Steps to transfer ownership of the property in Turkey
How to transfer ownership of the property in Turkey. If you are planning to buy a property in Turkey, you should get enough information on various matters, including how to transfer ownership of the property in Turkey and obtaining the title deed (Tapu). And this is what we will talk about in this article from Ebla Real Estate.
What is the transfer ownership of the property in Turkey?
It is the official and legal transfer of ownership of the property from one owner to another.. Through the title deed (Tapu), which is a legal “proof of transfer” of real estate. The document also includes information on the property and the owner.
The General Directorate of Land Register and Cadastre (Tapu ve Kadastro Genel Müdürlüğü – TKGM) is in charge of the title deed registry and archive. Every city in Turkey has a title deed office run by TKGM. TKGM is a legacy institution from the Ottoman Empire to the fledgling Turkish Republic.
The title deed document allows the owner the right to dispose of the property in Turkey by leasing, selling or investing, and the owner cannot prove his ownership of the property without this document.
Procedures to transfer ownership of the property in Turkey :
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 country of origin, or the Turkish embassy located there.
After having gathered all the necessary documents for the application of the title deed, you have to submit them to the Land Registry and Cadastre Office. Then, the same office will give you an appointment for the final signatures.
Then both parties sign the title deed conveyance agreement, and finally.. The officer of the Land Registry and Cadastre Office gives the printed version of the title deed to the buyer.
Undoubtedly, Ebla Real Estate company will lead your purchase process to the ownership of your property by obtaining a Turkish title deed.
Documents required to transfer ownership of the property in Turkey:
- Buyer’s Tax Number (Vergi Numarası)
- Original and copy of the foreign buyer’s passport (a translated copy is also required).
- Appraisal report.
- Seller’s ID card or Passport.
- Rayic document.
- Earthquake insurance policy.
- Receipts for transferring the value of the property in Turkish lira from the buyer’s account to the seller’s account.
The cost of transferring property ownership in Turkey:
Regarding the cost of transferring the title deed (Tapu) in Turkey, according to Turkish law, from January 1, 2020 onwards, in transactions related to buying and selling, the total cost related to the title deed will be:
- The Turkish title deed transfer fee, often known as stamp duty tax, is 4% of the purchase price.
- The “Döner Sermaye” capital tax is estimated at 1,200 Turkish liras and varies from one city to another.
- The cost of issuing the real estate appraisal report is estimated at 5,000 Turkish liras.
This was the most important information related to the procedures for transferring property ownership, known as Tabu in Turkey.
For the best offers of real estate in Turkey and for any real estate services, do not hesitate to contact us.
Edited by: Ebla Group Real Estate
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