New era in title deeds: Cash era in real estate is ending

The Secure Payment System, which reorganizes payment processes in real estate buying and selling, is becoming mandatory for all title deed transactions as of July 1, 2026. With this regulation, practices of cash payments and direct money transfers will come to an end.

A NEW ERA IN THE PAYMENT PROCESS

According to the new practice, the sale price will be held in a secure account until the title deed transfer takes place. Once the transfer process is completed, the amount will be automatically transferred to the seller's account. This aims to eliminate the uncertainties experienced during the transaction process.

The parties will be included in the system through contracted banks or payment institutions. Following the approval of the title deed registration, the blocked amount will be transferred to the seller's account in a short time.

GOAL: SAFER AND RECORDED TRANSACTIONS

The regulation aims to reduce the risks of fraud, forgery, and theft in real estate sales. At the same time, it aims to prevent unregistered transactions and make payment processes more secure.

In the current practice, the fact that the sale price is often paid in cash causes parties to carry large amounts of cash, which brings various risks along with it. With the new system, it is planned to eliminate these risks.

EFFECTIVE DATE UPDATED

The application was initially planned to be launched on May 1, 2026. However, the effective date has been postponed to July 1, 2026, in order to complete the technical infrastructure work.

Authorities state that efforts to extend the period are continuing so that the system can be implemented completely. It is stated that technical preparations are ongoing with the General Directorate of Land Registry and Cadastre.

OPERATION DEFINED STEP BY STEP

In the system, the buyer and seller will agree on the sale price and initiate the transaction through the secure payment platform. The buyer will deposit the payment not directly to the seller, but into the secure account determined by the system.

This amount will remain locked in the account until the title deed transfer is completed. When the transaction is concluded, the money will be automatically transferred to the seller; if the transaction does not take place, the amount will be refunded to the buyer.

A low-amount service fee will be charged for the use of the system. Fee details are expected to become clear once the application enters into force.

PREVIOUS SYSTEMS WERE NOT MANDATORY

The Taputakas system, which was previously implemented in cooperation with the General Directorate of Land Registry and Cadastre and Takasbank, offered a similar guarantee. However, because it was not mandatory, its usage rate remained limited.

With the new regulation, the secure payment system is becoming mandatory for all title deed transactions.