Yacht Escrow & Safe Purchase Turkey
Independent Fund Holding · MOA · Title Transfer · Maritime Law
Yacht Escrow &
Safe Purchase Turkey
The risk in any yacht transaction concentrates at one moment: when you release funds before you have clear title. A properly structured escrow eliminates that risk entirely.
How Escrow Works in a Turkish Yacht Transaction
1
Memorandum of Agreement (MOA)
Purchase agreement drafted in English and Turkish. Sets out price, survey period, deposit amount, closing conditions, and dispute resolution. We prepare or review the MOA.
2
Deposit into Escrow
Typically 10% of purchase price. Funds held by an independent account, not the seller, not the broker. Released only when all closing conditions are satisfied.
3
Title Search
Harbour master records checked for ownership, mortgages, arrest orders, and administrative penalties. No surprises after you own the boat.
4
Survey & Acceptance
Buyer commissions independent survey by an ABYC Professional Member. Material defects found: renegotiate, require repair, or withdraw with full deposit returned. Escrow protects this right contractually.
5
Simultaneous Closing
Funds released to seller at the exact moment title transfers to buyer. Bill of Sale signed. Deregistration from old flag initiated. New registration begins. Both parties confirmed same day.
Why this matters especially for overseas buyers
Many yacht transactions in Turkey are conducted informally, a signed paper, a bank transfer, a handshake. For a foreign buyer with no local legal standing this is a significant unhedged risk. A properly structured escrow and MOA gives you full contractual protection under documented Turkish maritime law with clear remedies if the deal does not close as agreed.
Frequently Asked Questions Do I need a Turkish bank account? +Not necessarily. Many foreign buyers wire funds in EUR or USD to the escrow account directly from their home bank. We advise on the optimal structure for your jurisdiction. What if the seller refuses escrow? +Well-advised sellers understand that escrow protects them too, it demonstrates the buyer is serious and funds are real. A seller who refuses independent escrow on a significant transaction is a yellow flag worth discussing with us before proceeding. What language is the MOA in? +Both English and Turkish, as bilingual originals with equal legal standing. Stamp tax on Turkish-signed documents is addressed structurally in the MOA drafting. Can you act as the escrow holder? +We work with established escrow agents and maritime lawyers. For transactions under €500K we can recommend straightforward structures. For larger transactions we partner with maritime law firms with dedicated client accounts.
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