GREECE Law and Practice Contributed by: Betty Smyrniou, Bahas, Gramatidis & Partners
2.7.2 Assignment/Novation of Leases Under Foreign Laws Assignment and assumption agreements or novation agreements (or deeds) are executed as three-party agreements and are filed with the HCAA. Usually, the lease provides that the lessee consents to these transfer agreements or the terms for such transfer. There are no mandatory terms that need to be includ - ed in such agreement/deed, as they are governed by applicable law. 2.7.3 Enforceability of Lease Assignments/ Novations If an aircraft and/or engine lease assignment and assumption/novation is executed abroad it will need to be notarised and apostilled. If executed in Greece, the authenticity of the signature needs to be certified by a competent Greek public authority. 2.7.4 Filing/Registration of Lease Assignments/ Novations Lease assignments/novations need to be filed with the HCAA, along with the transfer of ownership docu - mentation (if applicable), and are not subject to any consent from any government entity. The completion process is typically swift, and no gov - ernment consents are necessary prior to executing and delivering an aircraft and/or engine lease assign - ment and assumption/novation concerning an aircraft registered domestically, as long as all relevant docu - ments have been properly filed. 2.7.5 Taxes/Duties Payable on Assignment/ Novation Taxes/duties are not payable in respect of the execu - tion of an aircraft lease assignment and assumption/ novation agreement, or as a consequence of an origi - nal or copy thereof being brought into Greece, either physically or electronically. However, there may be issues related to duties that have to be reviewed ad hoc.
2.7.6 Recognition of Transfer of Ownership Interests When the ownership interest of an entity that owns an aircraft is transferred (with the legal title to the asset remaining with that entity), no filing with the Greek aircraft register is required. This is because the entity in question remains the registered legal owner of the aircraft. 2.8 Aircraft Deregistration and Export 2.8.1 Deregistering Aircraft in This Jurisdiction The lessee, lessor or owner can deregister an aircraft ‒ although the existence of a DerPoA may be required for the lessor to apply for deregistration. This applies even when lease expiry obligates the HCAA to dereg - ister the aircraft. Αn application for the deregistration of the aircraft will have to be submitted to the HCAA. Customs clear - ance may also need to be submitted. In cases other than the expiry of the lease term or uni - lateral termination, a letter or agreement of termina - tion of the aircraft (duly executed) must be submitted along with the DerPoA and legal documents proving the authority of the signatories. The documents must be notarised and apostilled or, if they are intended to be used in Greece, must have the signatures of the signatories authenticated. 2.8.2 Lessee’s/Operator’s Consent An aircraft owner, mortgagee or lessor may apply for the deregistration of the aircraft without the consent of the lessee or operator, especially where a DerPoA has been granted, and once the mortgage has been released. 2.8.3 Required Documentation To deregister the aircraft, the owner, mortgagee or lessor will have to submit – along with an applica - tion ‒ the customs documents, relevant payment of nominal duties, a copy of the DerPoA and termination documentation (unilateral termination or agreement properly executed, and legal documents proving the authority of the signatories (PoAs, etc)).
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