Last Updated on 07/07/2023
Each year, 3 million real estate transactions in Turkey take place in land registry offices. Consequently, issues in appointment availability occured due to the increasing density of land registry offices. To solve this problem, the official gazette issued a new regulation that allows notaries to execute all the procedures. With the new regulation coming into effect, starting from the 4th of July 2023, notaries will be able to issue real estate sales procedures and title deed conveyance. Whereas, up until now they could issue only real estate sales contracts.
A new regulation to ease real estate transactions in Turkey
Emine Çağlayan, President of the Notaries Union of Turkey, announced that notaries can execute real estate transactions in Turkey as of July 4th. Moreover, she also stated that thanks to this new regulation, real estate purchases will be possible on weekends as well.
Moreover, she affirmed that this amendment will eliminate the density in the land registry offices. Besides, it will allow people to perform their real estate transactions in Turkey faster and in a shorter time, and reduce bureaucracy. It will involve all types of real estate including residential and commercial properties, offices, and lands. Yet, you should note that this regulation will be valid currently only for Turkish Citizens. Meanwhile, it is expected to involve foreign buyers and sellers as well in the near future.
However, eventhough this regulation is still not applicable for foreigners, they still get advantages of this new situation. In fact, by reducing the density in the land registry offices, foreigners will be able to get appointments for their transactions more easily.
How will notaries execute title deed conveyance?
Where to apply?
Taking an appointment is necessary. Those who want to make real estate transactions in Turkey through a notary should apply online using the e-governmental portal e-devlet from the ‘e-appointment/application‘ of the Notaries Union of Turkey. During the application, they should select the property.
They should also add information such as details of the parties, the property tax value estate, and the set sale price. Moreover, they should upload the relevant documents to the Information System of the Notaries Union of Turkey (TNBBS). Yet, they must submit the originals of these documents at the appointment date and time. In addition, they have to select the notary public office at the application stage.
How to proceed?
After submitting, the notary will issue the application document. Then he will forward it to the General Directorate of Land Registry and Cadastre via the Sharing System (TAKPAS).
In case of missing documents, the land registry office where the property is registered will request the deficiencies . Then the notary will prepare a contract after checking all the documents. He will also make sure that there isn’t any legal situation that prevents the real estate transaction such as debt or mortgage.
The General Directorate will generate the online serial number for the payment of the service and the title deed fee of the transaction and send it to the notary via TAKPAS. He will notify the parties with a text message of the e-payment serial number and payment method, as well as the date and time of the appointment for signing the contract. If the buyer and seller won’t be present at the notary’s office on the set date and time of the appointment they should apply to the notary within 10 days otherwise the application will be canceled.
After determining that there is no legal situation that restricts or prevents the real estate transaction, the notary will have the parties sign the contract, obtain a journal number from the Land Registry and Cadastre Information System (TAKBİS), and save the contract on the system. After that, the real estate will be registered in the land registry by the land registry directorate. And the notary will deliver the title deed to the parties after signing the contract.
What is the notary fee for real estate transactions in Turkey?
While the buyer and seller pay 4 percent of the sales price to the land registry office, the notary will charge an additional fee. Notary charges cannot be less than 500 liras and more than 4 thousand TL depending on the property value. In addition, these fees will increase each year.
For more information about real estate transactions in Turkey, don’t hesitate to request a free consultation with our experts by fulfilling the form below.
