The Power of Attorney is an official document that grants general or specific powers to a registered legal practitioner when buying a property in Turkey. It authorizes them to carry out procedures on your behalf such as making payments, signing documents, and obtaining the title deed.
Foreign property buyers usually grant power of attorney to a recognized lawyer or real estate consultant in Turkey to handle the entire purchasing process for them. Although it is not a requirement, however, there are benefits such as saving additional costs, hassle-free processing, and ease of transactions, when you are unable to travel frequently for administering formal procedures.
The process to appoint and authorize someone to act as your attorney on your behalf is simple and takes as little as two hours. As defined by the Turkish laws and real estate regulations, a set contract is used post-translation and is represented at the public notary office.
- Turkish tax reference number
- A valid passport
- A translated copy of the passport through a certified interpreter
- Turkish ID of the person to be authorized
What is the purpose of issuing the power of attorney?
The power of attorney can be advantageous for foreign real estate buyers looking to:
- Buy property in Turkey
- Manage real estate assets
- Handle bank transactions on your behalf
- Use of funds and attachments on your behalf
- Filing claims and litigation
- Implementing tax operations
- Execution of documents
Types of Power of Attorney in Turkey
Although there are various forms of granting Power of Attorney, there are two crucial types that are related to buying properties in Turkey:
Specific Power of Attorney: This gives a particular and customized right to the consultant or solicitor to represent you in pre-determined transactions. Specific Power of Attorney is the most used and normal route that foreign nationals take while purchasing a house in Turkey.
General Power of Attorney: This furnishes a general authorisation to the solicitor or real estate consultant to represent you legally in all subjects and matters. In a few cases, your signature might be needed for further approval.
What to consider when giving the Power of Attorney in Turkey?
Choose wisely as to who you are authorizing and giving power to. While friends and relatives may be ready and willing to assist, we suggest that you contact a registered lawyer or a real estate consultant in Turkey that are bound to proceed in your best interests.
While giving the Power of Attorney, read and analyze what entitlements are being offered to the solicitor.
Grant only the necessary powers and not more. For instance, when buying Turkish real estate, the POA just needs the affirmation for signing title deeds and arrange for electric and water connections.
If you do not have plans to sell your house, there is no need to inculcate the sellers’ rights in the consent. Likewise, a general POA gives someone the authority on your behalf to gain access to credits.
Giving someone permission to make headway on your behalf does not entitle them to compromise on the ownership. The property, as well as the title deed, will still be in your name.
When having the ID and purchase documents translated, make sure that it is done via a certified translator recognized by the Turkish notary office.
How to cancel Power of Attorney?
The Power of Attorney for purchasing real estate in Turkey can be canceled anytime you wish. To seize authority, you must present a copy of the POA or furnish its issued date.
All you need to do is to contact a Turkish consulate or notary office and send a notice with a written confirmation that the power of attorney has been revoked. Ensure that all the copies of original documents are returned to you and inform the bank that the documents are annulled and are no longer valid.
If you intend to purchase real estate in Turkey but are unable to visit at the desired time, you can issue the Power of Attorney to legal experts or registered real estate consultants to get the property in your name and on your behalf.
In case you do not have the time to stay in Turkey during the execution of documents, you can give the Power of Attorney to authorized experts at Extra Property. They will rightfully represent your interests in the administrative and state bodies and carry out the necessary documentation procedures in your absence. For more details, connect with our team of legal advisors and real estate experts here.