Is the property inherited in Turkey, and what is the inheritance law in Turkey, one of the most common issues raised by those who want to own a property in Turkey or want to enter the successful real estate investment market in Turkey. Let us know what are the laws related to the inheritance of real estate in Turkey and whether the Turkish state acquires the foreign investor’s property after his death. Are there inheritance taxes and their value, and do the value of taxes differ between the Turkish and the foreign investor?
Inheritance tax law in Turkey:
The location of the property is the most important point in determining the inheritance tax in Turkish laws.
The real estate law applies within the borders of the Turkish state and includes real estate and immovable properties.
When buying a property in Turkey, you must know that the transferred property is subject to the laws of inheritance of the country of the deceased's nationality.
Turkish law applies to real estate and immovable property.
Is the property inherited in Turkey?
In the event that the investor or the owner of the property dies and does not have an official will for the immovable property, then they are determined according to the following sequential order:
Children and husband or wife.
His family, his mother and father, in case he did not have children.
If he does not have children or parents, the inheritance is shared between the husband or wife with the deceased’s grandfather and his brothers.
In the event that none of the above is available, the descendants and their children are inherited.
If the deceased property owner does not have any relatives, the inheritance is completely transferred to the husband or wife.
When the owner of the property does not have any living relatives, the inheritance goes to state property.
How is inheritance distributed?
In the beginning, the bequest is discharged by paying the debts of the deceased property owner or installments with banks and other debts.
Turkish law stipulates that half of the inheritance be distributed to the children and the other half to the wife.
As for the shares of boys, they shall be equal between males and females.
The inheritance laws of the country of the deceased can be applied provided that they apply to all inheritances.
What are the documents required to transfer the ownership of the inheritance in Turkey?
The inheritors must submit official papers in order to transfer the ownership of the inheritance in Turkey, and these papers are:
A family statement or the so-called inheritance inventory, which are official papers indicating the point and degree of kinship.
The family statement must be legalized and translated into Turkish.
Obtaining tax numbers and registering papers in the tax registry.
A valid passport.
What is the inheritance tax in Turkey?
The inheritance tax law is applied in Turkey in the event that the inherited money is located inside Turkish territory.
Whether the heir lives in Turkey or abroad, the money will be subject to inheritance tax.
Inheritance tax in Turkey is low compared to other European Union countries.
And the value of the inheritance tax depends on a price, as it decreases the lower the price of the property.
The inheritance tax rate varies between 1% to 10%, depending on the location of the property and the residency status of the heir.
Does inheritance tax apply to foreigners in Turkey?
In the event that the heir and the owner of the deceased property are foreigners, the property inheritance process in Turkey is subject to the Turkish inheritance tax law and the transfer of ownership.
The heirs must submit a tax and transfer statement in which they explain the deceased's property.
It is not accepted to submit a tax statement outside Turkey and the heirs are not required to submit their own tax statement outside Turkey.
In the event that the heir and the owner of the deceased property are in Turkey, the tax statement must be submitted within 4 months only.
When can I pay the property inheritance tax?
Turkish laws stipulate that inheritance tax must be paid in Turkey within a maximum period of 3 years.
The tax is paid in the months (May, November, November).
Is it possible to write a will for inheritance in Turkey?
A person in Turkey can write a will to give away his property after his death.
The will must be written in accordance with Turkish law to be a legal document.
The recommended person must be over the age of 15.
The heir must be of all his mental strength.
The will is written in the hand of its owner, indicating the date, day, month and year.
The paper must also be filled with the signature of the owner of the will.
The will is submitted to the court or notary with its signature in front of two witnesses.
The court of first instance or the magistrate’s court handles issues related to inheritance.
Can one of the heirs be prevented from inheriting?
In fact, yes, the owner of the property can prevent an inheritor from receiving his estate by presenting convincing reasons before the court.
A person deprived of the inheritance cannot sue the owner of the inheritance.
At the end of the article, is the property inherited in Turkey:
We must know that the laws of real estate ownership and inheritance transfer are very easy and make real estate investment in Turkey a good thing, as the property owner can guarantee the future of his property for his children or heirs.