Annotation of the Legal Transactions of the Joint Owners Concerning the Use, Utilization and Management of A Property

Abstract

The joint owners of a property can make legal transactions concerning the use, utilization and management of a property. These transactions can be contracts or decisions. When the joint owners cannot decide how to use or manage the property they can also appeal for a court decision. The most important legal problem is whether these decisions and contracts shall be binding for the new persons that overtake the joint ownership. Turkish Civil Code Article 695 stipulates annotation of the legal transactions in order to be binding for the new joint owners. The annotation of these legal transactions is a newly introduced institution within Turkish Civil Code number 4721. In practice there were many problems concerning the binding effect of the legal transactions between the joint owners in cases where the property is transfered. Article 689 and 695 were introduced to meet these needs. As in Turkish property law, the principle of numerus clausus is valid, and the legal nature of annotation should be clarified. In this essay the conditions and legal consequences of annotation shall also be examined.