New Era for Inherited Property Sales: Changes in Rules

The 12th Judiciary Package, a bill, was accepted by the Turkish Grand National Assembly's Justice Commission. With this regulation, the sales procedure for inherited properties has changed. Now, in cases where the joint ownership of a property is to be terminated through sale and the property is owned solely by the heirs, the first open auction will be held only among the heirs. In the current system, when there was a dispute among heirs regarding inherited properties such as houses, land, or fields, and a lawsuit was filed, the court would put the property up for sale in a public auction. This situation could lead to third parties buying the properties for up to 50% of their value, resulting in family heirlooms being sold below their worth.According to the new regulation, in cases where all owners have acquired the properties through inheritance and there are no third-party ownership rights, the first open auction will be held only among the heirs if the joint ownership is to be terminated through sale. This application will be implemented only once.The bill also introduced new regulations for announcements to be made through the electronic sales portal. According to this, a creditor who requests a sale and wants to participate in the auction must apply to the execution office conducting the sale by the end of the working day before the auction period ends, and the creditor will not be required to provide a guarantee up to the amount of their debt.