To prevent fraud in property transactions, foreign buyers in Turkey should use secure payment methods. The Land Registry Office offers the "Tapu Takas" (Title Deed Swap) escrow service.
1. How Tapu Takas Works
The buyer deposits the purchase amount into a secure bank account managed by Takasbank. The money is locked. Once the Title Deed registry transfer is signed and completed at the Land Registry Office, the funds are automatically released to the seller's account.
2. Blocked Checks and Lawyer Escrow Accounts
Other alternatives include using blocked bank checks or lawyer-managed escrow accounts, which guarantee that the purchase price is only paid when the clean title deed is successfully transferred.
Frequently Asked Questions (FAQ)
What is Tapu Takas in Turkish Property Sales?
- Escrow: A secure title deed swap service managed by Takasbank.
- Procedure: Funds are locked until the deed is transferred, then released instantly.
- Safety: Eliminates cash carry risks and fraud.