As one of the most important information about buying a house in Turkey, we can show the ones about the Turkish Title Deed(TAPU) since the TAPU document contains data about the owner and the property. It is issued by the Land Registry Office And confirms that the property belongs to you. Significantly, having information about the title deed of the property you want to buy is important.
The process of obtaining a title deed is important for home buyers. For this reason, knowing how to obtain it, is essential. In relation to that, you can get support from your legal advisor or lawyer. If you are buying property based on a standard such as obtaining Turkish Citizenship by investment, the details are important. Standards must be correct in every way.
The official paper showing the owner of immovable property is called TAPU, issued by the General Directorate of Land Registry and Cadastre. The official document is given only to the owner of the property. This document is not given to people who have rights other than property (such as mortgage buyers). A red type of title deed is given for properties (flats) other than fields, land, gardens and plots. If more than one person is a shareholder of the immovable property, a title deed document showing all shareholders or each partner individually is given.
There are 2 types of title deeds in Turkey;
• BLUE TITLE DEED
• RED TITLE DEED
Blue and Red Title Deeds are given for different reasons and purposes. It is very important for understanding property ownership right. Limitation situations such as the presence of any mortgage on the Blue Deed are not specified.
It is a type of deed that refers to land deeds and common ownership.
– Land Ownership: If the title deed is blue framed, the property is a land. It refers that it has not passed into anyone’s ownership.
– Shared Ownership
Red Deed which is issued for residential or commercial properties refers to individual ownership. It is an important document that indicates whether it is a mortgage or not. In the document given, it is stated that there is a mortgage on the property. Also, the property right is shown on the TAPU document.
- Construction Servitude: Indicates whether there is a property right to on the land. Construction Servitude which is a type of title deed is prepared to indicate the rightful owners of a property and construction that has not yet been completed. It is the title deed document issued before the property ownership.
It refers that the Construction Project has been approved.
– Condominium: It is a legal definition that shows how you get your flat. If the title deed is a condominium type, the real estate does not have a legal housing problem. You can understand that the construction is completed in accordance with the legal laws.
It ensures that the property (apartment or commercial property) you purchase is constructed in accordance with the project.
– Shared Deed: If a property has a shared title, its value is low. It is the official document that shows the numbers and names of the shareholders. The shares of the shareholders in this document are not determined for the total area. It is not clear to whom it belongs.
If you are going to buy a property in Turkey, you should consult your lawyer or trustworthy sales consultant for a TAPU certificate. This situation is within the scope of the necessary controls during the steps of buying a house. It is important to look at the TAPU permission. The person who will buy the property should be checked by their counselor or lawyer to see if the property is in litigation or whether there is a mortgage.
After learning about the process the first thing you need to do is to prepare the required documents. You applied to the General Directorate of Land Registry and Cadastre which is connected to the region where you purchased the property. So, you must complete the required documents on the purchase of the real property. Also, you can get more information from your counselor.
The title deed fees or costs are calculated over the sales price declared in the title deed of the properties sold. It is calculated as 4% of the sales price. This fee is collected by adding the revolving fund amount to be added according to the 2021 regulation.
The Title Deed Fee varies depending on the real estate price. The real estate price is negotiated by the buyer or seller. It is paid in equal amounts by the buyer and seller. It is calculated over the real estate price declared to the Revenue Administration.
The Turkish Title deed fee is calculated over the real estate purchase and sale amount. During the purchase of a property in Turkey, you must pay for some transactions. Deed fees are included in some of the costs that both the seller and the buyer pays. It is calculated as 4% of the cost declared in the Land Registry office. It is calculated by adding the revolving fund price to this amount for the year 2021.
The Title Deed cost issued by the government is declared as 4%. Usually, the parties pay equally for the deed fee as 2% from the buyer and 2% from the seller. However, for some projects, 4% can belong only to the buyer.