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With the latest regulation on April 2022, the agenda of the Parliament, transfer transactions made in land registry offices in housing purchases and sales will now also be able to be made at notaries. Turkey iResidence highlights what is curious about the effect of transactions to be made at a notary on real estate in Turkey for the purchases and sales.
According to the new regulation planned to be made, a title deed transfer operations will be able to be carried out at notaries. Turkey iResidence gave important information about the planned change. “When referring to the differences between a notary and land registry offices, it is first of all useful to define a notary and his functions. Notaries certify transactions between the parties in order to avoid disputes. Turkish notaries can issue a document and confirm signatures on a document. Both ways give the document the title of official document. The document can be used when the articles or signatures on documents held in notaries are denied and the falsification of the article or signature in the document is not fixed by a court decision,” was said.
Turkey iResidence, who said that the main function of land registry offices is to keep land registry records, said: “Land registry offices ensure the public disclosure of rights to real estate. The point is that anyone who proves their interest publicly can see the land registry. Therefore, no one will be able to claim that they do not know a record in the land registry,” is said. However, there are some documents that the land registry office can also officially issue, Turkey iResidence said, noting that the duties, functions of notaries and land registry offices differ in these aspects, but their areas of duty are similar in terms of the ability to formalize legal transactions.
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ARE NOTARIES SAFER IN BUYING AND SELLING TURKEY REAL ESTATE?
So can we say that ‘notaries are a safer option for buying and selling real estate’ according to the planned arrangement? “The validity of real estate purchase and sale agreements depends on the fact that they are regulated in an official way,” said Turkey iResidence. Such contracts in accordance with existing regulations of the authority who is in the land registry office that will deliver formalized in the land, “land law according to the regulations on real estate purchase and sale agreement and to be desired on the right deeds and Land Registry editing official documents, the director of the land registry or organised by the staff there.”
Turkish real estate sales contracts that officers should be held by the land registry, how much has general authority to make the contract official notary into a contract for the sale of real estate, even though the formality of the office, only underlines that can save Turkey iResidence, “for this reason, a notary public to be held in an invalid contract real estate purchase contract will be in accordance with current regulations. It is also necessary to mention the following possibility: a party that claims in bad faith the irregularity of a contract concluded in a notarial manner in accordance with the decisions of the Supreme Court may be forced to comply with the contract if other conditions are met,” said.
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TURKEY REAL ESTATE BUYING AND SELLING PROCESSES WILL ACCELERATE
It is believed that if notaries are authorized to issue real estate sales contracts, the intensity of bureaucratic procedures will decrease. Will the involvement of notaries in real estate purchases and sales reduce the problem of getting stuck in the bureaucracy in transfer transactions? “Essentially, this process resembles the process of buying and selling motor vehicles, before the current situation, it was necessary to go to the traffic registration office and apply for a license after processing at a notary for the sale of a car, at the moment only with transactions to be made at notaries, the sale can be carried out.
Referring to the operation of land registry transactions in the sale of real estate, Turkey iResidence said, “Land registry offices provide identity cards, payment statements, etc. in Turkish real estate sales. he will request some documents. The same documents will also be requested by notaries if notaries are authorized. After the relevant documents are prepared, the parties go to the land registry office and carry out their transactions,” said. Turkey iResidence said that the part from the appointment to the completion of the transactions takes an average day in theory, it can be said that this period is actually short, but for reasons such as the number of land registry offices, heavy workloads, the time has been extended and transactions may slow down.
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BOTH INSTITUTIONS ARE AUTHORIZED!
Turkey iResidence, “Notaries are also busy institutions, but they are more numerous than land registry offices. It may be that this adds speed to the system,” was said. As a result, a system in which the process is faster can be established by authorizing notaries, but in doing so, measures should be taken to ensure security, iResidence stressed, “It is important in this context that the land registry is publicly accessible and accessible to everyone. In other words, the notary who performs the transaction should have the same access to information as a land registry officer to ensure the security of the transaction,” it said.
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Turkey iResidence said that as long as these issues are paid attention, there will be no big difference between the transaction being made at the Turkish land registry office or a Turkish notary public, and stressed that these two institutions are the organizations authorized to formalize the real estate sales agreement.
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