution framework for the I.K.E.: (1) capital contributions in cash or assets in kind, (2) non-capital contributions involving work or service obligations, and (3) guarantee contributions where a partner undertakes liability for company debts up to an agreed amount.

Question 31Role knowledge and related same-jurisdiction law

Under Law 4601/2019 on Corporate Transformations (Εταιρικοί Μετασχηματισμοί), when must a merger (συγχώνευση) or demerger (διάσπαση) agreement be executed by notarial deed?

  1. Only when approved by a local municipal council.
  2. In every case, since a merger always transfers the whole of the absorbed company's assets.
  3. Whenever the transferring or participating corporate entity transfers ownership or in rem rights over immovable property, or when the legal form of one of the participating companies requires notarial form. Correct answer.
  4. Never; Law 4601/2019 abolished notarial deeds for all corporate reorganizations.

Explanation

Under Law 4601/2019, corporate transformations involving the transfer of real estate or when involving companies whose constitution mandates notarial form (such as traditional AE or EPE forms where applicable) must be executed by notarial deed and registered in the Land Registry and GEMI.

Question 32Role knowledge and related same-jurisdiction law

Under Law 4919/2022 governing the General Commercial Registry (Γ.Ε.Μ.Η.), what legal effect does the registration of a new company's articles of incorporation create regarding its corporate existence?

  1. Purely informative publicity with no legal consequences.
  2. Declaratory effect only: the company already exists from the moment the articles are signed before the notary.
  3. Constitutive effect (συστατική δημοσιότητα), whereby the company officially acquires legal personality (νομική προσωπικότητα) upon registration in GEMI. Correct answer.
  4. Retroactive effect back to the date the founders first agreed to incorporate.

Explanation

Under Law 4919/2022 and corporate statutes (e.g., Law 4548/2018 Art. 9, Law 4072/2012 Art. 51), registration in the General Commercial Registry (Γ.Ε.Μ.Η.) possesses constitutive effect (συστατικό χαρακτήρα): legal personality is born upon entry into the register.

Question 33Role knowledge and related same-jurisdiction law

Under Article 479 of the Greek Civil Code (ΑΚ), when an entire commercial business or enterprise (επιχείρηση) is contractually transferred, what is the extent of the acquirer's joint liability for pre-existing debts?

  1. The acquirer has no liability for any prior debts under any conditions.
  2. The acquirer replaces the transferor entirely, who is released from the business debts.
  3. The acquirer is liable for unlimited amounts extending to their heirs forever.
  4. The acquirer is jointly and severally liable with the transferor up to the value of the transferred enterprise assets at the time of transfer. Correct answer.

Explanation

Article 479 ΑΚ provides that the acquirer of an entire estate or commercial business is jointly and severally liable with the transferor for the debts belonging to the business up to the market value of the assets transferred at the date of the transfer.

Question 34Role knowledge and related same-jurisdiction law

Under Law 2844/2000, how is a registered non-possessory commercial pledge (πλασματικό ενέχυρο) established over business machinery while leaving the equipment in the debtor's physical possession?

  1. By an oral promise made before two business associates.
  2. By a written contract in notarial or certified form and registration in the public Pledge Register (Ενεχυροφυλακείο) of Law 2844/2000. Correct answer.
  3. By placing a paper notice on the debtor's office door.
  4. By publishing an announcement on a social media forum.

Explanation

Law 2844/2000 allows enterprises to pledge movable equipment, inventory, or claims while retaining physical possession, provided the agreement is executed in writing (notarial deed or certified document) and inscribed in the Public Pledge Register (Ενεχυροφυλακείο).

Question 35Role knowledge and related same-jurisdiction law

Under Articles 59–74 of Law 4548/2018, what formal instrument is required when a Societe Anonyme issues a secured bond loan (ομολογιακό δάνειο) backed by real estate mortgages?

  1. A board resolution alone, since the bond terms bind the company internally.
  2. A private written agreement with the bondholders' representative, registered in GEMI.
  3. Registration of the bond issue in the General Commercial Registry, which perfects the security automatically.
  4. A notarial deed recording the mortgage program and securing the bond loan terms, transcribed in the mortgage register / cadastre. Correct answer.

