New Era for Inherited Properties: Priority for Heirs

With the new regulation by the Ministry of Trade, the sales process of inherited properties such as houses, lands, and fields is changing. Heirs will now have priority in the first auction, provided certain conditions are met, and will be able to participate in the sales process.This regulation aims to prevent inherited properties from being sold to third parties. In the first auction, only heirs will be able to participate, and bids must cover the full value of the property.The sales price in the first auction will be equal to the determined value of the property. Additionally, the costs of sale and distribution must also be covered by the bid.Determining the value of the property will be a crucial step in the sales process. An expert assessment will determine the value of the property, which will be critical in the first auction among heirs.The fact that the first auction is only among heirs does not necessarily mean the property will remain within the family. If no heir wants to buy the property or if the bids do not meet the necessary conditions, the process will move to a second auction.The minimum price in the second auction will be calculated differently than in the first auction. The higher of 50% of the determined value or the total amount of priority debts on the property will be considered, and sales and distribution costs will also be added.