Process for notifying the Ministry of the Interior of excess properties

The system for notifying the Ministry of the Interior of excess properties acquired before the new legislation of 21st May 2024 is now up and running.

Under the new legislation which came into force on 21st May 2024, anyone who, prior to the new legislation coming into force, had purchased more property than they are entitled to purchase under the new legislation on the basis of a Contract of Sale and who is not, therefore, able to comply with the requirement to register the Contract of Sale at the Land Registry and/or submit an application for permission to purchase in respect of the property within the periods stipulated in the new law, must notify the Ministry of the Interior of this situation within six months of the new legislation coming into force and pay a fee of 1% of the Contract price.

If the Ministry is not notified within this period, the fee payable on notification after this date will be 3% of the Contract price.

Such purchasers will then have twenty-four months from the expiry of the six-month notification period to transfer these Contracts of Sale out of their names.

Notifications can be made in person directly via the Ministry website https://tmb.icisleri.gov.ct.tr:8080/ or through your acting lawyer.