The Parliament passed an omnibus bill which has made certain amendments in the Notary Law (“the Law”, Law No. 1512) that will allow public notaries to execute the real estate sales contracts.
The new Article 61/A, titled "Real estate purchase agreement", states that real estate purchase agreement can also be concluded at public notaries. Therefore, such contracts concluded in the public notaries will have the same effect as if they were concluded at the land registry offices.
Pursuant to the new provision, the title deed registration sample and other necessary documents will be shared with the notaries through the land registry information system (“System”) by the General Directorate of Land Registers. Missing documents or information, if any, will be requested from the relevant land registry office through the System. Once the contract is signed by the parties, transaction number will be received, and the contract will be registered to the System by the notary. Thereafter registration of the real estate in the land registry will be ensured by the land registry office. The contract and other documents have be uploaded to the System by the notary and must be physically archived.
The amendments made in the Law shall become effective on January 1, 2023. While real estate sales contracts will continue to be executed at land registry offices, within the scope of recently-added article notaries will become an authorized body to execute official sales contracts which will lift heavy workload on the land registries.