AFTER THE PURCHASE IN PUBLIC AUCTION OF THE LEASED REAL ESTATE PROPERTY IS THE LEASE EXTINGUISHED?

AFTER THE PURCHASE IN PUBLIC AUCTION OF THE LEASED REAL ESTATE PROPERTY IS THE LEASE EXTINGUISHED?

The answer is NO in the following cases:

1) That the lease had effect by contract prior to June 6, 2013. This date is that of the entry into force of the wording given by L 4/2013 to LAU art.13 which states that the lease is extinguished and ceases to have effect with respect to the third acquirer if it is not registered in the Property Register.

2) That regardless of the date of the contract, such lease was registered in the Property Registry prior to the date on which the new owner by auction has acquired ownership of the property.

The answer is YES in the event that being the date of grant of the lease after June 6, 2013, the lease has not been registered in the Property Registry prior to the date on which the new owner by auction has acquired ownership of the property.

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