UncategorizedNotaries Start Having Client Accounts in Turkey – New Regulation

February 7, 2020by Ezgi Aydemir

The Safe Payment System during the Notary proceedings, one of the newest regulations of the Ministry of Justice. Commencing on 04/02/2020 throughout the country, credit and debit cards can be used for Notary proceedings payments.

The Turkish Minister of Justice stated that the new regulation is for the benefit of the citizens as the risks of losing money during the cash proceedings will be avoided.

Since the sales price cannot be transferred to the seller’s account without a transaction at the notary, the purchase and sale will be done in a more secure way. Within the scope of this regulation, the buyer and seller will be informed by a message or an e-mail at every stage of the transaction.

In case the parties cannot come to an agreement and so the transaction is cancelled, the risk of the fraudulent behaviours will be avoided; given the money deposited by the buyer will be returned to the bank account that is noted during registration. Therefore, sales transactions will be carried out without any cheque disbursements or any other and similar costs.

London Legal International is a Turkish law firm located in London, please contact us for any of your Turkey related legal matters.  Our email is info@londonlegalint.co.uk

Ezgi Aydemir

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