Turkey updates DASK earthquake insurance rules for property sales

New regulations regarding Compulsory Earthquake Insurance (DASK) in Turkey have been introduced to clarify the insurance process during real estate transactions. According to the changes published in the Official Gazette, when a property is sold, the existing insurance contract will automatically terminate as of the title deed registration date.

Under this new system, the current policy will not be transferred to the new owner. Instead, the new owner is required to obtain a separate DASK policy in their own name. To prevent properties from remaining uninsured after a sale, land registry offices or authorized authorities will verify the existence of a valid policy for the new owner during the transaction process.

Regarding financial rights, former owners can apply to their insurance agents to receive a cash refund for the unused portion of their premiums.

For property transfers that occur outside of a standard sale, such as through inheritance, the existing policy will continue with the new owner. However, the new beneficiary must notify their insurance agent of the change within 15 days of learning about it. Once notified, the agent is required to update the policy and issue a new document within 24 hours.