NOTARY PUBLICS ARE GRANTED WITH NEW AUTHORITY TO EXECUTE IMMOVABLE SALES TRANSACTIONS
The Law on the Amendment of the Law on Judges and Prosecutors and Some Other Laws numbered 7413 (in Turkish: “7413 Sayılı Hâkimler Ve Savcılar Kanunu İle Bazı Kanunlarda Değişiklik Yapılmasına Dair Kanun, the “Law”) was published in the Official Gazette numbered 31880 and dated 28 June 2022. The Law brings notable amendments to the Law numbered 1512 on Notary Public (in Turkish: “1512 Sayılı Noterler Kanunu”, the “Law No. 1512”) and empowers the notaries to realize immovable sale transactions.
Just as a background note, the authority to realize the sale of immovable was previously and exclusively granted to the land title registry offices. However, a provision has been added to the Law No. 1512 and this brings an authority to notary publics to realize the sale of immovable sale contracts.
Pursuant to Law, immovable sale contracts can be executed before the notary publics. The Law will enter into forceon 1 January 2023. Accordingly, the amendments brought by the other significant provisions of this new authority are summarized as follows;
- Notary publics may execute an immovable sales contract;
- Notary publics will issue an application document and upon receiving an application for the sale of an immovable, notaries will be analyzing all of the constraints on the immovable as well as observing the principles, methods, and restrictions in other laws regarding the sale of immovable;
- General Directorate of Land Title Registry and Cadastre will share the land title registry records and other relevant documents with the notary publics through the land title registry informatics system. The informatic system will be put in place until 1 January 2023. The President of the Republic has the discretion to extend this period for a term of six-month.
- Notaries will conclude the immovable sales contract only after determining the owner and that there is no legal obstacle with respect to the sales of the real property. Therefore, in case the holder of the right cannot be identified from the land title registry records and other documents, or if there is a legal situation preventing the sale, no sales transactions will be carried out by the notary public;
- Immovable sales contracts are exempt from stamp tax and valuable paper fees. However, land title registry duties applicable for immovable sales will be collected by the notary publics;
- Notary public fee that will be charged for these sales contracts will not be less than TRY 500 (approximately Eur 28) and more than TRY 4,000 (approximately Eur 225), based on the value of the concerning immovable. Such fees shall be increased every year as per the applicable provisions of the Tax Procedural Law;
- Notary publics are responsible for the damages caused by the arrangement of the immovable sales contract. In case this damage is paid by the State, the State will recourse to the notary public who realized the sales contract. Lawsuits to be filed against the notary publics will have jurisdiction in the court of the place where the land title registry is located.
In accordance with this new authority, secondary implementation regulation outlining the procedures and principles applicable to this new authority will be issued by the Ministry of Justice.
Our Law Firm remains at your disposal for any further clarifications you may need.