With the legal regulations made in inheritance law, the process of transferring inheritance shares between siblings has been accelerated. In the new period, it is aimed to complete the sharing in a shorter time by reducing the legal and bureaucratic procedures between the heirs. This change, which directly concerns shared title holders, aims to eliminate the waste of time in intra-family property transfers.
WRITTEN AGREEMENTS ARE NOW OFFICIALLY VALID
With the change, written contracts gained legal ground to prevent disputes between siblings regarding inheritance sharing.
Notary Approval Requirement Removed: The obligation for contracts to be notarized in transfer transactions between siblings has been abolished.
Written Agreement is Sufficient: For the transfer of an inherited house or real estate, a written text signed by the parties will be considered valid.
Procedures at the Land Registry Office will continue for those who want to acquire shared title deeds; The borders and parcels of the real estate will be clearly determined and a transparent process will be carried out.
HOW TO SELL SHARE DEED?
Existing rules are preserved in the sale or complete transfer of inherited real estate to third parties. In order for the share deed sale to take place, the following steps must be followed:
Joint Decision Requirement: It is mandatory for all shareholders to reach a common decision on the sale.
Presence at the Land Registry: In order for the transactions to be completed smoothly, all shareholders must be present during the title deed transfer or appoint a legal representative.
Transaction Through Power of Attorney: Shareholders can also complete their transactions remotely by giving power of attorney to a lawyer or representative who will manage the process together.
After the sale and transfer transactions are completed, the material rights of the shareholders will be presented to them. The new regulation aims to reduce the density in land registry offices by increasing efficiency, especially in property transfers between siblings.
This change was reminded again by industry representatives.
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