Conveyance describes the procedures used to transfer property ownership and possession from one party to another. The conveyance procedures in Turkey are simple and effective when the parties attend at the Land Registry together. For this reason solicitors are not typically used. When a party can not attend at the land registry it is not unusual to appoint an agent to perform the activities under a power of attorney, but that agent need not be a solicitor, and indeed is rarely a solicitor but more often is a relative.

When the parties are foreign and do not know Turkish law, property permits and compliance, and procedures, they are best advised to obtain independent professional advice to look after their interests. Regrettably many unsuspecting foreign residential purchasers rely on the legal advice provided by solicitors referred by developers or sales agents or the sellers, and such advice is never independent and rarely serving the interests of the buyer.

The standard contracts used in such situations are usually woefully inadequate for the purposes of mortgage finance, and pose un-necessary risks for the buyers and the sellers. This rarely results in litigation but usually results in a breach of contract and an undesirable situation. Turkish Mortgage Centre, and approved legal solution partners, provide sound contracts for a number of purposes. The contracts protect the interests of buyers, are fully transparent, and provide developers and sellers with a sound legal framework to execute their business efficiently, while mitigating the risks that are un-necessarily prevalent in poorly drafted and structured contracts, which account for the vast majority of developer contracts we see. If in any doubt, the extensive network of legal advisers established over 25 years of investment and financing business in Istanbul and local coastal regions, can be called upon for specific client purposes. We work with the top corporate law firms in Turkey, and the most specialised local experts in coastal regions.

The importance of working with an experienced partner that does more than merely talk about mortgage terms, can not be emphasized enough. Mortgage assignment and registration in your home country may proceed smoothly because the practices and procedures used by legal advisors and other service providers are well established and recognised over decades but this is not the case in Turkey. The Turkish mortgage law is new, the document requirements, and procedures for conveying property ownership and assigning and registering a mortgage in practice, are not widely known by solicitors. Where the seller has permits and permissions to maintain, other mortgages to repay, clearance certificates to provide, the matter becomes somewhat more complicated. Even certain Turkish banks that offer cross-border mortgage products are incapable of executing the conveyance closing actions on completion. Overseas mortgage brokers have neither the knowledge of local finance procedures, Turkish law, or the cross border language and document preparation skills.

Indeed generally in Turkey, there is a shortage of experienced personnel in the mortgage sector with the knowledge and experience to manage to entire process. This is why it is so important to work with an experienced team of experts to ensure delivery of mortgage finance from start to finish. Our services are designed to deal with all these issues in a sound and secure manner. This level of experience is only available within the Turkish Mortgage Centre.