New regulation for title deed transactions

The Ministry of Environment, Urbanization and Climate Change has implemented an important regulation regarding title deed transactions. 

According to the newly published regulation, property transfer transactions can now be carried out at any land registry office without requiring authorization from the land registry office where the property is located. This change will allow citizens to complete their title deed transactions more quickly and easily.

TRANSACTIONS OUTSIDE THE JURISDICTION CAN BE PERFORMED DIGITALLY 

With the new regulation, if the parties are in different locations, title deed transactions can be carried out electronically. Transactions can be completed without the need for contracts between the parties for property transfer and without obtaining authorization from the land registry office where the property is located. This regulation will allow for more flexible and faster title deed transactions.

TRANSACTIONS WILL NOT BE PROCESSED WITH OLD POWER OF ATTORNEY DOCUMENTS 

According to the new regulation, transactions outside the jurisdiction cannot be carried out with power of attorney documents issued before November 21, 2023. Furthermore, applications, the preparation of official deeds, and other procedures can be performed entirely in a digital environment. This will significantly reduce the need for physical presence in title deed transactions, offering a more efficient process.

With the new regulation, bureaucracy in title deed transactions will decrease, and thanks to the digital system, transactions will be carried out faster and more easily.

News Source: 12punto