Article 150

Amended: 18/2/1965, Law No. 538, Art. 71

The debtor or the third person may raise an objection within seven days from the service of the payment order. However, the pledge right may not be made the subject of an objection. Where an action for the annulment of the mortgage is brought, the provisions of Article 72 shall apply by analogy.

Procedure and provisions for the examination of the objection:

Article 150/a: Added: 18/2/1965, Law No. 538, Art. 72

The provisions of Articles 62 to 72 shall apply to objections to the payment order. However:

1. If the mortgage has been given as security for an agreement such as a current account or a revolving credit, the enforcement court shall have the power to examine that agreement and other related documents and receipts in accordance with the principles in Article 68.

2. Amended: 2/3/2005, Law No. 5311, Art. 11 Where an appeal (istinaf) is lodged against the decision setting aside the objection, the provision of the second paragraph of Article 149/a shall apply by analogy.

Notification of tenants:

Article 150/b: Added: 18/2/1965, Law No. 538, Art. 72; Amended: 6/6/1985, Law No. 3222, Art. 18

If the pledged property is an immovable property that has been leased, the enforcement officer shall, upon the request of the creditor and without waiting for the enforcement proceedings to become final, also inform the tenants of the enforcement proceedings and order that the rents falling due be paid to the enforcement office. Added sentence: 17/7/2003, Law No. 4949, Art. 42 However, proceeding in this manner shall not extinguish the rights under Articles 132 and 135. If the tenant does not deposit the rent with the enforcement office despite the warning, the provision of Article 356 shall apply to him by analogy.

Notification of the land registry administration:

Article 150/c: Added: 18/2/1965, Law No. 538, Art. 72

The enforcement officer is obliged to notify the land registry administration that enforcement proceedings for the conversion of the mortgage into money have commenced. The land registry officer shall annotate this matter in the register of the immovable property. No enforcement order or payment order shall be served on those who acquire the immovable property after the date of this annotation.

Preparations for sale:

Article 150/d: Added: 18/2/1965, Law No. 538, Art. 72; Amended: 9/11/1988, Law No. 3494, Art. 23

Upon the request for enforcement, the enforcement office shall commence the preparations for sale. For this purpose, it shall obtain copies of the entries from the land registry and the zoning status from the municipality, and shall have the valuation carried out without waiting for the enforcement proceedings to become final.

III – COMMON PROVISIONS

Time limit for conversion into money:

Article 150/e: Added: 18/2/1965, Law No. 538, Art. 72

Amended first paragraph: 2/7/2012, Law No. 6352, Art. 32 The creditor may request the sale of a pledged movable within six months, and the sale of a pledged immovable within one year, from the service of the payment order or enforcement order.

If the sale is not requested within the time limits set out in the paragraph above, or if the request is withdrawn and not renewed within these time limits, the enforcement proceedings shall lapse.

The provision of paragraph 2 of Article 78 shall also apply by analogy to enforcement proceedings by way of conversion of the pledge into money.

Provisional certificate of pledge deficiency:

Article 150/f: Added: 18/2/1965, Law No. 538, Art. 72

If, according to the value assessed and finalised after the creditor's request for sale, it is established that the pledged property will not cover the claim, the creditor shall, upon his request, be given a provisional certificate of pledge deficiency for the amount remaining uncovered.

On the basis of this certificate, the creditor may request the enforcement officer to attach other property of the debtor and may participate in the attachments of other creditors in accordance with the principles in Article 100. In this case, the creditor shall receive the part of his claim that could not be collected as a result of the sale of the pledged property from the other attached property of the debtor without priority.

Procedure for conversion into money:

Article 150/g: Added: 18/2/1965, Law No. 538, Art. 72; Amended: 9/11/1988, Law No. 3494, Art. 24

The third paragraph of Article 92, Articles 93, 96, 97, 97/a, 98 and 99, and the provisions of Articles 112 to 137 shall apply by analogy to the pledged property whose sale is requested.

Where the claim or the pledge has been established by a court judgment:

Article 150/h: Added: 18/2/1965, Law No. 538, Art. 72

Where the claim or the pledge right, or both, have been established in a court judgment or in documents having the nature of a court judgment, the provisions on the enforcement of court judgments shall apply by analogy.

Mortgages taken to secure cash credits and non-cash credits operating in the form of a debit current account or of short, medium or long-term credit:

Article 150/ı: Added: 9/11/1988, Law No. 3494, Art. 25; Amended: 17/7/2003, Law No. 4949, Art. 43

Even if the mortgage deed of contract submitted by the party extending a cash or non-cash credit operating in the form of a debit current account or of short, medium or long-term credit does not contain an unconditional and unreserved acknowledgment of a monetary debt, where the party extending the credit submits to the enforcement director a notarised copy showing that the account statement relating to the closing of the current account belonging to the party using the credit or to the acceleration of the short, medium or long-term credit account, or the claim for indemnification due to the payment of the non-cash credit, or the warning relating to the payment of the debt, has been served on the party using the credit through a notary by being sent to the address written in the credit agreement or indicated in the mortgage deed of contract, or is deemed to have been served pursuant to Article 68/b, the enforcement director shall proceed in accordance with Article 149. However, the right of the party using the credit to file a complaint with the enforcement court, by proving that he objected through a notary to the account statement and the warning relating to the payment of the debt, or to the claim for indemnification due to the non-cash credit, within eight days from the date on which it was served on him or deemed to have been served pursuant to Article 68/b, is reserved. In this case, if the party extending the credit is able to prove its claim by other documents within the framework of Article 68/b, the complaint of the party using the credit shall be rejected. During the examination conducted in the enforcement court, no decision to stay the enforcement proceedings may be rendered unless the debtor submits an official document, or a document whose signature has been acknowledged, showing that the debt has been extinguished or deferred. The service, or deemed service, of the account statement, the claim for indemnification or the warning on the third person owning the mortgaged immovable property shall take the place of the demand for payment provided for in Article 887 of the Turkish Civil Code.

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