What is a Title Deed in Turkey?
Following an amendment that came in to effect in September 2018, foreigners who purchase a property worth a minimum of $250,000 USD can acquire Turkish Citizenship. This move is the first step, but perhaps the most difficult to some, to kick start the process of gaining their citizenship. Secondly, you will need to obtain a Title Deed. What is a Title Deed? Locally known as a “Tapu,” the title Deed is a legal document executed and acknowledged under the seal and in the presence of an official authority. It evidences the right of ownership to a property. By purchasing a property and receiving the title deed, foreigners can apply for the residency permit, or resell it later to receive profits on their investment. Yes, purchasing a real estate will make the entire residency permission procedure faster and easier.
To receive a title deed for a real estate, for example, the construction of the building should be completed for the government official approval. After that, you will be able to apply for a title deed. The approval process may take approximately 2-3 months. First, your application is sent to the Title Deed Office and then to The Turkish Military Head Office to check if the property is in a military zone or restricted area. This part of the process will be already checked by our experts before even you choose the property, to avoid any possible problems.
Until then, all of your rights on the property will be secured by your sales contract and Turkish regulations.
What are the different types of Title Deeds in Turkey? What does the Land Title Deed mean? Can a title deed be shared by more than one owner? What are the process and fees for getting a title deed in Turkey?
As Turkey Real Estate, we have prepared this post to guide you on different types of title deeds suited for your dream property!
TAPU
Tapu is the record that sets a specific property, establishing the property owner as the person mentioned in the report. It is the official Turkish name of the Title Deed document. The government approved document stores providing information about the property while setting the location of the property. This document is regulated by the Board of Land Registry and Cadastre.
The property deed shall be only given to the owner of the property (the legal owner), while the person(s) who own the rights in the property other than ownership (such as the mortgagor) are not approved by the document. If the property is owned by more than one person, a document is given to prove the share of each person in the property, and each may be given a unique certificate, that shows the share of the ownership in the property. The owner's name is written in the owner box with mentioning of their title and share.
What is the fee for a Title Deed?
The Title Deed Fee is the service charge collected from the citizen during the real property purchase and sale transactions. The transaction of the process cannot be carried out if the title deed fee is not paid. To start the process for title deed, an appointment must be made by the TAPU office and the fee must be paid before the appointment time, through a Turkish bank account.
Usually the cost of a title deed is the %2 percent tax of the price for the registered property. The initial property must be a minimum of $250.000 USD before taxes to be eligible for Turkish Citizenship in the first place.
Types of Title Deed in Turkey
Free Hold Title Deed
A free Hold Title Deed is a legal document that proves your full ownership of the property. The owner of the property has the full right to sell or transfer the property to another person following the legal ways. However, the freehold ownership is limited in a few countries by the Government. As per the property law, in real estate the free-hold ownership gets the highest interest rate that is possible.
Title Deed for Land Plots
A land is a property that is registered as an empty plot that is construction ready. The land must be located within borders by the reconstruction plan to acquire the status for reconstruction. However, having the status of the empty plot does not mean constructing a building. You must also create a project and apply for the building permit on this land. It is necessary to consider and check the municipality concerned about the status of the reconstruction.
There is always a possibility that the land may be near the road or in an area for a public park or a green area, etc. The properties which are described as a field is considered a land. or an Agricultural land, while still being registered as reconstruction approved location. If that is the case, the information should be shared by the concerned municipalities, so that the problem can be fixed.
Title Deeds for Real Estate
These are for registering the ownership right of an already constructed real estate (such as residences and apartments), and appoints the free sections in it with the approval of the use of each section separately. Each section is arranged for the full deed proving the ownership to the independent condos in the mentioned building.
Full Title Deeds
The full Title Deeds are documents that record the ownership of a project after it has been completed. The independent apartment houses are appointed with the approval of each section separately for all owners of a building. The ownership can only be evidenced by the independent section of the mentioned building.
The title deed for the agricultural land and land for construction is different in terms of the information contained therein. These documents include the number of the apartment, its location in the building, and its share of the land in development. If such information is missing on the Title Deed document, that means the property has not yet received its full title as a real estate property.
Partial Title Deeds
The ownership of these title deeds are transferable between multiple owners in the property for a certain period. The transitional ownership of the property is determined by a timeline of 7 to 15 days per year. The purchase of a property with the determination of the time use of this property is determined during the agreement process, which is generally common in summer condos for example. Each owner has all rights of ownership from the sale, lease, and waiving their right to a third party.
Final Words
When your purchase is approved, you will be taken to the Title Deed Office with a sworn translator to sign your freehold ownership documents. You also have an option to give a power of attorney to a lawyer to complete the process on behalf of you to save time and effort. Through these steps, you ensure that the purchase will continue without any problems.
