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standard execution proceeding against the debtor and the debtor will
receive a “payment order”, which notifies that the asset will be sold
unless the debtor can pay the debt in 15 days or objects against the pay-
ment notice in 7 days. This proceeding allows the debtor to object to
the payment notice before the execution office.
In the second cae of “enforcement by foreclosure of mortgage”,
there will be two ways for execution proceedings which will differ
based on the kind of the legal documents and objection opportunities
granted to the debtor.
If the official document, known as an agreement table, which is
prepared by the land registry office and shows the degree of mortgages,
contains an unconditional acknowledgment of debt, then the creditor
may initiate the more secure execution proceeding and the debtor will
receive an “execution order”. In this proceeding, the debtor will be sent
notice that the asset will be sold unless the debtor can pay the debt in
30 days or can submit a decision for adjournment of execution.
If the agreement table does not contain an unconditional acknowl-
edgment of debt, the creditor may initiate the standard execution pro-
ceeding against the debtor and the debtor will receive a “payment
order”, which states that the asset will be sold unless the debtor can pay
the debt in 30 days or objects to the notice of payment due within 7
days. As it is seen, this proceeding allows the debtor to object to the
payment notice before the execution office. If the debtor objects to the
execution proceeding, the creditor must initiate a lawsuit to continue
the proceedings.
Bankruptcy Proceedings
For unsecured debts, the creditor may initiate an ordinary execu-
tion proceeding or a bankruptcy proceeding against the debtor.
In some cases, the ordinary execution proceeding may be ineffec-
tive and may end without obtaining a satisfactory result for the credi-
tor. Therefore, Turkish legislation allows the creditor to initiate a bank-
ruptcy proceeding against the debtor.
Where the creditor initiates a bankruptcy proceeding, the creditor
starts this proceeding by making a demand to the execution office
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