Steps to transfer property ownership in Turkey and the required documents

The significant increase in real estate investment operations in Turkey is due to the facilities and advantages Turkey offers to foreign investors in real estate in Turkey, and the benefits that these investments bring to their owner, and in the interest of the Gars Consulting Company to inform you of the most important legal issues of real estate ownership in Turkey, we will discuss how to transfer property ownership in Turkey.

What does transferring property ownership in Turkey mean?

The transfer of real estate ownership in Turkey means to transfer the legal ownership of a property to a new owner, where the process of transferring real estate ownership is carried out through the title deed, which is signed and duly registered in the directorates of the real estate registry in Turkey.

The title deed is the document that proves the ownership of the property by the legal owner, and bears the owner’s name and photo, the type of property, and its location, in addition to its area, detailed and archived information about it.

The (Title Deed document) grants the owner the right to dispose of the property by renting, selling, or investing, and the owner cannot prove his ownership of the property without this document, which is granted by the Land Registry Directorate of the Ministry of Environment and Turkish Cities - known in some countries of the world as the real estate registry. The title deed is registered and kept in the records of the Title Deed Directorate.

When you buy a property on Turkish lands of any kind, the title deed is the official identity for this property, and once this document is granted by the Land Registry Directorate of the person, the person's possession of this property is officially proven, and this document is also requested in some official and governmental departments. In carrying out transactions related to real estate, such as buying, selling, and others.

This, and several people can own and participate in one property, and there is no specific number of owners.

We mention in this context, that if you have a percentage of a property, or partners in the property that you own, it is possible to mention the percentage of each person from the property in the title deed, and the owners are partners in the entire property, meaning that there is no specific part or allocated to a person from the property.

The title deed document is given to one person only and copies of it are not given to several people, and it contains detailed information about each person's share of the owners.

What are the documents required to transfer property ownership in Turkey?

With regard to transferring ownership of real estate in Turkey, it is necessary to take some steps to obtain the title deed, including the following:

1. The buyer of the property must come to Turkey to conclude the purchase contract transaction, or to appoint a trusted person to act on his behalf, through an official agency from the consulate of the mother country, or the Turkish embassy located there.
2. Getting a tax number from the tax department, given based on the buyer’s passport number, with a copy of his passport translated and certified by a Turkish notary.
3. After completing these steps, the seller of the property will go to the Land Registry Department so that the seller will waive the property to the buyer.
4. Then the new buyer receives his title deed.

Documents required to obtain the title deed

• A copy of the buyer's personal identity card, or the official agency paper in the event that the buyer has authorized a representative on his behalf.
• A personal photograph of the seller, and two photographs of the buyer.
• Documents from the bank in case of taking a bank loan.
• The real estate registry document.
• An insurance policy against earthquakes and disasters.
• The common allowance document from the municipality to which the property belongs.
• Real estate appraisal document (for foreigners).

Costs of transferring property ownership in Turkey

The Turkish government imposes certain fees on the title deed to be paid after the sale or purchase of real estate, and it is not possible to transfer the ownership of the property in the title deed records from the seller to the buyer without paying these expenses, as 4% of the total sale price must be paid to the title deed directorate and the land registry for official transaction fees.

According to the main rules, these fees are divided between the investor (buyer) and the seller, so that the title deed fees are calculated on the basis of 4% of the price of the property to be sold, distributed among the sellers, and these fees are paid in full before transferring the ownership of the property. If it is agreed between the two parties to change this participation, this will be possible.

In fact, practically, sellers usually impose full responsibility for the 4% payment on investors (new buyers).

Important notes and tips before you start transferring ownership

• When owning and investing in Turkish real estate, you may need assistance of competent authorities to help you manage your transactions in order to avoid getting into legal problems. The property you want to invest may be subject to restrictions of seizure, mortgage, confiscation, or other; This information is not mentioned in the title deed.
• The title deed must be registered in the real estate registry, and every deed is not registered in the real estate registry, even if it is certified and signed, it is void and has no value.
• Caution must also be taken when concluding sales and purchases at the notary, and verify the authenticity of the bond in the real estate departments before completing the purchase process.
• A real estate appraisal report (real estate appraisal) must be submitted to the Title Deed and Real Estate Registry Directorate before the sale date, and this report can be prepared and submitted only by specially licensed appraisal companies.
• Compulsory earthquake insurance which can be provided by any private insurance company registered in Turkey should be paid.
• For real estate projects that have not been completed, and are not yet ready for the grant of title deed; it is possible to make a preliminary contract known as a “promise to sell contract” with the notary public.

A promise to sell contract is only a preliminary agreement, which allows a person to demand that the property be sold to himself at some point in the future, so this agreement does not enable the transfer of ownership of the property immediately.

It is noted that during the signing of such a contract, a fee of approximately 7 per 1000 of the total sale price must be paid to the notary.

The time needed to complete the transfer of ownership of the property

On average, the process of transferring ownership of real estate in Turkey takes from one to three days. After accepting the application for registration of ownership of the property submitted by the buyer, the process of buying and transferring ownership does not take more than a day.

Mistakes of transferring property ownership in Turkey for those wishing to obtain Turkish citizenship

There are many mistakes that those wishing to obtain Turkish citizenship in exchange for a property can make, the most important of which are mentioned in our article 10 common problems related to obtaining Turkish citizenship through investment.

We also point out that anyone who provides false information to the title deed exposes himself to a heavy financial penalty, as well as anyone who does not pay the title deed fees in full.

To ensure that no mistakes will be made when transferring the ownership of the property, we recommend dealing with experienced lawyers on how the procedures are carried out in the title deeds registration offices.

Cases of cancellation of ownership transfer

• If the property is used for a reason and purpose other than what is mentioned in the contract, the competent authorities will cancel the sale contract, meaning that if the property was purchased for housing and later used for trade, the sales contract is void.
• As for the promise to sell contract, or the forward sale contract, which also includes off-plan sales contracts, the sale of real estate in installments, and other aspects, which are usually installed at the Notary office, which are used for unfinished real estate projects. If the initial sale contract (the promise to sell contract) is not executed through an official written form, and through the notary (the notary), the contract will be technically void; therefore; this contract will not have a strong impact on the courts in the event that one of the parties breaches the agreement stipulated in the original contract.

How does Gars Consulting Company help you complete the transaction of transferring ownership of the property as a seller or as a buyer?

"Gars Consulting Company" provides all real estate registration services in Turkey, whether - in the category of new real estate, or in the category of resale property - in accordance with legal principles.

Whereas, Gars Company has ample experience in procurement follow-up services, contract organization and auditing.

Gars Consulting Company also seeks to establish the sales contracts in their final legal form to the fullest extent, in order to protect the rights of its valued customers, as the company is fully aware of the requirements of government departments, and all the legal papers necessary for real estate ownership operations in Turkey, and its work team includes a group of jurists and professional experts.

 

Edited by Gars Consulting Company ©

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