Title Deed Swap System
Title Deed Swap System is a secure way of title deed conveyance in Turkey called Tapu Takas. It guarantees the payment for the seller and the title deed for the buyer by acting as an escrow agent. Title Deed Swap System was established in cooperation with TKGM and Takasbank to provide payment transactions and title deed conveyance in a secure medium for both sellers and buyers.
Title Deed Swap System is a system that works integrated with TAKBIS and Takasbank. The buyer pays the sales price to Takasbank, while TAKBIS secures the Seller’s title deed. Both parties do not need to trust each other, the Title Deed Swap system guarantees their title deed and money.
TKGM is the abbreviation of Tapu ve Kadastro Genel Müdürlüğü (General Directorate of Land Registry and Cadastre). TKGM is the authority of title deed registration. TAKBIS is the abbreviation of Tapu ve Kadastro Bilgi Sistemi (Land Registry and Cadastre Information System). It is a software of title deed registration and cadastre database used by TKGM. TAKASBANK (Takas ve Saklama Bankası A.Ş.) is a bank in Turkey. It is the money securing part of the Title Deed swap system.
The application works smoothly on all digital platforms such as computers, tablets, and mobile phones. Therefore, you can perform your sales transactions from anywhere you can connect to the internet.
How Does It Work?
After the seller applies to TKGM for a title deed conveyance, the process starts as follows;
Seller and buyer register into the system with the e-payment receipt number that they receive from TKGM and the ID information via www.taputakas.com.tr or "Tapu Takas" mobile app. They approve the title deed information subject to be sold / purchased on the screen.
- The seller clicks on the "Registration" button via www.taputakas.com.tr or "Tapu Takas" mobile app. Selects whether to make sales transactions as "Real, Foreign or Legal Person" on the page that opens. Enters the system by writing the e-payment receipt number received from TKGM. Here if the seller is a legal person, a tax number; if the seller is a real person, an ID number and if the seller is a foreign, Tax ID number is required. On the Title Deed Swap process page, the property owner enters the personal or company information, bank IBAN number, postal address and e-mail information. Then write the sales price and information of property such as province, district, neighbourhood, land, plot number and independent section. Finally, the seller clicks on the Save button by accepting to pay the title deed swap commission fee.
The seller confirms the Tracking Verification Code, which is sent to the mobile phone via SMS by entering the box on the screen. The information on the registration created, title deed swap commission fee and the Takasbank reference number (TVS Ref No) that should be forwarded to the buyer is sent to the seller via SMS.
- The buyer clicks on the "Registration" button via www.taputakas.com.tr or "Tapu Takas" mobile app as the seller did. Selects whether to make purchase transactions as "Real, Foreign or Legal" on the page that opens. Enters the system by writing the E-payment (Receipt) number received from the General Directorate of Land Registry and Cadastre. Here if the buyer is a Legal, the tax number, if the buyer is a Real, the ID number and if the buyer is a Foreign, Taxpayer ID number is required. The buyer enters the "TVS Reference Number" that the seller has forwarded to him, receiver information, bank IBAN number, postal address and e-mail information if any. Finally, the buyer clicks on the Save button by accepting to pay the title deed swap commission fee.
The buyer confirms the Tracking Verification Code, which is sent to the mobile phone via SMS by entering the box on the screen. The buyer is informed by Takasbank via SMS in order to send the commission fee and sales amount.
After both sides have completed the login into the system, Takasbank checks and matches the all information of the seller and the buyer in the TAKBIS.
SMS is sent to the buyer by Takasbank in order to send the commission fee and sales amount via money transfer. In addition, SMS is sent to the seller in order to send the commission fee.
The seller sends 70 TL commission fee to the Takasbank account with the IBAN number TR33 0013 2000 0000 0000 0240 45 by writing their e-payment receipt number in the money transfer explanation field. They should send the fee only from their accounts specified during the first registration into the system. Otherwise, the transfer amount will be automatically refunded.
This time the buyer sends 70 TL commission fee + sales amount to the Takasbank account with the IBAN number TR33 0013 2000 0000 0000 0240 45 by writing their e-payment receipt number in the money transfer explanation field. They should send the fee only from their accounts specified during the first registration into the system. Otherwise, the transfer amount will be automatically refunded.
