What do you know about title deed fees in Turkey? This document is very important for anyone who wants to own real estate in Turkey, as it proves someone's ownership of a property in a part of the Turkish state, but how is it obtained, what are the fees that must be paid, and what papers must be prepared? This is what you will learn about in this article.
How much are the title deed fees in Turkey?
As stipulated in the Turkish constitution, 4% of the total value of the property must be paid equally by both the buyer and seller, but in many cases, it is agreed that the buyer bears it in full.
How to obtain the title deed document in Turkey?
Obtaining a title deed document in Turkey requires adherence to some steps. First, the applicant must apply for this document at the Land Registry Office in his local area, and the applicant must submit his identification documents, such as a passport or identity card, along with the documents other required items such as proof of ownership of the property and tax payment receipts. After the application is approved, the title deed document will be issued to the applicant, and the title deed document must be kept safe.
Notes when extracting a real estate title deed in Turkey
If you are in the process of obtaining a title deed document for real estate in Turkey, you must consider these notes.
Make sure you have the most recent copy of the title deed and can obtain it from the Land Registry Office.
Verify the signatures of all parties involved in the transaction and ensure that it is legally binding.
Ensure all applicable taxes, fees, and other payments are paid in full.
Obtain an official stamp from the notary to certify the deed.
Submit the original title deed to the concerned real estate registry office for registration to complete the transaction.
The concerned person should come in person to receive it.
Someone may represent the person concerned under an official power of attorney.
Types of real estate titles in Turkey
There are several types of title deeds in Turkey. You must familiarize yourself with them if you wish to go through such an experience, and this is what we will talk about below.
First: the red title deed
In Turkey, a residential property title deed is known as a red title deed and provides legal proof of ownership of the property, indicating the name and legal status of the owner and also specifying any mortgage obligations or other restrictions associated with the property.
To issue a red title deed, all necessary documents must be submitted to the relevant authorities, and all applicable taxes paid. Once these steps are completed, the title deed will be issued to the owner.
Second: the blue title deed
The blue title deed is a document used in Turkey to register ownership of agricultural real estate. The title deed includes information about the owner, the size of the property, and other relevant details. It is issued by the Ministry of Agriculture and Forestry. It must be registered at the local land registry office. The blue title deed is an important legal document for real estate owners. agricultural in Turkey, ensuring the protection of their property rights.
Third: the full title deed
The title deed of the property in Turkey is a legal document confirming the ownership of the property by the owner. The title deed must be obtained from the Turkish Land Registry Office and contains details such as the owner's name, address, date of purchase, and description of the property.
It is important to note that a Title Deed is only valid if it is signed by both the seller and the buyer, as it is registered at the Land Registry Office. Furthermore, all taxes, fees, and other costs associated with the purchase must be paid before the Title Deed is issued and as such, it is necessary to obtain a Title Deed. When buying real estate in Turkey ensure legal protection of property rights.
Fourth: The joint title deed
The parties acknowledge that they have full ownership of the property and each party has an undivided interest in the property and the parties hereby agree to share equally in any profits or losses resulting from their ownership of the property.
Each party agrees to pay its share of all expenses related to the property, including but not limited to taxes, insurance premiums, repairs, maintenance, and improvements and any remaining expenses will be divided equally between the parties.
If one of the parties wishes to sell his share in the property, he must first offer it to the other party at an agreed price. If the parties agree to sell their share, they will divide any proceeds from the sale into equal shares. However, if one of the parties wishes to retain his right to the property He shall have the right to purchase the share of the other party at an agreed upon price.
The most important documents needed to own real estate in Turkey
In the following paragraphs, we will shed light on the most important documents that you must prepare when you want to own real estate in Turkey.
1 - An earthquake insurance policy that is obtained from one of the insurance companies in the country and an annual tax is paid for it. It is necessary as it guarantees the rights of real estate owners in the event of any natural disaster.
2 - The real estate appraisal document that accurately determines the property's price without any increase or decrease. Its advantages are many if it encourages foreigners to take the step of real estate investment in the country and prevents real estate fraud from occurring.
3 - The buyer must obtain a special tax number for it from one of the nearby tax departments, this matter is easy takes only a few minutes, and is also free.
These are the most important details that you should know about the real estate title deed in Turkey, fees, and other information, if you want to see more topics about the reality of the Turkish real estate sector, do not hesitate before you follow our website, as we are keen to monitor through it various related topics.
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