Real estate transactions in Turkey
Contracted Transactions – Types of Real Estate Sale in Turkey
To sell real estate in Turkey, the types are:
- Selling in person
- proxy sale
- custodial sale
- state sale
- forced sale
- joint selling
- Selling a Mortgage
- sell to foreigners
- Sell to more than one person
- Selling to the deaf and dumb
- Selling a property in Turkey is the process of transferring ownership of a property to another at a certain price, and with the sale process, the ownership of the property is transferred to the buyer by the owner at a certain price.
- The person who will request a real estate sale transaction in Turkey from the Land Registry Office is the owner of the property subject to sale or his representative.
- A property sale contract in Turkey is a type of contract that imposes reciprocal rights and debts on the seller and the buyer. In return for the buyer to pay for the property, the seller has the duty to transfer ownership of the property to the other party.
- The village, neighborhood, island, plot of land or the area of immovable property subject to sale must be specified in the official deed to be issued for sale.
- Real estate purchase and sale transactions in Turkey can be done at the land registry office in the area where your property is located, or if you live in another city, by going to the nearest real estate registry office.
- All land registry offices are authorized to act on behalf of each other. You can also carry out transactions abroad at the Directorate General of Land Registry and Cadastre at the Berlin Consulate.
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Buying a property with a loan
If the property was purchased with a bank loan, you must pay the title deed fee on top of the blank or actual transfer fee.
If part of the transfer fee is paid by bank credit and some is by cash or by bank transfer, all amounts paid in this way shall be charged and the fee shall be paid on this total.
- Contracted Transactions – Donation
A grant (donation), is one of the contracted transactions, is the transfer of ownership of a property to another without receiving a price or other compensation.
Forgiveness is an act of interpersonal disposition, in which a person transfers all or part of his or her property to another person without any obligation (regardless of the consideration).
The condition for donating a human being must be the age of majority (above 18 years and an adult).
- Contracted Transactions – Barter
Barter is the exchange of one good or property for another.
The advantage that distinguishes barter from selling is that it is not paid for for a particular good.
Any commodity can also be subject to a contract of sale by exchange. However there should not be any obstacle to the transfer and assignment of the objects subject to exchange.
The values of the goods to be exchanged in the transaction do not have to be equal.
If there is no equality between the values, the difference can be made by paying some money.
- Contractual Transactions “Partition”
Splitting is the process of sharing immovable property registered as joint or joint title deed, in order to terminate the partnership, so that at least one property per shareholder is reduced.
It is not necessary that the values of the immovable property shared in the division be equal. If there is a difference, most of the time, that difference is paid off against the equation. This fee does not need to be paid in advance. If not paid up front, a legal mortgage can be created.
If the number of immovable property is suitable to be divided into the number of stakeholders and the proportion of shares, it is divided equally. In the same section, each stakeholder purchases one or more fixed properties. The status of joint ownership of a part of the property or over the divided parts can be maintained if the stakeholders agree.
- Contracted Transactions – Attached Building
The right of easement (ground easement) established by the owner or joint owners of that land in accordance with the provisions of this law for independent parts of one or more buildings that are built under construction on land subject to land ownership,
Those who have these rights are called (the owner of the land easement).
The conditions for proving a building easement are as follows:
The main structure should not be one piece.
The partitions to be built must be independent.
The building easement must be established in the building to be fully built. It must be made at the exclusive request of the owners.
In the event that there is more than one owner, an official deed must be issued.
- Contracted Transactions – Floor Ownership
Floor ownership is the independent parts of a completed building suitable for use separately from floors, apartments, commercial offices, shops, stores, cellars, warehouses, etc., on behalf of the owner or co-owners of such real estate (a floor is a separate and new type of real estate that must be registered in the property registry) or (record of housing units)
- Contracted Transactions – Mortgage
Mortgage is the insurance of immovable property of any receivable that exists or has not yet existed, in return for a certain amount of money.
In other words, a mortgage is a security of immovable property of a debt that was born or is likely to arise in the future.
If the debt is not paid on time, the creditor has the right to purchase the property by selling it in execution.
Mortgage transactions find a wide range of applications today, and the reason for this is the large increases in immovable assets and the fact that immovable property fulfills its duty to be a strong collateral.
At the same time, the mortgage is the strongest among the receivable rights.
Because while it is possible to get rid of the debt by statute of limitations on some receivables, the statute of limitations does not work in a mortgage. In addition, since the mortgage leads to the existence of a personal receivable, if the mortgaged property is not sufficient for the debt, the creditor has the right to apply to other property of the debtor.
- Mortgage Certificate
After the transaction is completed and the mortgage is registered in the Land Registry, a mortgage document is issued showing that the registration has been made and handed over to the mortgage creditor.
A mortgage certificate is not a negotiable document, it only contains information about the registered mortgage.
A certified copy of an official deed issued as a mortgage document.
- Class in Mortgage
In immovable mortgages, mortgages are arranged in order of grades.
Mortgages that come after the first degree may have the right to take advantage of the free class if the parties request it.
Free class, is the mortgage right that has the right to move to the vacant class.
In order for the creditor to benefit from the free degree, the higher degree must be written off.
- Non-contract transactions
In some cases that require processing in the Land Registry, there is no need to arrange a contract.
It is these transactions that result in a declaration by one of the respective owner or rights holders.
These transactions that do not require a formal deed are called non-contractual transactions.
Non-contractual transactions are divided into:
- technically qualified
- legally qualified
- According to the comment