STATUTE OF LIMITATIONS, PRECLUSIVE PERIOD, AND THE DIFFERENCES BETWEEN THEM

STATUTE OF LIMITATIONS:
This is an institution that allows a debtor to avoid paying their debt due to the failure to exercise their right to claim within the periods explicitly defined in the law. There are two types of prescription: acquisitive prescription and prescriptive prescription. A person who possesses another's property for a certain period can acquire ownership of that property if the conditions stipulated in the law are met. This is called acquisitive prescription. Prescriptive prescription is when the creditor's right to fulfill the debt is extinguished as a result of their failure to take action to acquire the debt within a certain period. Unless otherwise stipulated in the law, every claim is subject to a 10-year prescription.
PRESCRIPTION PERIOD: A
prescriptive period is the period during which the essence of a right ceases to exist if it is not exercised. Not only the enforceability of the right but also the right itself is extinguished. It is not possible to sue or interrupt a prescriptive period. However, prescriptive periods may be reserved in cases of force majeure and certain circumstances specified in the law.

DIFFERENCES BETWEEN PRECLUSIVE PERIODS AND STATUTE OF LIMITATIONS:
Preclusive periods can be raised through objections, while statute of limitations can be raised as a defense.
While preclusive periods can be considered ex officio by the judge, statute of limitations cannot. In contrast,
while the running statute of limitations can be suspended or interrupted in some cases, preclusive periods cannot be suspended or interrupted.

Intern Law Faculty Student

Mert Emir Balci