|Monday, October 11, 2021
(Tabu) “title deed”
Completing the title deed procedures in Turkey
(Tabu) “title deed”: is the document that regulates a specific property, and proves the ownership of the property by the person mentioned in the document, and includes information about the property, and the real estate survey numbers, and specifies the location of the property, and this document is regulated by the Real Estate Registry Directorate of the Ministry of Environment And the Turkish cities, known in some countries as the real estate month.
There are several types of title deeds in Turkey:
First, the real estate easement deed “Kat Irtifaki”:
It is an incomplete title deed and is considered the first stage that must be carried out before obtaining the full title deed. The Arab buyer or investor obtains this title if the property has not yet been completed (under construction) and has not been formally delivered to the buyer. But the property must be registered in the records of the real estate department, its location and the number of each section of it and the original owner of it mentioned.
The easement deed is one of the common types of title deeds used by Arab real estate investors in Turkey.
As the purchase of real estate in its early stages of construction guarantees them the maximum possible profit in the property,
Because there is a regular increase in selling prices that occurs from the beginning of the first phase of any real estate project in Turkey until the completion of its construction.
Second, the full title deed “Kat Mulkiyefi”:
They are documents that record the ownership of real estate after the final completion of its establishment and designate the independent sections in them with obtaining approval to use each section separately. A full title deed of its own is organized for each section that proves the ownership of the owner of the bond over the independent section in the mentioned building.
Third, the transitional title deeds (participation bond):
It is a type of real estate title deed that proves the buyer's ownership of the property.
We do not recommend it to the Arab investor, because in most cases, the transitional title deeds (participation bonds) are for the old buildings that were built before 1999,
Most of these buildings were damaged by the 1999 earthquake and are subject to compulsory restoration works imposed on them by the Turkish government to strengthen the foundations and columns with them. We do not advise Arab investors to go for this type of building,
As for the new buildings built after 1999, participation bonds are not used as a purchase system.
In general, the participation bond is:
A deed that belongs to real estate that is jointly owned by more than one person, and each person has a certain share fixed in the deed.
Only one deed may be given showing the share of each joint buyer in the ownership of the property.
It is also possible for each buyer to give his own bond and write in the owner field the name of the owner of the bond with his share of the property.
Which proves the existence of partners in the property,
Transitional titles are common in holiday real estate.
The owner enjoys all the legal rights of sale, lease and assignment in the part allocated to him in the building.
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