Title deeds suspended in Turkey

A fortnight ago, the Turkish Constitutional Court has temporarily suspended the issuing of title deeds to buying foreign propertys. Although this sounds like a bad piece of news for foreign property investors, it isn’t as bad as it looks.

The Constitutional Court of Turkey has ruled that a specific section of Article 35 of the Title Deed Act (Tapu) – which relates to property acquisition by non-Turkish national and overseas companies – is contrary to Turkish constitution. The question here is not over whether non-Turkish nationals should be permitted to buy land and property in Turkey, but rather whether Parliament or the Government should be relaxing the rules regarding the amount of land that overseas property investors can buy.

The reason for this whole issue is the concern that huge swathes of Turkish agricultural land, particularly on the eastern side, are being bought up by overseas companies. At present, foreign nationals are restricted from buying land and property in rural areas and the proposed amendments to the Article will state that the same rules will now apply to foreign companies.

This means that if you, as an individual, are already in the process of buying a property in Turkey in an officially zoned area of the country, you should have little problems, although you may see a slight delay in the completion of your deal. The new law is expected to be passed on 16th July 2008 therefore the wait for completion should not be too long. Should you, as either an individual or as part of a company, already own property and/or land in Turkey, you rights will not be affected.

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  1. From Turkish government bill lifts temporary title deed restriction - Buying Foreign Property | Jun 13, 2008

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