The preemption agreement

The pre-emption agreement is governed by both the Turkish Code of Obligations and the Turkish Civil Code. Contractual right of pre-emption is one of the contractual restrictions on property rights. The owner of the property right may allocate the right of pre-emption to the other party with a pre-emption agreement that complies with the ordinary written form requirement. In this context, the parties can make a qualified pre-emption contract in which other conditions, especially the pre-emption fee to be used, are specified, or they can also make an ordinary pre-emption contract in which only the right of pre-emption is granted. The non-annotated by the title deed pre-emption agreement has effect and results only between the parties to the agreement. In the pre-emption agreement annotated to the title deed, the right of pre-emption may also be asserted against the subsequent owners of the property. The pre-emptive event must take place in order for this right to be exercised after the contract has been validly established. Pre-emption events when the property -that is the subject of the agreement- is sold to a third party or subjected to some transactions similar to sales in economic terms. The right of pre-emption arising from the contract can be exercised through filing lawsuit. The contractual preemption right has to be used in three months as of the pre-emption event notification of the buyer or seller to the owner of the right; however, it has to be used in two years as of the conclusion of the sales contract in all circumstances. Pursuant to the definite decision of the court the property rights related to the immovable shall be transferred to the owner of the preemption right. Since the property will be transferred to the owner of the pre-empiton right by a court decision, the registration process that will be performed later in the deed is only declaratory. Keywords: The preemption right, the rights arisen from contracts, sale, the transactions in which the preemption rights cannot be exercised.