Personal property law

The state promises to subsidize the installments of financially challenged households for repaying their dues to their creditors by between 20 and 50 percent, whether they reach a settlement in court or via the out-of-court mechanisms to protect their main residence from repossession.

The noose is tightening around state and bank debtors, as the tax administration is getting ready to carry out asset confiscations and repossessions from some 1.6 million taxpayers by the end of the year, while banks are gearing up for a wave of property auctions that will be allowed following notaries' decision to that end.

By Dimitra Manifava

The Development Ministry appears unwilling to grant another extension to the implementation of a law protecting primary residences from repossession by banks over unpaid debts, as it believes that the legal framework dating from 2010 is sufficient to protect homeowners in financial difficulties.

Turkey’s social security body will make the payment for a prosthetic leg purchased by a veteran soldier, who had hit headlines after it was revealed that he was facing repossession of his property for failing to repay a loan he took out for the new prosthesis.

A veteran soldier who lost a leg in a terrorist attack is now facing repossession of his property for failing to repay a loan he took out for a new prosthetic leg.

By Evgenia Tzortzi

Data seen by Kathimerini concerning the course of home repossessions over the last five years show a 63 percent reduction, thanks to the protection of property by regulations regarding not only main residences but households’ assets as a whole.