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How does property title deed (tapu) transfer process work if monetary payment of property takes days to complete?

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Hi there, so basically if a buyer pays for the price of the property through Wise, directly to the seller's bank account, it may take days to complete. 

Yet tapu transfer process requires both the buyer and the seller to be present at the tapu office to compete the transfer process. 

If the payment could take days to complete, or arrive at the seller's account, how would the buyer be assured that the seller won't run away with money? 

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That is a very good question which is why a legal representative here in Turkey is extremely important to act on your behalf.  

A legal representative in Turkey would help you to secure your position by taking the fund into its trust account and would not release it until all procedures have been completed.  

We urge our clients not to do full payment directly to seller's account until official papers are ready by the property title deed (tapu) office. 

Besides, it is also very important to have a proper legal audit over the unit if there is any charge/encumbrance or other negative records which reduce the value of the target property. Indeed, you might be interested in buying a property (by doing online check over the listings, pictures etc), but it may turn out that that property has charges (mortgage, bank loan, 3rd person claims etc) on the official records which the debt is sometimes equal to the purchase price. As a result of the title transfer, you become the debtor against 3rd parties as the new property owner and this happens to be devastating. 

H. Ender KELEŞ | Founding Partner
Avukat / Attorney at Law, LL.M.
T : +90 532 179 1513  |  F : +90 232 486 10 17
E : [email protected]  |  www.eglegal.net
Manas Bulvarı No:74, Trend Office, K:1 D:3 Bayraklı/Izmir- Turkey

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  • Ken Grubb changed the title to How does property title deed (tapu) transfer process work if monetary payment of property takes days to complete?

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