One of the most common questions we have received from our customers who want to buy a property in Turkey is the inheritance mechanism and the related laws. Does the state own the property of the foreign investor after his death, are there any inheritance taxes and does the Turkish differ from the foreigner in value? And other questions that we will answer in this article…
When an investor starts his projects, he must study many things beforehand, including the laws, inheritance laws and regulations in the host country for his investments.
Inheritance Laws in Turkey:
There are several factors that affect the legal mechanism of dealing with property ownership in the Republic of Turkey, including the location, if the property is located within the borders of the territory of the Republic of Turkey, it is subject to the laws of Turkish inheritance, in addition to the separation between dealing with movable and immovable property, where dealing With the latter according to Turkish law.
Turkish inheritance laws are divided by the direct heirs of the property, taking into account the will of the deceased owner and the inheritance and transfer tax law.
The first heirs are the children and if the husband / wife is included in the sharing of the inheritance, then his share will be a quarter.
In the absence of children, the parents are the heirs, and if the husband / wife is included in the sharing of the inheritance, his / her share is half.
In the absence of children and parents, the husband / wife shares the inheritance with the deceased's grandfather or siblings and his / her share three quarters.
If the deceased does not have relatives, the entire property goes to the spouse.
If there are no relatives or spouse, the property becomes the property of the State.
The competent courts shall look into the will of the person after him.Anyone may leave his will to indicate how to dispose of some or all of his property after his death.In order to be legal before the law, the owner must have full mental capacity and over 15 years of age. The notary under certain official conditions, signed in front of two witnesses, or written in his own hand. The day, month and year must be mentioned and bear his signature.
The person concerned can withhold a heir from his share, provided that he / she wishes to do so before the court, and the person who has been withheld cannot sue the person concerned.
Inheritance Tax Law in Turkey:
If the property of foreigners is subject to Turkish law, it will inevitably be subject to inheritance and transfer tax, and the tax differentiates between two types of property where each type has a different proportion, it is the property transferred to its owner free of charge through prizes or gifts or donation, etc. The way of inheritance,