Real estate ownership in Turkey
In this artocle from Ebla Real estate, we will talk about real estate ownership in Turkey.
Real estate ownership in Turkey:
Turkey has become the world’s favorite destination, whether for tourism or investment purposes.
Owning real estate in Turkey is easy and is not subject to complicated laws. Moreover, it helps to achieve stability, and invest comfortably and legally.. Even for tourists, they own a property in Turkey to stay in it during vacations and holidays; that shortens a lot of trouble.
Based on the amended Article 35 of the Real Estate Law in Turkey.. Foreigners have the right to own real estate in Turkey, and with simple legal procedures, The property is transferred to the foreign owner through a legal document called Tapu in Turkey.. And this transaction is conducted, registered and documented in the directorates of the real estate registry in Turkey,
After obtaining the title deed, the property is officially transferred to its owner.
Conditions of owning real estate in Turkey for foreigners:
- The space of the property to be purchased in Turkey should not exceed 30 hectares.
- Moreover, the foreigner has to obtain security and military approval, if the property is close to the security or military areas in Turkey.
- Furthermore, the space of the property should not exceed 10% if it is located within an administrative area.
Transferring the real estate ownership in Turkey:
The property owner in Turkey must submit an ownership transfer request, after booking an appointment at the Land Registry Directorate,
The required papers to transfer the ownership in Turkey:
- Title Deed of real estate in Turkey (Tapu) for seller.
- A document contains the real estate appraisal report in Turkey.
- A document issued by the municipality that includes the value of the property to be purchased.
- Compulsory earthquake insurance policy for real estate in Turkey.
- A valid passport translated into Turkish.
- Personal photographs of the seller and buyer.
Purchasing real estate and transferring ownership in Turkey through the agency:
Agency issued by notary in Turkey or the Turkish embassy in the country of the buyer or seller. It is worth noting that the agency must contain a personal photograph of the owner.. And without the photograph, the sale or purchase can not take place.
In the event that the buyer is a foreign investment company, the company must obtain a document specifying the proportion of the capital from the Chamber of Commerce in Turkey, and then obtain approval from the Directorate of Planning in the province (the governor).
Fees and taxes of transferring the ownership of property in Turkey:
The ownership tax of property in Turkey is 4% of the total property value, bearing in mind that the buyers pay it only once.
In addition to an annual municipal tax and fees to be paid in the municipality to which the property belongs.
Abuses canceling the contracts of real estate ownership for foreigners in Turkey:
If the property is used for a purpose other than the main purpose of its purchase, the contract of sale is considered void in Turkish law. Additionally, bypassing the law in the procedures of property ownership, such as violating the standards of real estate appraisal makes the contract of sale null. Moreover, if the property is invested for some project, and the project has exhausted the duration and date of its implementation without taking actual steps to implement it.
Sell a property in Turkey:
If the foreign owner of the property wants to sell his own property earlier than five years after the purchase, and the sale number was higher than the purchase number.. The seller, whether foreign or Turkish must pay a profits tax for the amount that exceeds the purchase price.
Ebla Group Real Estate servicses:
Ebla Group Real Estate studies the specifications of the property to be purchased in Turkey.
Moreover, it studies the building standards, location and features, and determines its price.
Ebla Group Real Estate undertakes the procedures for obtaining the title deed (Tapu) with the client.
Furthermore, Ebla Group Real Estate carries out the procedures of buying and selling, within the legal systems and departments. Thus, with Ebla Group Real Estate, the buyer will not fall into problems, complications or errors that may cause him heavy losses.
Ebla Group Real Estate studies carefully the title deed before buying or selling to verify that it is away from suspicions and legal problems such as seizure, inheritance issues and loans.
In addition, Ebla extracts real estate ownership papers and documents, and works to translate and ratify them from the competent legal and administrative authorities in Turkey.
Edited by Ebla Group Real Estate
