Legislation numbered 7413 on the Amendments to the Regulation on Judges and Public Prosecutors and Specified Rules (“Amendment Regulation”) was released in Official Gazette dated 28 June 2022 and numbered 31880.
Herewith, considerable amendments letting real estate profits agreements to be executed just before notary publics have been launched to Notary Community Law numbered 1512 (“Law”).
Amazing amendments in the Amendment Regulation are summarized beneath:
- Pursuant to variations on the Write-up 60/1-3 of the Legislation, execution of serious estate product sales agreements has been added to the duties of the notary publics, in addition to the execution of preliminary agreements for the sale of authentic estates. In this context, the serious estate income agreements can be executed prior to the notary publics as very well as the land registry places of work.
- Pursuant to Report 61/A additional to the Regulation, the normal processes and rules to be utilized by the notary publics for the serious estate sales contracts are controlled as follows:
- On the application concerning the sale of the serious estate, the notary general public will issue an application document. The land registry sample and other applicable documents will be shared with the notaries through electronic indicates by the Standard Directorate of Land Registry and Cadaster.
- The notary will analyze regardless of whether the submitted documents are finish, who is the appropriate holder, no matter whether there is any restriction on the real estate and no matter whether there is a lawful circumstance stopping the sale in the scope of limitations in the legislation. If it is comprehended from the land registry and other paperwork that there is a condition blocking the sale, the sale will not be carried out by the notary. If the notary establishes no troubles, then the genuine estate income contract will be built.
- Following the summary of the income deal by the get-togethers, the notary will submit the agreement and related paperwork under the land registry details program and will archive them physically. After the agreement is recorded below the land registry information method, it will be registered to the land registry of the serious estate by the directorate of land registry.
- In accordance with the amendment made to Write-up 162 of the Law, notary publics are also held accountable for the damages arising from the summary of the authentic estate revenue agreement.
- Only the title deed price will be charged from genuine estate profits contracts to be built by notaries, and also these contracts will be exempted from stamp duty and beneficial paper fee. The notary rate will be between 500 to 4,000 Turkish Liras according to the worth of the real estate. These amounts will be enhanced at the revaluation charge just about every calendar year.
Information on the follow will be regulated by a communique to be issued by the Ministry of Justice. The amendments will arrive into outcome as of 1 January 2023.
Make sure you come across the total text of the Amendment Legislation in this article (only out there in Turkish)
Facts initial revealed in the MA | Gazette, a fortnightly lawful update e-newsletter created by Moroğlu Arseven.