A draft bill to be submitted to Parliament in the coming weeks introduces a fundamental change to the way inheritances are handled, aiming to resolve a long-standing legal and social problem that has led thousands of citizens to renounce estates each year.
Under the current system, heirs in Greece assume unlimited liability for the debts of the deceased. This means that they may be held personally responsible for outstanding loans, taxes, or other obligations, even when these are unknown at the time of succession. As a result, many heirs have chosen to renounce inheritances altogether, including cases involving valuable property, in order to avoid potentially ruinous liabilities. The uncertainty has often extended beyond immediate relatives to more distant family members and even their children, creating prolonged legal insecurity around inheritance deadlines and obligations.
The new legislation reverses this approach by clearly separating the inherited estate from the heir’s personal assets. Any debts left by the deceased will be settled exclusively from the assets of the estate itself and will not, under any circumstances, be transferred to the heir’s private property. If liabilities exist, they will be covered through the liquidation of inherited assets, with the option to sell only part of the estate—such as a single property—if that is sufficient to cover the outstanding obligations. The bill also strengthens judicial supervision of estate liquidation, with the aim of ensuring transparency and preventing unnecessary renunciations.
This structural separation between estate assets and personal wealth is expected to have significant economic implications. Authorities anticipate a sharp decline in inheritance renunciations, allowing a large volume of currently inactive assets—particularly real estate—to re-enter the economy. Increased legal certainty is also expected to improve liquidity for heirs and enhance confidence among investors and buyers, who will operate in a more predictable and transparent framework.
The reform is also designed to protect family-owned businesses, many of which have faced closure due to fears of undisclosed legacy debts. Under the new system, heirs will be able to continue operating these businesses without risking personal financial exposure, helping to preserve jobs and maintain market stability. More broadly, the activation of dormant assets is expected to support economic growth and increase public revenues through property transfers, business activity, and new investment.
