Sunday 1 April 2012

Charges on Property in Turkey




If you owe money in Turkey you can be taken to court and a charge put on your possessions.  The bailiffs can enter your property and take anything they think will pay off the debt.  A charge can be put on your property and will stay there until you sell the property at which time the debt will be repaid along with extremely high rates of interest.  The creditor can force the sale of your property through an auction.

If you are buying an off plan property the developer can borrow money to develope the site by borrowing money against your property, the lender has a charge on your property. 

The developer may get into financial difficulty and a creditor could put a charge on your property.

It is vitally important to check that anything you buy in Turkey is clean of all charges prior to purchasing as when you buy a property in Turkey you also buy the charges on that property.

Any charges against a property will be registered at the Tapu office and you must ask your lawyer to check.

It is safest to register a charge against your property for any money you pay towards the purchase of the property prior to receiving the Tapu (Deeds).

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