Turkish Inheritance Law, also known as "Miras", is firmly established within the Turkish Civil Code, with the primary goal of safeguarding the interests of each family member. A fundamental understanding of this law is indispensable to ensure the seamless transfer of one's assets and property to their legal heirs and their rightful ownership.
Inheritance Regulations in Turkey
Turkish inheritance law encompasses various aspects that necessitate careful consideration to preserve your assets and protect the rights of your heirs. This encompasses the rules for drawing up a will, the procedure for obtaining an inheritance, and understanding the amount of tax to be paid. In many instances, consulting a proficient legal expert may be indispensable at various junctures during the inheritance registration process.
Explaining Inheritance in Turkey
Inheritance is the property of the deceased, which must be divided among the heirs. Inheritance may encompass money, movable and immovable property, or even outstanding debts. The heir can choose to accept or refuse the inheritance.
Hierarchy of Heirs in Turkish Legislation
Turkish inheritance law is characterized by its modern and equitable approach. The hierarchy of heirs begins with the spouse and children. If they are not present, the assets are divided among parents, siblings, grandparents, and grandchildren.
Inheritance for Turkish Nationals
Upon the passing of a Turkish citizen, a "Death Notification" is automatically forwarded to pertinent governmental entities such as civil registration offices, registry offices, and courts. Heirs can conveniently apply to the court or a notary public to obtain a "certificate of succession." This certificate delineates all inheritance rights pertaining to the deceased's movable and immovable assets. Subsequently, after the requisite tax is paid, the inheritance can be divided amongst the rightful beneficiaries.
Inheritance Procedure for Non-Turkish Residents
When a foreign national passes away in Turkey, the Turkish inheritance system operates in a similar fashion to that of Turkish citizens. The key difference lies in the requirement for heirs to furnish an official "Certificate of Right to Inheritance" and a "Marriage Registration Document" from the foreigner's country of origin.
Distribution of Inheritance Shares in Turkish Law
In accordance with Turkish law, in the absence of a will, property rights are allocated as follows. These rules determine how assets are distributed among heirs based on specific circumstances, ensuring a fair and just division.
Navigating the Process of Property Inheritance in Turkey
To initiate the inheritance process for foreigners, the submission of the "Certificate of Right to Inheritance" and "Marriage Registration" documents is obligatory. One of the heirs should submit an application on behalf of all other heirs. After settling the inheritance tax, the registration process typically concludes in approximately two days. Turkish citizens, on the other hand, are exempt from this process, as it is executed automatically.
Inheritance Tax in Turkey
In Turkey, inheritance tax varies from 1% to 30%, contingent on the inheritance's value and the degree of familial relationship between the deceased and their heir. A 3% tax is imposed on real estate valued at approximately $30,000, while properties surpassing $250,000 are subject to a 10% tax. All foreign beneficiaries inheriting property within Turkey are obligated to pay this tax. However, in the case of a property being gifted, no tax is levied. The payment of inheritance tax in Turkey is permitted within a three-year window from the date of property acquisition.Figures and rates are subject to change.
Drafting a Will in Accordance with Turkish Law
To guarantee the adherence to your wishes in the distribution of your assets and property, drafting a will in compliance with Turkish inheritance law is of paramount importance. A valid will must be in writing, signed by the testator (the individual making the will), and attested by at least two witnesses. The current legislation grants individuals over the age of 15 with full mental capacity the right to create a will.
Navigating Turkish inheritance law involves multifaceted considerations, spanning will drafting, inheritance acquisition procedures, and tax implications. In many instances, consulting a proficient legal expert may be indispensable at various junctures during the inheritance registration process.
Consult to a Turkish inheritance lawyer if you need legal advice.
