Title Deed Transaction System in Turkey

The most difficult part of purchasing an apartment is most likely the conveyance deed process. When does the seller receive the entire amount? What happens to the buyer when they receive their title? To make it easier for the process of transferring money between two parties, TKGM (Tapu Kadasto Genel Mudurlugu, General Directorate of Land Registry and Cadastre) and TAKASBANK (Takas ve Saklama Bankasi) has developed the electronic Title Deed swap System. The new software system offers an easy and safe way to pay and transact with title documents.

Title Deed Swap System (TapuTakas) is an online platform that acts as a middleman between the seller and buyer to secure transactions. It functions in a synchronized manner with Takasbank in addition to Takbis (Tapu Kadastro Bilgi System). The system eliminates the buyers and sellers dependence on each other. Takasbank ensures the security of the funds while TAKBIS has it in the titles to safe transactions. The system is compatible with digital platforms like tablets, phones, and computers, allowing both parties to complete transactions safely from any place with an internet connection.

How Does Title Deed Swap System Works?

To begin the process, the seller has to apply for TKGM for a title deed conveyance.

Step 1

Seller and buyer sign up for using the e-payment receipt number that they receive from TKGM and their ID details at www.taputakas.com.tr and “Tapu Takas” mobile app ( Android or iOS).

Seller- After registration, the seller has to choose to conduct the transaction as a genuine person (requires an ID number), a foreign individual (requires TAX ID number) or a legal entity (requires the tax ID number). In the Title Deed Swap page, the seller gives the personal or company information, bank IBAN, postal address, and the address of the mail. The seller will provide the sale price and the property’s information, including districts, provinces, neighbourhoods, plot numbers, and independent sections. After saving the modifications and submitting the changes, the system sends an email to confirm the information along with it also provides the Takasbank Reference Number, which is to be sent to the prospective buyer.

BuyerAfter obtaining a Takasbank reference code (TVS ref number), the buyer is required to follow the same steps to register similar to the seller’s process; however, the only difference is after the buyer’s procedure, the system will ask for a “TVS Reference Code” that the seller emailed to the buyer.

*If both parties save the registration stage, they will also agree that they had agreed to pay the commission for swapping titles.

Step 2

After both parties log in and confirm their modifications, Takasbank and the Takbis system will match the data. Once the match is completed, the buyer will receive an SMS advising of the commission payment.

Step 3

The buyer (buyer can also pay the sale price in the transaction) and the seller pay 70 TL of commission to Takasbank and an IBAN code TR330013 0000000 024045 by writing their e-payment code in the explanation.

Take note that during making a payment, make sure to use only the account details you have registered. If you do not, the money will be returned automatically.

Step 4

After the money transfer has been completed, Both parties receive an email advising that Takasbank will hold the sale sum until the exchange of the title process is complete. Title deed transfers are generally performed at the same time. (Note that if the title deed was transferred during business closing hours, cash payment is made to the seller on the following working day.)

Title Deed Swap Commission Fee

The fee of 70 TL is charged to use the system, regardless of the property’s value. Because this commission is charged through the system, the amount cannot be refunded regardless of when you decide to end the sale.

Cancellation of Sales

One of the benefits of swapping title deeds is that it does not place anyone in any obligation. The buyer or seller may end the transaction at any time. The advantage of this system is evident when the buyer wants to cancel the swap, and the amount will be refunded to the buyer’s bank account details through Takasbank.

Although the online transfer is completed if the Land Registry and Cadastre Office do not sign the title deed transfer within 29 calendar days or if the cancellation is not made known by the parties on the 30 days following the date of the sale, day after that sale date, the purchase is returned to the buyer’s bank account.

Advantages of Title Deed Transaction System

* It’s more modern. It also offers cost and time advantages.

It eliminates the possibility of theft, fraud, embezzling, or fake money. The buyer and seller can finish the transaction by themselves using an easy-to-use interface.

* Notifies both buyers and sellers by sending SMS messages about each step, allowing for easy monitoring of the procedure. Each step is followed by selecting the “Status Check” option.

* Assures trust to both parties. When a sale is terminated, the Takasbank system transfers the money back to the owner securely. The seller may complete the title deed in the Tapu office following the sale amount in the Takasbank account.


How should I proceed following having signed the sales contract?

Upon signing the contract for sale, each party registers Title Deed Swap System (TapuTakas) using the receipt numbers they receive from the TKGM, and the transfer process starts.

What time will I have to wait before receiving the money following the swap of title deeds?

The parties sign the amount is immediately transferred to the seller’s account once the process is done. One note, only when the transfer is made during business hours, the transfer will occur within business hours.

If the transfer is done by a person who is an intermediary, does the proxy receive the money on behalf of the owner?

No. The transfer process can be performed by someone who has a Power of Attorney, but it is mandatory to provide an owner’s IBAN details on the registration page. The number of sales can only be transferred to the person who owns the property.

Do I have confidence in Takasbank with my money?

You will be informed by email or text message based on the request you make to transfer each step. You can always click “Status Check” to see the procedures.

What happens if the transfer is cancelled?

Yes. As long as the registration process with the Land Registry Office is approved, You can cancel at any time.

What banks can I utilize for money transfer to Takasbank?

The only requirement is that you have registered your IBAN within the system; you’re able to make use of any bank you like.

Does the sale price have to be in line with the sale amount in the title deed?

No. At the time of registration, you’ll determine the sale price. In the absence of a payment, the transfer process won’t occur.

Is the system able to work with multiple buyers and sellers?

Yes. Each buyer and seller must sign up for the system separately. The number of sales they enter should align with their payment amounts.

What if I was charged for the cost of the transfer?

No. The only additional amount is a 70-TL exchange commission for title deeds.

Can there be a method to ensure that the messages are sent from Takasbank?

All communications sent out by Takasbank have a “Tracking Verification Code”, the same as that which was sent when you first registered. Any messages containing an incorrect code or none at all are not considered valid.

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