Attachment (haciz)
Finance, Capital Markets, Enforcement and Compliance
Attachment (haciz) is the taking control by the enforcement office, in enforcement proceedings conducted for a monetary claim, of as much of the debtor’s property, rights and receivables as will cover the debt, when the debt has not been paid on time. The debtor, as a rule, cannot freely sell or transfer the attached assets; when necessary, they are converted into money and the proceeds are paid to the creditor. The basic provisions are in Article 78 et seq. of Law No. 2004 on Enforcement and Bankruptcy (İİK). Property that the statute deems exempt from attachment, and the portion of salary and wages set aside for subsistence, are, as a rule, not subject to attachment.
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