Commercial Real Estate

What should I watch out for when taking over a business premises (devren)?

Answer

List in writing what the transfer fee covers (fixtures, machinery, stock, brand, customers).

For the lease to pass to the new business, Article 323 of the Turkish Code of Obligations requires the landlord's written consent; for commercial premises the landlord cannot refuse consent without a justified reason. The outgoing tenant remains jointly liable with the incoming tenant until the end of the lease, for a maximum of two years.

Before the transaction, also confirm that the business opening and operating licence can be issued in the new business's name and that there are no tax, social security or site management debts.

Updated: · İnterkon Realty Group

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