According to the explicit article stated in the relevant article of the Turkish Commercial Code that came into force after it was published in 2011, the bills expiring for 3 years expire after their debt by signing the bill. Although the debt timeout period is specified as 3 years in the specified law (a total of 4 years with 1- year enforcement proceedings) this period does not have much validity.

In addition to the timeouts specified in the promissory notes, there are articles that allow these timeouts to be extended. While this is the case, there is no action to save the debtor from his debt, but if some steps are taken, the timeout situation can be eliminated and the transaction time can be extended.

When does the timeout begin?

Although it is possible to sign a promissory note in return for a cash receivable after the purchase and sale transaction, the payment term of the promissory note is determined. The payment term specified after this promissory note has been started, and the time required for timeout has started from the last payment date.

The debt, which has not been paid within this period, has not been collected if it has not been enforced, but the expired debt is terminated with the expiration of the legal period. If there is a debt situation that has not been collected despite the execution, this period is extended with the new file opened in the Executive Departments and the existing debt does not end.

Is 10 Years Timeout Valid In The Bill?

The bills are not collectible. However, pursuant to Article 202 of the Law on Civil Courts, there is a probability of 10 years of general timeout in the Code of Obligations that you will receive as a result of the fact that the amount written in the bill is based on a material fact. In order to prove the receivable, in some cases, the witness may be asked to be heard.

Finally, in some cases, as well as the proof of service and material provision given in exchange for promissory notes, the amount you will receive can directly affect the outcome.

Those Who Have Received With Promissory Note Should Not Leave The Job To The Lawyer Only

Anyone who has a receivable against the bill receives the help of a lawyer to follow-up when it encounters the failure to pay the bill, and this is the best way to do it.

However, since the lawyers who deal with such cases are very crowded, and especially due to the increase in such cases recently and due to their intensity, the debt that was not paid due to their densities may go to renewal before time-out. It will be in your favor not to leave follow-up even if you have been given a lawyer to avoid such situations and be victimized.

What happens if someone who has a deed debt dies?

What happens if someone who has a deed debt dies?

In the event that the person borrowed in exchange for the bond or the person who vouches for the year dies before the debt is collected, this debt is transferred to the heirs. However, heirs have the right to accept this inheritance or not.

Although the time required for the rejection of this heritage is 3 months, the inheritable inheritance within 2 months is deemed to be accepted and responsibility for the payment of the debt remaining as an inheritance.