After the money transfer is made, Takasbank secures the sales amount until the title deed transaction is completed. Simultaneously, the buyer and seller are informed via SMS that the sale amount is secured by the Takasbank.
Immediately after the title deed transfer on the TAKBIS system, Takasbank sends the sales amount via money transfer to the IBAN number provided by the seller. Both parties are informed via SMS that the transfer process is completed. (If the title deed transfer is executed after 17:15, the sale amount is transferred to the seller account on the next business day.)
Title Deed Swap Commission Fee
The total cost of using this secure system is 70 TL. The transaction fee is collected from the buyer and seller regardless of the sales price. This amount is not refunded even if the title deed transfer is cancelled at the Tapu office.
Possible Cancellation of Sales
Starting this process does not keep both parties under the obligation of conveyance. The Seller or the buyer can cancel the sales at any stage of conveyance until you sign the final signature in front of the Title Deed Clerk.
Although the buyer was transferred the sales amount to Takasbank's account, if the seller does not transfer commission fee within 3 business days following the match in the system, the sales amount is refunded to the buyer's bank account without any further notification.
In case of the cancellation of sales after sending money to Takasbank, the sales amount secured by Takasbank is refunded to the buyer’s account via money transfer.
Although the sales amount and commission are paid to Takasbank account if the title deed transfer does not take place at Tapu Office within 29 calendar days or cancellation of sales is not notified by the parties, on the 30th calendar day following the transfer of the land registry fee, the sales amount is refunded to buyer’s account without any further notification.
Advantages of Title Deed Swap System
- It provides time, labour and cost advantage with secure and technological infrastructure.
- It eliminates risks such as counterfeit money, theft and fraud.
- You can easily complete your transactions due to simple and user-friendly screens.
- Since you will receive notifications via SMS at every stage of the transactions, you will have information about the whole process.
- You will be able to track the status of money transfer through Takasbank account. As a seller, you can safely sign the title deed at the Tapu office after you see the sales amount transferred to the Takasbank account.
- The fact that the sales amount is secured by Takasbank, and is transferred to the seller's account just after the completion of the title deed transfer, gives assurance and security to the buyer.
- If the sale is cancelled, then the money you sent to Takasbank is refunded to your account.
- Each step in the process may be easily tracked by using "Status Check" at the www.taputakas.com.tr.
Q: How does the process work after the sales contract?
A: After the completion of the applications of the parties and entering the system with the receipt number given by the General Directorate of Land Registry and Cadastre, then the title deed conveyance process begins.
Q: How long does it take to receive the money to my account after the title deed conveyance?
A: The sales amount is transferred to the seller’s account immediately after the completion of the conveyance process at Tapu Office. However, if the process is executed after 17:15, the sales amount is transferred to the seller’s account on the next business day.
Q: In the transactions by proxy, who will the money be transferred to?
A: For the sales transactions with a power of attorney, it is mandatory to enter the IBAN number of the seller’s bank account in the Tapu swap system. So that the sales amount will be deposited into the seller's account only.
Q: How can I ensure that the money is secured by Takasbank?
A: Parties are notified via SMS or E-mail at every stage of the process. In addition, you may track each stage of the process by using the "Status Check" button on the www.taputakas.com.tr
Q: Can I cancel the sale?
A: The buyer and the seller can cancel the sale even if the money has been transferred as long as there is no match by TAKBIS (matching of the amount entered to the system by the parties).
Q: Can I send the sales price or commission price to Takasbank from all banks?
A: Yes. However, payment should be sent only from the IBAN number of the bank account specified during the first registration into the system.
Q: Does the sales price have to be the same as the sales amount on the title deed?
A: No. The preferred sales amount can be realized through this system.
Q: How does the system work if there are more than one buyer or seller?
A: The system works the same way. All parties should register into the system separately and the sales amount they will enter into the system should only be amount belonging to themselves.
Q: Will I pay money transfer cost?
A: No. There is no additional fee other than the fee of 70 TL title deed swap commission.
Q: How can I verify the reliability of notifications sent by Takasbank?
A: All notification messages sent by Takasbank includes a "Tracking Verification Code" that is sent during the first registration, the messages that don’t have the "Tracking Verification Code", or don’t have the correct one, should not be taken into account.