Turkey implements new rules for inherited property sales

The Turkish Ministry of Trade has implemented two major regulatory reforms affecting the real estate sector. The first reform targets the sale of inherited properties, such as houses, land, and fields, to prevent them from being sold to third parties at undervalued prices during inheritance disputes.

Under the amended Execution and Bankruptcy Law, if heirs seek to terminate a partnership regarding an inherited property, the first auction will be held exclusively among the legal heirs. For this first round to be successful, the bid must cover 100% of the appraised market value determined by an expert, plus all associated sale and distribution costs. If no buyer emerges among the heirs, a second auction will be opened to the general public, where the minimum bid can drop to 50% of the appraised value.

This rule applies only when all owners acquired the property through inheritance and no third-party shares exist. If a share was previously sold to an outsider, the property will go directly to a public auction.

The second reform concerns real estate advertisements on social media. Previously restricted, authorized real estate agents are now permitted to share property listings on social media platforms, provided the listings are verified through the Electronic Advertisement Verification System (EİDS). This move aims to increase market transparency and provide professionals with alternatives to high-cost listing portals.