Saturday, December 24, 2005

Property sale to foreign nationals passed by commission

"Parliament's Justice Commission has passed a bill on the sale of property to foreigners that is soon expected to be discussed in the General Assembly.

There were serious arguments during the passage of the bill last Tuesday, with Republican People's Party (CHP) deputy from Malatya Muharrem Kılıç arguing that a new clause was being introduced to alleviate concerns over the sale of property near military zones but saying that it was far from satisfactory."

How is this relevant? Read the following:

"Foundations, associations, cooperatives, groups and religious communities will not be able to purchase property. If officials prove that the law was not adhered to or that the land purchased is not being used for the specified purpose, the Finance Ministry will set a deadline for the owners to sell it and if not will make the sale itself and return the proceeds to the owner."
Turkish Daily News - Property sale to foreign nationals passed by commission

No comments: