Title-Deed Trusted Account

During the transfer of the purchase price at the Land Registry, the inability to simultaneously transfer the real estate and the cash representing the sale price creates trust issues among the parties and poses a risk associated with carrying cash. The Land Registry Escrow Account is a guarantee and convenience offered by Emlak Katılım to both buyers and sellers to ensure that real estate purchase and sale transactions are conducted securely.

Thanks to the protocol between the General Directorate of Land Registry and Cadastre and Emlak Katılım, the Land Registry Trust Account system operates through an integrated system across all land registry offices.

Through accounts opened in the name of the buyer and seller with Emlak Katılım, and based on the data flow received from the General Directorate of Land Registry and Cadastre via the system, the parties will be able to make their land registry fees and other payments, and the transfer of title and the property purchase price can be completed simultaneously.

• The buyer and seller apply to Emlak Katılım to request the opening of an account. (Both the buyer and seller must open an account.)
• Using the Seller’s Turkish ID number (TCKN), the property information registered under the Seller’s name is queried via the Escrow Account Screen. The property to be transferred is selected.
• The land registry fee and revolving fund service fee due prior to the transfer may be paid by Emlak Katılım at the request of our customers.
• The sale price is blocked in the account held by the seller for the land registry fee and revolving fund service fee, and the Arbitration Account reference number generated is transmitted by Emlak Katılım to the Land Registry Office via the system.
• The buyer and seller apply to the Land Registry Office for the transfer of the property title.
• The Land Registry Office verifies through the system that the Land Registry Fee and the Land Registry and Cadastre Revolving Fund Service Fee have been collected and that the amount has been blocked, and then completes the title transfer. When ownership changes hands at the Land Registry Office (upon completion of the registration process), data is transmitted to Emlak Katılım via the system.
• Based on the data received from the Land Registry Office, Emlak Katılım transfers the amount to the seller’s account. If the title transfer does not take place, it refunds the amount to the buyer’s account (releases the hold). Once the transfer is completed, both the buyer and seller are notified via text message (SMS).