You Sold Your Home but Have Not Been Paid: What Are Your Options?
This article provides general information. Legislation, time limits and amounts may change over time; obtain an up-to-date assessment of your specific situation.
YOU SOLD YOUR HOUSE, BUT DID NOT RECEIVE YOUR MONEY! WHAT LEGAL AVENUES ARE AVAILABLE?
Attorney Gizem Gonce explains: Things to consider against payment disputes in real property sales.
Disputes between parties regarding payment terms in real property sales can cause serious financial losses. Especially in cases where the full purchase price is not paid or payment commitments are not fulfilled, legal proceedings come onto the agenda.
What can a person do if they have sold real property but cannot obtain their money?
Attorney Gizem Gonce:
First of all, the conditions under which the sales transaction was executed, whether title deed transfer took place, and payment documents must be examined.
In the event of failure to fulfill the payment obligation, enforcement proceedings or litigation may be initiated to collect the debt, depending on the nature of the case. However, outcomes such as revoking the title deed transfer do not arise automatically; the relevant legal conditions must be evaluated separately for this.
Are bank receipts and written agreements important?
Yes. Bank receipts, correspondence, payment schedules, and official transaction documents can be important evidence in resolving the dispute. For this reason, retaining documents and conducting transactions in a manner that is as traceable as possible is important.
Clearly establishing payment terms and retaining documentation in real property sales are important in potential disputes.