Türkiye announces procedures and principles on execution of real estate sales transactions by public notaries

New development

The Law on the Amendment of the Law on Judges and Prosecutors and Certain Laws (“ Law “) published in the Official Gazette dated 28 June 2022 and numbered 31880 made significant amendments to Notary Public Law No. 1512 and enabled public notaries to execute real estate sales contracts. You may access our legal alert dated 29 June 2022 on this development here .

This regulation authorizing public notaries to execute real estate sales contracts, which has been on the agenda for a long time, was expected to enter into force on 1 January 2023. However, the Presidential Decision (“ Decision “) on the Extension of the Period of Provisional Article 21 of the Notary Public Law until 1 July 2023 was published and the Decision postponed the deadline for the completion of the installation of the system required for the sale of real estate by public notaries until 1 July 2023.

In line with these developments, it was expected that the Ministry of Justice would regulate the relevant procedures and principles. In this context, the Regulation on the Procedures and Principles Applicable to Real Estate Sales Contracts Issued by Public Notaries (“ Regulation “) was published in the Official Gazette dated 11 January 2023 and numbered 32070 and entered into force on the same date. The provisions of the Regulation will be applied as of the date the establishment of the information system is announced on the official website of the Ministry of Justice.

What does the Regulation introduce?

The main provisions envisaged in the Regulation are as follows:

Conclusion

The amendments to the Notary Public Law and the Regulation aim to finalize the sale of real estate property transactions in a faster and easier manner, and the Regulation sets out the procedures and principles applicable to the real estate property sale contracts to be executed by public notaries. Those who wish to carry out real estate sale transactions before public notaries should follow the announcements regarding the installation of the relevant information system on the official website of the Ministry of Justice.