LAND TRANSACTIONS
It covers the legal processes regulating real estate transactions such as title deed transactions, real estate purchase-sale and ownership changes. Land registry procedures are carried out by the General Directorate of Land Registry and Cadastre of the Republic of Turkey. Here is some basic information about title deed transactions in Turkey:
What is title deed?
Title deed is the official document proving the ownership and ownership status of a real estate. In Turkey, land records are kept by the General Directorate of Land Registry and Cadastre. The title deed of a real estate shows the ownership right in your name.
What Does Land Registry Procedures Cover?
Title deed transactions in Turkey include various transactions such as:
- Buying and selling real estate: Buying or selling a real estate is the most common form of title deed transactions. After a sales contract is made between the seller and the buyer, the relevant transactions are carried out at the land registry office and the title deed is transferred.
- Inheritance and sharing transactions: In the event of a person's death, it may be necessary to share the ownership shares on the title deed among the heirs. Court decisions or inheritance agreements may be required to resolve disputes between heirs and transfer title deeds.
- Condominium facilities: Title deed transactions of buildings consisting of more than one independent section include regulations regarding condominium facilities.
- Mortgage transactions: In case a property is mortgaged, the relevant mortgage document is recorded in the land registry. The mortgagee can take the real estate as collateral in case the debt is not paid.
- Grant and donation transactions: If real estate is donated or donated to a person or organization, title deed transfer transactions are carried out.
How are title deed transactions carried out?
Land registry transactions are carried out at the relevant land registry office. The processes include the following steps:
- Application to the land registry office: For title deed transactions, you must apply to the relevant land registry office. The documents and procedures required for application may vary depending on the type of process. For example, documents such as title deed, identity card, and sales contract may be requested for sales transactions. You can apply by going to the relevant land registry office in person or online.
- Determination of title deed value: In title deed transactions, some taxes and fees are paid based on the value of the real estate. The value of real estate is determined by the land registry office. Relevant taxes and duties are calculated based on this value.
- Title deed contract: A contract is made between the buyer and seller regulating the title deed transactions. In this contract, the identity information of the parties, the characteristics of the real estate, the sales price, the payment method and other important conditions are specified.
- Title deed transfer: The title deed transfer process is carried out at the land registry office. Upon completion of the relevant documents and payments, the title deed is issued in the name of the buyer. After the title deed is transferred, the buyer officially becomes the owner of the real estate.
- Payment of title deed fees and taxes: Title deed fees and taxes such as VAT (Value Added Tax) required for the title deed transfer are paid. These amounts may vary depending on the value of the property and other factors.
- Title deed document: After the title deed transfer is completed, the buyer is given a title deed certificate. This document officially proves the ownership of real estate and shows the right of ownership.
Title deed transactions are complex and processes can vary depending on the transaction type and situation. Therefore, you can give power of attorney to our company to carry out title deed transactions. We would be happy to welcome you in our office while your transactions are being processed.