Revolutionary Step in Title Transactions: Secure Payment System

The Secure Payment System, which will perform title transfer and money transfer simultaneously, is scheduled to be implemented on October 1 after the completion of technical preparations. This new system aims to reduce risks such as carrying cash, counterfeit money, insufficient payment, and security concerns.The countdown has begun for the Secure Payment System, which aims to increase security in real estate buying and selling. The application, initially planned to start on July 1, was postponed to October 1 to complete the technical preparations.With the new system, the title transfer and payment process will be secured simultaneously.Real Estate Expert Mustafa Hakan Özelmacıklı stated that the main purpose of the new system is to make the money transfer and title transfer simultaneous.Özelmacıklı noted that in the current application, a trust issue may arise between the buyer and the seller, with the seller wanting to receive the money first and the buyer being hesitant to make the payment before the title transfer.In the new application, the amount paid by the buyer will be held in the secure payment infrastructure, and the money will be transferred to the seller's account after the title registration is completed.The new system aims to reduce many risks encountered in high-value property and land sales.The system will work similarly to the Title Transfer System, which has been in use since 2017, but it is aimed to be used more widely this time.Experts believe that although the system will provide significant security, the problem of underreporting the actual sale price in the title will not be completely eliminated.Özelmacıklı stated that if there is a difference between the actual sale price and the declared price, only the declared amount will be transferred through the secure payment system, and the remaining amount can continue to be paid through different methods.Therefore, he emphasized that for the complete elimination of Informal economy, the actual sales values should be reflected in the system.Özelmacıklı noted that for the real market values of properties in Turkey to be determined more healthily, the actual sales figures should be processed correctly in the system.He stated that with the regulations to be made in the base values in 2026, it is expected that the difference between the market value and the municipal base values will decrease in some regions, and sector representatives are demanding new regulations regarding title fees and actual sales prices.In the new period, it is planned that licensed real estate companies will play a more active role in the system.Özelmacıklı stated that integrating real estate service fees into the system will contribute to both the secure execution of transactions and the recording of the sector.