New developments
Condominium Ownership Law No. 634 (“Law on Condominium Ownership“) and Land Registry Law No. 2644 (“Land Registry Law“) have recently undergone significant amendments affecting investors, relevant financial institutions and condominium owners alike. These amendments were introduced by Law No. 7579 on Amending the Land Registry Law, Certain Other Laws and Decree Having the Force of Law No. 375 (“Amendment Law“), which entered into force upon its publication in the Official Gazette dated 22 May 2026 and numbered 33261, and you may access the text of the Amendment Law here (in Turkish).
What does the Amendment Law introduce?
With the Amendment Law, the main amendments introduced within the scope of the Law on Condominium Ownership and the Land Registry Law are summarized below:
1. Amendments made to the Law on Condominium Ownership
a. The manager will now be able to collect advances until the operating project is approved
Under the previous regulation, the manager was granted the authority to collect an appropriate amount of advance from the condominium owners for the general management affairs of the main immovable and, in case such advance was spent and exhausted, to collect advance again for the remaining works. With the Amendment Law, this regulation has been repealed; the authority of the manager to collect advances has been limited to the period until the operating budget is approved
b. The operating project will now be adopted by the condominium owners’ board
The operating project will now be approved in the general assembly of condominium owners. If there is no operating project adopted by the general assembly of condominium owners, the manager shall prepare a temporary operating project without delay; this temporary project shall be submitted to the approval of the general assembly of condominium owners, for adoption as is or by amendment within three months at the latest. Thus, the responsibility for approval of the project has been left to the general assembly of condominium owners and the temporary project prepared by the manager has been subjected to an approval process for a period of three months. Accordingly, the mechanism of board review based on objection within seven days following notification of the project has been completely abolished. Under the new regulation, the project shall, after notification, be submitted to the approval of the general assembly of condominium owners general assembly of condominium owners for adoption as is or by amendment within three months at the latest, without being subject to any condition of objection.
c. An upper limit has been introduced for the amount of the temporary operating project based on the revaluation rate
Where an operating project is in force, the amount to be set for the temporary operating project has been limited. Accordingly, the amount of the temporary operating project shall be determined so as not to exceed the revaluation rate determined and announced for the previous year pursuant to the repeated Article 298 of Tax Procedure Law No. 213, applied annually from the beginning of the calendar year, over the amount of the operating project in force, and shall be submitted to the condominium owners’ board in accordance with the procedure set out in the paragraph above.
d. The quorums required for amendments to the management plan in collective structures have been reduced from four-fifths to two-thirds
With respect to both the independent sections represented by the members of the board of representatives of the collective structure and the provisions of the management plan relating to temporary management, the previously required “four-fifths” majority has been reduced to a “two-thirds” majority. In addition, with the paragraph added to the article on the management plan and its amendment, it has been expressly stated that provisions of management plans contrary to this article shall not be applied; accordingly, even if a higher quorum is stipulated in existing management plans, the new statutory ratio shall apply.
2. Amendments made to the Land Registry Law
Valuation reports prepared pursuant to housing finance and capital markets legislation by valuation institutions authorized by the Capital Markets Board and the Banking Regulation and Supervision Agency must be sent, electronically and free of charge, to the General Directorate of Land Registry and Cadastre (“GDLRC“) on the date of issuance of the report by the public institutions and organizations, banks, and other financial institutions that have commissioned such reports. The procedures and principles regarding the electronic transmission of such data shall be determined by the Directorate by obtaining the opinions of the relevant institutions and organizations.
Conclusion
With the Amendment Law, the amendments made to the Law on Condominium Ownership transform the process of preparation and approval of the operating project into a structure centered on the general assembly and limited by time, while providing greater flexibility in the amendment of the management plan. In addition, the obligation introduced regarding the electronic transmission of valuation reports in the Land Registry Law establishes a new operational obligation for financial institutions.
