INTRODUCTION
In order to validity of contract, the immovable sales contract must be regulated formally. Before The Law on the Amendment of the Law on Judges and Prosecutors and Some Other Legislation numbered 7413 (“The Law”), published in the Official Gazette No. 31880 and dated 28 June 2022 entered into force, only the Land Registry Office could make the immovable sales contract. With the Law no. 7413, the Notary Law numbered 1512 was amended and the Notaries were authorized to sale of real estate, too.
The effective date of the regulation has been deferred to July 1, 2023 in accordance with the Decree No. 6616, published in the Official Gazette No. 32057 and dated 28.12.2022.
- AMENDMENTS
I.1. With the Law, the authority to regulate the immovable sales contracts has been added to the works to be done by the Notaries. According to the amendment of law, Article 61/A is added to come after article 61 of the Notary Law numbered 1512 and the procedures and principles of the immovable sales contracts are regulated.
I.2. The Notaries who are personally authorized in the contracts, will only be able to make the immovable sales contracts, If the right owner can be determined clearly and there is no legal condition obstructing the sale of real estate. Above the application of the parties of contract, the Notary will arrange an application document.
I.3. According to the article 12 of the Law, all informations about the real estate will be imparted by the General Directorate of Land Registers through the land registry information system. During these transactions, the Notary is obliged to pay regard to all kinds of restrictions on the real estate and to observe the limitations and the procedures and principles contained in other laws related to the immovable sales contract.
With the signing of the immovable sales contract, the Notary will record the contract in this system and the property will be transferred by the Directorate of Land Registry, ex officio. Moreover, the Notaries are obliged to physically archive the documents.
I.4. The immovable sales contracts made by the Notaries are privileged from stamp duty and valuable paper costs. It is regulated by the Law, that the parties of contract will only be charged title deed fees in accordance with the Act of Fees numbered 492 and the notary fees in accordance with notary services. The Notary fees must be shown in the fee schedule according to the value of the real estate as not less than five hundred TL and not more than four thousand TL. No further fees will be taken by the Notaries.
I.5. In Turkish Law, the Government is liable for malfunctions at Land Register Procedure, principally and absolutely. According to the article 13 of the Law, the Notaries who made the contract, will also be liable for the compensation of the immovable sales contract. According to this regulation, the Government who has demanded the compensation has the right to recourse against the Notary who regulated the contract.
CONCLUSION
While the authority to regulate the immovable sales contracts is monopolized by the Land Registry Office; by the Law numbered 7413, published in the Official Gazette No. 31880 and dated 28 June 2022, this authority is also given to the Notaries.
According to the Law amending the Notary Law numbered 1512, with the receipt of the necessary fee and the costs of notary services, the immovable sales contract will be regulated through the land registry information system and the transfer of property will be registered in the land registry without need for anything.
The regulation will enter into force on July 1, 2023.
RESOURCES:
1- The Law on the Amendment of the Law on Judges and Prosecutors and Some Other Legislation numbered 7413
2- The Notary Law numbered 1512
3- The Decree numbered 6616, published published in the Official Gazette No. 32057 and dated 28.12.2022
You can access the full text of the The Law on the Amendment of the Law on Judges and Prosecutors and Some Other Legislation numbered 7413 from the link below.
https://www.resmigazete.gov.tr/eskiler/2022/06/20220628.pdf
– This document is to inform the recipients concerning recent legal developments in Turkey. It does not constitute legal advice or legal opinion on any specific facts or circumstances. The advice of legal counsel should be obtained for specific questions.
– © 2023 Ülken Law Firm
