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December 21, 2023

The Regulation on the Procedures and Principles Applicable to Real Estate Sales Contracts Issued by Notaries Public

The Regulation on the Procedures and Principles Applicable to Real Estate Sales Contracts Issued by Notaries Public has been published. According to this;

  • Pursuant to the published Regulation, the procedures and principles applicable to immovable sale contracts issued by notaries have been determined.
  • Applications for the issuance of the contract will only be made through the “e-appointment/application” application of the Union (Union of Notaries of Turkey) using the e-Government Gateway. The underlying documents of the information (identity, notification address and contact information of the parties, the real estate tax value of the immovable property and the sale price determined between the parties, and the Turkish lira amount registered in the foreign currency purchase certificate in transactions where foreign real persons are the buyer party) shall be uploaded to the Turkish Notaries Union System (“TNBBS”) and the originals of these documents shall be submitted to the notary public on the appointment date and time.
  • When issuing the contract, the notary will use the contract sample prepared by the Association and registered in TNBBS (Turkish Notaries Association Information System) by considering the contract form and content in TAKBIS (Land Registry and Cadastre Information System).
  • After the completion of the records and documents related to the immovable, the notary will take into account all kinds of restrictions on the immovable and will take action by observing the limitations, procedures and principles in the legislation regarding the sale of immovable. Accordingly, after determining the right holder and determining that there is no legal obstacle to the sale of the immovable, the contract will be prepared.
  • Notaries will carry out the transactions related to the contract in person. In the event that the right owner cannot be determined from the title deed registration sample and other documents or in the presence of a legal situation preventing the sale, notaries will not be able to realize the sale transaction.
  • After the contract is signed, a title deed will be given to the parties by the notary following the completion of the registration.
  • Real estate sales contracts are exempt from stamp tax and the papers issued in relation to these transactions are exempt from valuable paper fees.
  • The notary fee to be calculated cannot be less than five hundred Turkish Liras and more than four thousand Turkish Liras according to the value of the immovable property

 

This Regulation entered into force on the date of its publication (11.01.2023). However, pursuant to the provisional article of the Regulation, it will not be applied until the date of the announcement of the establishment of the information system envisaged to be established on the official website of the Ministry of Justice.

 

Authors

Kılınç Hukuk ve Danışmanlık

Kılınç Hukuk ve Danışmanlık