Explanation

Under Law 4548/2018, when an A.E. issues a secured bond loan encumbering corporate real estate with mortgages, the mortgage program and collateral security must be executed by notarial deed and registered in the public mortgage registry / cadastral office.

Question 36Role knowledge and related same-jurisdiction law

Under Law 4072/2012, what is the extent of liability of general partners in a Greek General Partnership (Ομόρρυθμη Εταιρεία - Ο.Ε.) for corporate obligations?

  1. They have no personal liability whatsoever.
  2. Each partner answers only for a share of each debt proportionate to their holding.
  3. They are jointly, severally, and unlimitedly liable with all their personal assets (εις ολόκληρον και απεριόριστα). Correct answer.
  4. They are liable only after the partnership itself has been declared bankrupt.

Explanation

Under Article 249 of Law 4072/2012, general partners in an OE are jointly, severally, and without limitation liable with their entire personal estate for all obligations and debts of the partnership.

Question 37Role knowledge and related same-jurisdiction law

Under Law 4548/2018 (Articles 167–171), what occurs upon the dissolution (λύση) of a Societe Anonyme?

  1. The assets are immediately distributed to random bystanders.
  2. Legal personality ends at once and the remaining assets pass directly to the shareholders.
  3. All corporate debts are automatically canceled by the State.
  4. The company enters into liquidation (εκκαθάριση), the board of directors is replaced by liquidators (εκκαθαριστές), and legal personality continues solely for liquidation purposes. Correct answer.

Explanation

Under Article 167 of Law 4548/2018, dissolution of an A.E. is followed by liquidation (unless resulting from bankruptcy or merger). The company's legal personality continues for the needs of liquidation, managed by appointed liquidators who satisfy creditors before distributing any surplus.

Question 38Role knowledge and related same-jurisdiction law

Under Article 20 of Law 4548/2018, what is the statutory procedure and timeframe for certifying the payment of initial share capital (πιστοποίηση καταβολής κεφαλαίου) in a Societe Anonyme?

  1. Verification must be completed within twelve (12) months from incorporation.
  2. No verification is ever required for cash contributions.
  3. Verification is carried out by the notary who drew up the articles of association.
  4. Capital verification must be completed within two (2) months from incorporation by the Board of Directors or certified statutory auditors and filed with GEMI. Correct answer.

Explanation

Article 20 of Law 4548/2018 mandates that the Board of Directors (or a certified statutory auditor for listed or large companies) must verify the payment of initial share capital within two (2) months from the company's incorporation and submit the verification report to GEMI.

Question 39Role knowledge and related same-jurisdiction law

Under Article 104 et seq. of Law 4601/2019, what is the legal effect of converting a corporate entity from one legal form to another (μετατροπή εταιρείας)?

  1. The old company is liquidated, dissolved, and all existing contracts are terminated.
  2. The company continues its legal existence under the new corporate form without liquidation, preserving all existing rights and contractual relationships seamlessly. Correct answer.
  3. The conversion creates two separate competing companies.
  4. All intellectual property rights of the company are forfeited to the State.

Explanation

Under Article 104 of Law 4601/2019, corporate conversion (μετατροπή) does not entail liquidation or the creation of a new legal entity; the company simply continues its legal personality under the new corporate form, retaining all assets, liabilities, and ongoing contracts without interruption.

Question 40Role knowledge and related same-jurisdiction law

Under Article 28 of Law 3190/1955 on Limited Liability Companies (Ε.Π.Ε.), what is the formal requirement for transferring company shares/parts (εταιρικά μερίδια)?

  1. A simple oral handshake.
  2. A private written agreement entered in the company's book of partners.
  3. A private written agreement filed with the tax authority.
  4. A notarial deed (συμβολαιογραφικό έγγραφο) and publication in GEMI. Correct answer.

Explanation

Article 28 of Law 3190/1955 mandates that the transfer of company parts in an E.P.E. must be executed by notarial deed and recorded in the commercial register (GEMI) on pain of nullity.

Question 41Role knowledge and related same-jurisdiction law

Under Greek corporate law (Law 4548/2018, Law 4072/2012, Law 3190/1955), what formal requirement applies to contracts concluded between a single-member company and its sole shareholder/partner?

