12.05.2025 09:41
The transformation process of shared titles is ongoing. During this process, an important warning was issued to the owners of shared titles. It was emphasized that the 90-day deadline should not be exceeded. Otherwise, it was stated that the owners of shared titles could be adversely affected. Additionally,
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The General Directorate of Land Registry and Cadastre has reminded about the pre-emption right that comes into play in real estate sales. In cases of sale, shareholders need to take action within 90 days to avoid losing their rights. Those who are shareholders by inheritance or purchase have the right of first refusal if other shareholders sell their shares in the property. This right is defined under the Turkish Civil Code as "pre-emption right" or, alternatively, "shufa right." However, there are specific time limits for exercising this right.
THERE IS A 90-DAY CONDITION FOR PRE-EMPTION
The General Directorate of Land Registry and Cadastre has reminded about the pre-emption right that comes into play in real estate sales. In cases of sale, shareholders need to take action within 90 days to avoid losing their rights. Those who are shareholders by inheritance or purchase have the right of first refusal if other shareholders sell their shares in the property. This right is defined under the Turkish Civil Code as "pre-emption right" or, alternatively, "shufa right." However, there are specific time limits for exercising this right. If a sale transaction has occurred among shareholders and this situation has been notified to other stakeholders via notary, the time allowed for filing a pre-emption lawsuit against the buyer is only 90 days. If legal action is not initiated within this period, the aforementioned right of first refusal is completely eliminated.
SALES WITHOUT A WAIVER ARE AT RISK
A waiver of the pre-emption right obtained from other shareholders during the sale prevents potential legal disputes. In cases where a waiver is not obtained, other shareholders can apply to the court after the sale to file a lawsuit for the annulment of the transaction. These lawsuits must be filed within a maximum of two years from the date of sale.
The General Directorate of Land Registry and Cadastre recommends careful monitoring of the process in sales transactions. In a warning to citizens, it is emphasized that if a lawsuit is not filed within 90 days from the moment the sale is notified through a notary, the right of pre-emption will expire. Therefore, it is crucial for co-owners of property to closely follow developments.
To avoid suffering from sales transactions in co-owned properties, it should first be checked whether the sale has been reported. If the sale has been reported, legal action should be taken within 90 days, or it should be documented that rights have been waived in advance with a waiver. Otherwise, shareholders may face the risk of permanently losing their right of first refusal on the property.
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