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ARTICLE · 22 DECEMBER 2011

Update To Turkish Real Estate Law

The Turkish Code of Obligations ("TCO") was published in the Official Gazette on 04/02/2011 and will be effective on 01/07/2012.

TurkeyReal Estate and Construction
Gary Lachman
Gary Lachman

The Turkish Code of Obligations ("TCO") was published in the Official Gazette on 04/02/2011 and will be effective on 01/07/2012. Some important issues regarding real estate leases were amended from the prior legislation.

The TCO annuls the prior Code of Obligations ("CO") and the "Code of the Lease of Immovables". In the new TCO, articles relating to leases are addressed under the title of "Private Debt Obligations". The definition of what constitutes a lease agreement, the duration of leases, the obligation of the lessor, obligations of the lessee, private conditions, lease termination, return of the leased property, and the lessor's right of lien are regulated under the "General Provisions".

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