Secure Payment Era in Land Registry: Cash Transactions to End on July 1st

With this new regulation, the era of hand-delivering cash or direct transfers at land registry offices is coming to an end, replaced by a technological and protected "blocking" mechanism.

Sale Price Now Under State Guarantee

The core logic of the new system is built on protecting both the buyer and the seller until the transaction is finalized. The process will function as follows:

• Blocking Mechanism: Instead of sending the property price directly to the seller, the buyer will deposit the funds into a secure account designated by the system.

• Instant Transfer: The sale price will remain blocked in the system until the title deed registration is officially approved. Once the transaction is complete, the amount will automatically be transferred to the seller's account.

• Cancellation Policy: If the title transfer fails to occur for any reason, the blocked amount will be returned in full to the buyer.

Why Was This Decision Taken?

The primary motivation for bringing this model—which has been successfully implemented in second-hand vehicle sales—to real estate is to eliminate risks such as fraud, theft, and forgery. Additionally, it aims to prevent the physical risks associated with carrying large amounts of cash and to curb the unregistered economy.

Implementation Schedule and Extension Authority

The start date, previously targeted for May 1st by the Ministry of Commerce, has been finalized as July 1, 2026, to ensure the infrastructure works proceed flawlessly.

Critical Note: The Ministry holds the authority to extend this period by up to 3 months depending on the status of technical preparations. It is reported that integration efforts with the General Directorate of Land Registry and Cadastre have reached the final stage.

How Will the Process Work?

This system ends the "Money first or title deed first?" dilemma often faced by parties in the current setup. Buyers and sellers will participate in the system through contracted banks or payment institutions. As part of the application, a nominal service fee determined during the transaction will be collected.

With this new era, the days of walking through land registry offices with bags of cash are over, paving the way for a digitalized and trustworthy real estate market.