Liquidation Of The Movable Properties

In General

Our legal system provides, under article 939/1 of the Turkish Civil Code that pledges over movable properties may be established by transfer of actual possession of the movables. Pledges over certain goods whose transfer lacks any benefit to the creditor may be established without transfer. Pursuant to article 940/2 of the Turkish Civil Code, the movable properties who are required by law to be registered to their relevant registries may be pledged, without transfer of possession of such property, by means of annotation of pledge to the relevant registry, for the purposes of guaranteeing the receivables of real persons or legal entities.

Procedure of Liquidation of Pledged Property