Warning to property owners: If you do not pay attention to these 3 rules, you could lose your property!
Owning a house, land, or workplace is not enough on its own. It is of great importance to secure your assets against fraudulent powers of attorney and irregular sales.
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Millions of people in Turkey own titled real estate. However, protecting it is just as important as owning it.
In recent years, many citizens have been victimized due to fake powers of attorney, inheritance-related disputes, and fraud attempts. Experts remind us of three key points that must be paid attention to in order to secure titled properties.
1. REGULARLY CHECK YOUR TITLE DEED RECORD VIA E-DEVLET
One of the most effective measures against fraud attempts is to regularly check your title deed records. Thanks to the service provided by the General Directorate of Land Registry and Cadastre through the E-Devlet system, you can access all information regarding your property and be informed of any transactions made without your knowledge. This allows you to be instantly aware of any changes regarding your title deed and gives you the chance to intervene quickly.
2. RESTRICT SALES BY ADDING AN ANNOTATION OR DECLARATION TO YOUR TITLE DEED
With annotations you place on the title deed, you can largely prevent transactions from being made on your property without your permission. Annotations such as "cannot be sold," "cannot be pledged," or "cannot be transacted without prior permission" create an important security shield, especially for those who own multiple properties, the elderly, and those living in other cities. You can have these restrictions placed by applying to the land registry office with documents obtained from a notary.
3. GRANT LIMITED AUTHORITY WHEN TRANSACTING VIA POWER OF ATTORNEY
One of the most common risks in title deed transactions is irregular transactions made via power of attorney. Avoid giving an unlimited and indefinite power of attorney, even to someone you trust. General powers of attorney, in particular, can lead to serious damage in the hands of malicious individuals. Therefore, powers of attorney should be preferred that are arranged to be valid only for specific transactions and for a specific period.