7/16/2008

The new Land Registry Law enacted

A.A - The real estate sales to the foreigners in Turkey came to a halt on the 16th of April,2008 where the cancellation decision of the Turkish Constitutional Court regarding the matter was enacted as there was a loophole in the bill. The sales will be enabled again as the new law has been published yesterday. The bill regarding the change in the Land Registry Law prepared in the content of the cancellation decision of the court has been published in the Official Gazette today and came into effect. The authorities of the General Directorate of Land Registry and Cadastre stated that a circular letter regarding the practice of the law will be issued within a few days. The sales will be enabled after the circular letter is issued. The General Directorate of Land Registry and Cadastre will also prepare the regulations regarding the issue within 3 months.