Four main points about title deeds you need to know about before buying property in Turkey
Before embarking on the step of real estate investment in Turkey, many foreigners find themselves facing a number of questions, which increase with the increase of the desire to buy property in Turkey in order to live or invest or in order to gain the Turkish citizenship and benefit from the advantages of obtaining the Turkish passport, and one of the most important questions that come to the mind about real estate investment in Turkey, are related to the title deed of the property and its conditions, and its validity in order to avoid all forms of fraud that occur in the event of failure to choose a reliable company known in the Turkish real estate market that has a good reputation among foreign investors, similar to Alhuda Real Estate Company, which managed to gain the confidence of customers during years of experience in the real estate field in Turkey.
Below, we ask, instead of each person who wants to invest in real estate or buy property in Turkey, a set of questions related to the title deed known as the "Tapu" for the Turks, which is the only official document that proves the final and complete ownership of the property in Turkey and which every foreigner must check during transactions of owning the property.
Among the most important questions that every investor must know their answer before going on with the procedures for registering a title deed during the purchase of a property in Turkey we find:
Is translation of the passport necessary in the registration transactions of a title deed while purchasing a property in Turkey?
According to the Turkish law on identification in the land registration procedures for foreigners, that is, during real estate purchase transactions in Turkey, the translation of identity documents and passports is owned by the General Directorate of Real Estate Registration, where it becomes necessary if requested, especially for countries that do not write in the Latin alphabet, which means the necessity of translation to Turkish.
What documents are required while registering a title deed in Turkey?
While buying a property in Turkey, the investor must provide all of the ID card, i.e. passport, photographs, and also an Authorization in case he is unable to come to Turkey, and choose an agent instead to complete the registration procedures for the title deed.
Regarding the fees related to registering a title deed while buying property in Istanbul, it is calculated equally between the seller and the buyer and is estimated at 4% of the total value of the property, and it should be noted that this value has known a decrease as an exception, falling to 3% during the past year 2019.
Added to this is an additional fee for providing a title deed registration service when buying property in Turkey.
In case of 50/50 land ownership in Turkey, how will the separation take place so that each party gets its share in the future?
Articles 15 and 16 of the Zoning Law in Turkey, at the request of one of the parties,the separation of ownership of property in Turkey is allowed by presenting the identity document of the parties concerned, photographs and an Authorization if found, and a document clarifying the value of the real estate permit granted by the municipality in which the property is located, as well as an indivisible bond which is subject to submission if found, in addition to that the request for changing the property should include the monitoring report, as well as the attachment documents in groups of files prepared by specialized engineers and approved by the Real Estate Registry Directorate in Turkey.
Where can I get the inheritance tax?
An inheritance tax is a tax that is paid to the relevant tax authorities by virtue of the fact that Turkish law allows foreigners who own property in Turkey the right to inherit property, and any foreign investor can view its details and benefits in Article 6 of the Inheritance Law and granting tax.
Once the foreign investor wishing to buy a property in Turkey or obtain Turkish citizenship by investment in real estate in Turkey is able to identify the answer to the four detailed questions in our article then,he have achieved the most important transaction, which is to register the title deed of buying property in Turkey in a proper way and thus guarantee his complete ownership of the property.