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Supreme Court ruling limits profiteering

17 May 10 - RE+D Magazine
Supreme Court ruling limits profiteering

COMPANIES

ARXIKON S.A.

Developer - GREECE

GAIAOSE S.A.

Agency - GREECE

PEOPLE

The Supreme Court recently ruled that a property sale for a price that can be deemed profiteering is considered invalid. Contracts for the sale of a property for a price below its objective value will not be considered legal in case the buyer is exploiting the financial problems of the seller. Thus, the seller is protected by profiteers exploiting peoples' financial hardships to buy property for much less than they are worth.

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