Author Topic: Changing names or inheritance of property  (Read 4844 times)

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Offline Steve (redding43)

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Changing names or inheritance of property
« on: May 30, 2011, 11:11:57 AM »
I know that these questions have been asked before but no clear answer given, so, as we have just looked at our options I thought I would post the facts of what are the next steps.

So firstly, unfortunately our father died last year of cancer having fought the disease for a couple of years. Both he and my mother own an apartment in Calis in joint names. Obviously with his death we had many things to deal with and dealing with the legals of the apartment ownership was not high on this list until now.

Following a visit over there last week, my mother and brother visited a solicitor to look at options. Effectively it came down to 3 choices.

1. Do nothing and then deal with the legalities of the Tapu when the surviving owner dies. In Turkish law ownership passes to children so it will be for them to resolve including payment of any fines (see my later comments)

2. Under Turkish law the children and the surviving partner inherit the deceased share (50%) and will divide it equally amongst them. To do this they will need to employ the services of a solicitor, notary for each partner and pay sales tax on the 50% share based on the amount on the TAPU (not the current Market value). All in all this added up to about £2,500 for our situation and would take about 2 months.

3. This option is the same as 2 above but involved the children inheriting the whole property by effectively buying out the surviving partner, an option that should be considered if you want to remove the need to go through option 2 again when the surviving partner also passes away. All rules are the same as number 2 above but the total cost for us was nearer £3000.

What was also clear is that there is also a law in Turkey in that if you do not inform of a death of a property owner within 3 months then you are liable to a 80TL fine (each) for the surviving owner AND any children. So I our case as there is our mother and 3 children we will each be fined 80TL. Also you need to be aware that, subject to TAPU value, inheritance tax may be due - not in our case though due to number fo children (3) and TAPU value

I hope this helps people who are faced or worried about being faced with the above situation in the future. We feel it is not anywhere near as bad process as we feared.

Steve

Offline Ian

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Changing names or inheritance of property
« Reply #1 on: May 30, 2011, 12:31:56 PM »
Steve - thanks for sharing that - very useful - hope you get it all sorted to your satisfaction.

Ian

Offline loz

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Changing names or inheritance of property
« Reply #2 on: May 30, 2011, 12:38:25 PM »
Steve, having worked on a friends Will for over 3years I have found out since that you can do the Will in UK, you have to choose a Solicitor that is fully conversant with overseas Taxations, they will also be able to gain the relevant Apostilled certificates and carry out the court ratifications for Turkey; This will also be attached to you UK Will and importantly YOUR wishes carried out, thus bypassing the Turkish inheritance.
I have lost total faith in the Turkish Will system, expensive and far too many hoops to jump through.
I have promised in previous post to find the UK solicitors details, will try again.

Offline sadler

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Changing names or inheritance of property
« Reply #3 on: May 31, 2011, 12:42:47 PM »
Would the authorities know how many children a deceased person has?  This is very relevant to us as we are both on our second marriage and both have child/children from our first marriages and also a daughter between us.

Offline Liz 101

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Changing names or inheritance of property
« Reply #4 on: May 31, 2011, 13:14:13 PM »
quote:
Originally posted by sadler

Would the authorities know how many children a deceased person has?  This is very relevant to us as we are both on our second marriage and both have child/children from our first marriages and also a daughter between us.



If you are going for Steve's option 2 or 3 surely they would need to know [?]

Offline Steve (redding43)

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Changing names or inheritance of property
« Reply #5 on: May 31, 2011, 15:39:13 PM »
They probably don't know ut, as Liz says, they would want to find out through proof of parentage. Not sure how past marriages/children would work other than a guess that would say it would be shared appropriately based on which parent has passed away (remember the surviving partner gets a share of the deceased estate as well)

Def one for legal advice I think

Offline sadler

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Changing names or inheritance of property
« Reply #6 on: May 31, 2011, 15:58:49 PM »
The reason I ask is that one of the "children",  40 Year old man and the only child of a previous marriage would not be a recipient of an inheritance from either of us from our U.K. wills, and we would not wish him to benefit from our Turkey property either. Is there any way around that one?

Offline Steve (redding43)

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Changing names or inheritance of property
« Reply #7 on: May 31, 2011, 16:13:35 PM »
Yes, write a will that's legal in turkey

Offline pookie

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Changing names or inheritance of property
« Reply #8 on: May 31, 2011, 16:53:39 PM »
Loz :  if you do find the name and details of an appropriate solicitor, could you send to me please ?   Think its about time we sorted ourselves out.  Not getting any younger !!  thanks xx

Offline stoop

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Changing names or inheritance of property
« Reply #9 on: May 31, 2011, 17:02:35 PM »
Me too Loz - we ain't getting any younger either :(




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