  1. Such contracts are prohibited outright, whatever formalities are observed.
  2. The contract must in every case be executed by notarial deed.
  3. The contract must be drawn up in writing or recorded in the minutes of the general meeting / board on pain of nullity, unless it relates to current commercial transactions under ordinary terms. Correct answer.
  4. No rules apply; sole owners may do whatever they wish informally.

Explanation

Greek corporate statutes mandate that contracts between a single-member company and its sole owner/partner must be in writing or recorded in general meeting/board minutes to ensure transparency and protect potential creditors, unless concerning ordinary daily business on standard market terms.

Question 42Role knowledge and related same-jurisdiction law

Under the Code of Private Maritime Law (Law 5020/2023, which replaced Law 3816/1958 from 1 May 2023), what is the formal requirement for establishing a maritime mortgage (ναυτική υποθήκη) over a Greek registered ship?

  1. An oral agreement between shipowner and bank.
  2. A notarial deed or consular act (if abroad) and inscription in the Ship Mortgage Register (Νηολόγιο) of the port of registry. Correct answer.
  3. A written note left in the ship captain's cabin.
  4. An entry on an international maritime satellite network.

Explanation

A maritime mortgage over a Greek ship is constituted by notarial deed, or by an act of a Greek consular authority where it is executed abroad, and is perfected by registration in the mortgage register kept alongside the ship registry (νηολόγιο) of the port of enrolment. The governing text is now the Code of Private Maritime Law enacted by Law 5020/2023, which unified the rules on the simple and the preferred maritime mortgage and replaced Law 3816/1958 with effect from 1 May 2023.

Question 43Role knowledge and related same-jurisdiction law

Under the Greek Insolvency Code (Νέος Πτωχευτικός Κώδικας - Law 4738/2020), what role do notaries perform in debt settlement and collective bankruptcy proceedings?

  1. They act as criminal prosecutors in corporate bankruptcy fraud trials.
  2. They are appointed as insolvency administrators (σύνδικοι) to manage the estate.
  3. They conduct electronic liquidation auctions of insolvency estate assets (πλειστηριασμοί πτωχευτικής περιουσίας) as appointed auction officers. Correct answer.
  4. They have no involvement whatsoever in insolvency proceedings.

Explanation

Under Law 4738/2020 (Insolvency Code), when bankruptcy liquidation is ordered, debtor assets and business units are liquidated through electronic public auctions conducted by certified notaries acting as statutory auction officers (υπάλληλοι πλειστηριασμού).

Question 44Role knowledge and related same-jurisdiction law

Under Greek commercial jurisprudence and Article 179 of the Civil Code (ΑΚ), when is a non-compete clause (ρήτρα μη ανταγωνισμού) in a commercial sale of business agreement enforceable?

  1. It is enforceable in whatever terms the parties agreed, since freedom of contract governs commercial sales.
  2. It is always enforceable for the lifetime of the seller without any geographic limit.
  3. It is strictly prohibited and void under all circumstances in Greek law.
  4. It is enforceable only if reasonable in duration (typically up to 2–5 years), geographical scope, and product market, so as not to disproportionately stifle economic liberty. Correct answer.

Explanation

Greek courts evaluate post-sale commercial non-compete clauses under Articles 178 and 179 ΑΚ: to be valid, a non-compete covenant protecting enterprise goodwill must be reasonable in time (typically 2–3, max 5 years), geographic market, and specific business activity; excessive restrictions are void.

Question 45Role knowledge and related same-jurisdiction law

Under Article 904(2)(c) of the Greek Code of Civil Procedure (ΚΠολΔ), what legal effect does a notarial deed have when it incorporates an obligation to pay a liquidated sum of money?

  1. It constitutes an enforceable title (εκτελεστός τίτλος), allowing forced execution without requiring a prior court judgment. Correct answer.
  2. It has no legal evidentiary weight until validated by a supreme court panel.
  3. It operates solely as an unbinding moral commitment.
  4. It allows execution only if confirmed by a local police sergeant.

Explanation

Article 904(2)(c) KPolD establishes that notarial deeds constitute autonomous enforceable titles (εκτελεστοί τίτλοι) when they contain an obligation to pay a liquidated amount of money or deliver tangible items, enabling direct enforcement without prior litigation.

Question 46Role knowledge and related same-jurisdiction law

Under Article 918 of the Greek Code of Civil Procedure (ΚΠολΔ), who is statutorily authorized to issue an executory copy with the formula of execution (απόγραφο) for a notarial deed?

  1. The clerk of the Court of First Instance in whose district the deed was executed.
  2. The president of the competent Notarial Association.
  3. The notary who drew up the deed (or their statutory archive custodian / successor). Correct answer.
  4. The judge who would hear any opposition to the execution.

Explanation

Article 918(2)(b) KPolD provides that for notarial deeds, the executory copy (απόγραφο) bearing the executory formula is issued by the notary who drafted the act or whoever holds the official archive of that notary.

Question 47Role knowledge and related same-jurisdiction law

Under Article 959 of the Greek Code of Civil Procedure (ΚΠολΔ), how are forced public auctions (πλειστηριασμοί) of seized assets conducted in Greece?

  1. Electronically for immovables, but still in person before a notary for movable property.
  2. By open-air oral bidding before the court that ordered the execution.
  3. Electronically, with the judicial bailiff rather than a notary presiding as auction officer.
  4. Exclusively by electronic means (ηλεκτρονικός πλειστηριασμός) through the centralized digital portal (eauction.gr) before a certified notary acting as auction officer. Correct answer.

Explanation

Under Article 959 KPolD (as amended by Law 4512/2018), all forced public auctions of movables and immovables are conducted exclusively electronically via the integrated e-auction platform (eauction.gr) under the statutory supervision of a certified notary acting as the auction officer (υπάλληλος του πλειστηριασμού).

Question 48Role knowledge and related same-jurisdiction law

Under Article 965 of the Greek Code of Civil Procedure (ΚΠολΔ), what security deposit (εγγυοδοσία) must a prospective bidder deposit to participate in an electronic auction?

  1. One hundred percent (100%) of the total property value in cash.
  2. Ten percent (10%) of the starting upset price.
  3. No deposit is required; anyone may bid without financial commitment.
  4. Thirty percent (30%) of the starting upset price (τιμή πρώτης προσφοράς), deposited into the notary's designated auction bank account or via bank guarantee. Correct answer.

Explanation

Article 965(1) KPolD establishes that to qualify for participation in an electronic auction, each prospective bidder must deposit a security guarantee equal to thirty percent (30%) of the first bid / upset price into the special auction account of the notary or provide a recognized bank guarantee.

Question 49Role knowledge and related same-jurisdiction law

Under Article 1005 of the Greek Code of Civil Procedure (ΚΠολΔ), what is the legal nature and effect of the summary of the award report (περίληψη κατακυρωτικής έκθεσης) drawn up by the notary?

  1. It serves only as a non-binding receipt for auction expenses.
  2. Upon transcription/registration in the Land Registry / Cadastre, it vests ownership of the auctioned property in the successful bidder and constitutes an enforceable title for eviction against the debtor. Correct answer.
  3. It transfers ownership to the seizing creditor automatically.
  4. It cancels the auction and returns the property to the debtor.

Explanation

Under Article 1005 KPolD, once the purchase price is fully paid, the notary issues a summary of the award deed (περίληψη έκθεσης κατακύρωσης). Transcription of this summary transfers ownership to the bidder free of prior mortgages and seizures, and acts as an executory title to evict the debtor or occupants.

Question 50Role knowledge and related same-jurisdiction law

Under Article 975 of the Greek Code of Civil Procedure (ΚΠολΔ), what rank do claims for employee wages, severance pay, and social security contributions (e-EFKA) enjoy among general privileges (γενικά προνόμια)?

  1. They have no priority and rank alongside unsecured common claims.
  2. They enjoy a special privilege over the auctioned asset, ranking ahead of any registered mortgage.
  3. They are prioritized as high-ranking general privileges (ranks 2 and 3) ahead of ordinary unsecured commercial creditors. Correct answer.
  4. They are paid only after all corporate shareholders receive dividends.

Explanation

Article 975 KPolD establishes the statutory order of general privileges in auction distribution: employee wages (for up to six months) and compensation, followed by social security fund claims and tax liabilities, rank before general unsecured creditors in the ranking table.