A- PROPERTY REGIME AGREEMENTS
The following samples of contracts regarding the property regime have been prepared by the Union of Notaries of Turkey. The samples were sent to all notaries with the circular dated 18.01.2002.
Since the registration and announcement of these contracts have been abolished, these transactions will not be carried out.
Photographs of the relevant persons must be attached to the transactions. (NK-Regulation Article 93)
1 – Regime of Participation in Acquired Property
SAMPLE AGREEMENT
(………..)
Spouses take the floor together
We were married on …../…./……. Between us, effective from the date of marriage, we accept the regime of participation in acquired property.
From the commencement of this property regime until this date and during the continuation of this regime after this date, the performances of each of us which constitute the remuneration for the work performed by each of us, payments from social security and social welfare institutions, payments paid or to be paid due to the loss of our working capacity, the proceeds of our personal property and our incomes which replace or will replace our property listed in this article shall constitute the separately acquired property of each of us and shall belong to each of us.
Separately and exclusively for personal use, property values acquired by inheritance or by any gratuitous acquisition or gratuitous acquisition of any kind before or after marriage, claims for damages for non-pecuniary damages awarded or to be awarded, and substitutes for such values listed in this Article shall constitute the personal property of each of us.
Each of us shall have the right to manage, enjoy and dispose of his or her acquired and personal property within legal limits. We will only be able to dispose of our share of jointly owned property with each other’s consent.
Each of us will be responsible for his/her debts with the acquired and personal property belonging to him/her.
In case of termination of the property regime, each of us will get back the property held by the other.
We will pay our mutual debts to each other through barter.
In the event of termination of the property regime, each of our personal property and acquired property will be separated according to their status at the time of termination.
During the liquidation, the spouse who proves that he/she has the superior interest and pays the other spouse’s share may request that the property subject to joint ownership be given to him/her without division.
If the lump sum payments made to one of us from social security or social welfare institutions or the compensation paid to us due to loss of earning capacity was paid as a lifetime annuity instead of a lump sum payment or compensation, in case of termination of the property regime, the cash capitalized value of the annuity for the next period on the date of termination shall be considered as personal property in the liquidation in the same amount.Any gratuitous gift, other than ordinary gifts, made by one of us, without the consent of the other, within one year prior to the termination of the property regime, or transfers made by one of us during the continuation of the property regime for the purpose of obtaining the consent of another during the continuation of the property regime. The person who reduces the other’s right of participation is added in value to the acquired property.
Sample Contract Continued
If the debts of each of us in respect of his or her personal property are being paid to him or her out of his or her acquired property, or if the debts in respect of his or her acquired property are being paid out of his or her personal property, then equalization shall be made during the period of liquidation.
A debt that belongs to one of us shall be an obligation on the part of the property that belongs to him or her, but a debt to which part of the property cannot be identified shall be deemed to relate to the acquired property of that spouse.If one of us has contributed to the acquisition, improvement or preservation of property belonging to him or her in the other part of the property, compensation will be paid if the value of that part increases or decreases. it will be based on his or her share of the contribution and the value of the property at the time of liquidation or, if the property has already been disposed of, on equity.
The residual value will be the total value of each of our acquired property, including additions and amounts from equalization, less any debts relating to that property.
The liquidation will be based on the exit value of the assets, and the acquired assets existing at the date of the termination of the property regime will be taken into account with their value at the time of liquidation and their value to be added. In the calculation, the acquired assets are calculated based on the date of transfer of the property.
Each of us will be entitled to half of the remaining value belonging to the other and claims will be exchanged.
The participation claim and the value increase can be paid in cash or in kind. The same payment is based on the delivery value of the property.
From the date the liquidation ends, interest at the rate of… %… will be applied to the participation claim and the share of increase in value.
In the event of the death of one of us, the survivor may claim usufruct or residence rights over the dwelling belonging to the deceased and in which they lived together, by deducting the participation claim or adding its value if it is not sufficient; Under the same conditions, the survivor may claim ownership rights over household goods.
Signed Signature
NOTE:
Article 3 of the contract: The contract may include a provision that one spouse may dispose of his/her share in the jointly owned property without the consent of the other spouse.
Article 6: Spouses’ obligations
a- Spouses may waive their share of the increase in value and change the share ratio.
b- Spouses may agree on another basis for participation in the residual value.
Article 18: Spouses may agree that no interest shall be charged on the participation receivable and the share of increase in value and no collateral shall be required from the debtor.
Article 19: Spouses may make a different arrangement regarding the family dwelling and household goods than those specified in Article 240/1 of the Civil Code.
Spouses may agree not to include the income from personal property in the acquired property.
As the provisions regarding the registration and announcement of the agreement have been repealed, these procedures will not be performed.
This contract example concerns spouses who have applied pursuant to paragraph 3 of Article 10 of the Law on the Enforcement and Implementation of the Turkish Civil Code and wish to bring the beginning of the contract back to the date of marriage.
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