Building completion insurance in prepaid housing sales contract

In the pre-paid housing sales agreement referred to as "selling from a model" "sell-build" in the market, the price of a residential property is paid by the consumer in advance or in installments; the seller undertakes to transfer and deliver the house after the payment of the price in whole or in part. In this type of sale, there is a risk that sellers will collect large amounts of Money from the market but not deliver the house to the consumer. Taking this risk into account, the Law No. 6502 on Consumer Protection obliges the seller to provide collateral. One of the types of collaterals considered in theseller's obligation to provide collateral in pre-paid housing sales contracts is building completion insurance. Provisions regarding building completion insurance are regulated by the General Conditions of Building Completion Insurance issued by the Undersecretariat of Treasuryin accordance with the article of 42/1 of the Law no. 6502 on Consumer Protection and entered into force on 16.03.2015. In the light of the General Conditions of Building Completion Insurance and other regulations in the legislation, there is no detailed study on building completion insurance. This thesis which is selected and written by considering this situation is very important in terms of being the first. In addition, the importance of the necessity of providing collateral for the elimination of the grievances experienced by consumers in pre-paid housing sales contracts increases the importance of our study. In our thesis, primarily, prepaid house sales contractand the obligation of the seller to provide collateral in prepaid house sales contract were generally discussed. In addition, in this study, the concept of building completion insurance, building completion insurance contract were examined and compared with other contract types, rights obligations of theparties, termination of the contract and dispute resolution methods were mentioned and finally this study was completed with conclusions and recommendations.