What is the Title Deed ?
The title deed refers to the Decoupling of a real estate (house, land, building, etc.) is an official document certifying the right to property. In Turkey, these documents are issued and issued by the General Directorate of Land Registry and Cadastre. The title deed document determines who is the legal owner of a real estate.
It is not legally possible to own a real estate or buy a real estate without a title deed document. Also, the land registry document shows whether there are any mortgages, foreclosures or legal restrictions on the real estate, which is very important for buyers and sellers.
Especially during purchase and sale transactions, buyers should check the title deed of the real estate. The information specified in the title deed provides important details about the physical characteristics of the real estate and the ownership status. For this reason, the title deed is the most important document in real estate transactions and ensures that these transactions can be carried out legally and safely.
What are the Types of Title Deeds?
The situation that should be looked at first before buying a real estate is how the property you will receive is registered in the title deed. In our country, there are three types of title deeds: condominium ownership, floor easement and share deed. The type of title deed of the real estate that you own or will become directly affects the price of your property.
Condominium Deed
A condominium deed is a type of deed that documents the ownership right of each of the independent sections in a building separately and on its own. For example, independent sections, such as an apartment, office, store or parking space, can be bought and sold with a condominium deed. The condominium title deed gives the owner of the independent section certain rights both over his own independent section and over common areas.
The most important feature of the condominium deed is that the property is divisible. This allows multiple people to become owners of different independent departments in the same building. Also, a property with a condominium deed may be the subject of transactions such as a mortgage or foreclosure. Therefore, when buying or selling an apartment or office building, it is important to check whether there is a condominium deed. This determines your rights and obligations over your property.
Floor Easement Deed
A Decking easement deed is a type of deed that documents the right to use independent parts of a building that will be built on a plot or is under construction. This type of deed is usually used when a building is under construction and a condominium has not yet been established. A floor easement does not provide owners with a property right over a specific area, but provides for a specific right of use in that area.
A person who owns the floor easement deed has the right to transfer to the condominium deed certifying the full ownership right over this independent section after the construction process of the building is completed and the independent sections of the building are fully determined. That is, when the construction of a building is completed, usually the floor easement deed is converted into a condominium deed. This conversion process is carried out after the completion of the building and receipt of the necessary legal documents. During this process, the person with the floor easement deed must wait for the completion of the building and the determination of its independent parts.
Although Decking easement and condominium ownership are compared with each other, there are significant differences between them. A condominium deed usually refers to ownership in independent parts of a building, such as an apartment, while a floor easement deed refers to situations where the building is in the construction phase and a condominium deed has not yet been created. The person who has the condominium title deed is the sole owner of the independent section, but if the person has the floor easement title deed, he does not have full ownership rights, but provides for a certain right of use. That is, after the construction of a building is completed and the independent sections are determined, usually the floor easement deed is converted into a condominium deed.
Share Deed
The share deed is used in cases where the ownership of a real estate is jointly owned by more than one person. In the share deed, the share of each person on the property is indicated as a percentage. These shares usually determine the person's rights and responsibilities over the property.
For example, if there are three people's share Decrees on a plot of land, these three people will be the joint owners of the plot. The rights and responsibilities of each of them on the property are determined according to their shares specified in the share deed. The share deed has an important role in real estate purchase and sale transactions and in documenting the ownership right. The share deed is also used for the transfer of the property right. However, the transfer of shares cannot be carried out without the approval of all shareholders. Therefore, when buying or selling a property with a share deed, other shareholders must also be informed about the transaction and give their consent.
How are the Title Deeds Performed?
A person should act very meticulously during the title deed transactions process, because the smooth and complete progress of this process is of critical importance in the real estate purchase and sale process. These transactions ensure that the right of property is legally transferred from one person to another. If these transactions are not carried out properly, the ownership of the real estate may enter into a legal uncertainty.
During the title deed procedures, all rights, obligations and restrictions on the real estate are determined. Whether there are any mortgages, foreclosures or legal restrictions on a real estate is checked in this process. This helps to protect the buyer, because the buyer thus knows in advance about possible problems before buying the property. In addition, land registry transactions help the state maintain a general register of property ownership. This helps the state to make informed decisions on taxation, planning and other issues. Therefore, land registry transactions are of great importance for both individuals and the state.
Things to Do Before Land Registry Day Transactions :
• It should be clarified who will make the land registry fee and property tax.
* The title deed, file and the expenses to be made to the real estate agent must be paid.
• If a loan is to be used before purchasing the real estate, the loan amount should definitely be learned first and a loan application should be made with all the necessary documents along with a copy of the title deed. During this process, mortgage documents and information of the mortgage authority should definitely be obtained from the bank.
* Compulsory Earthquake Insurance (DASK) should be made or its validity should be checked.
* The fair price must be received from the municipality where the residence is located and the property tax must be paid.
* The owner of the title deed or the deputy of the title deed should apply to the land registry directorate with the necessary documents.
* Tuition payment should be paid according to the appointment information received by SMS.
Transactions to be Made on Title Deed Day:
* The buyer and seller must be in the title deed with their identity documents at the time of the appointment.
• If you are illiterate, you should go to the deed together with two people who are not related by blood to testify to you.
* The fee receipts paid should be given to the officer who makes the transaction.
• All buyers and sellers must sign the documents in the contract room.
• If you have used a loan, the loan opening documents must be signed at the bank.
Transactions to be Made After Land Registry Day:
• It is necessary to go to the relevant institutions to complete the invoice transactions.
• Property tax notification should be made by going to the municipality where the real estate you purchased is located.
• You should go to the population directorate for residence procedures.
Land registry and land registry transactions are of vital importance for the protection of property rights and proper purchase and sale of immovable property in our country. These transactions ensure an open and transparent communication between the parties, so that everyone is aware of the legal framework for property rights and transactions.Dec. The existence and importance of the title deed allows individuals, families and businesses to safely manage their property, plan their future and be under legal protection. Therefore, the correct and complete execution of land registry transactions is extremely important for the healthy functioning of property law.
What Do the Colors of the Title Deed Document Mean?
There are two different types of title deeds in Turkey, pink and blue.
Blue and pink colored land registry documents are the same in design and content, and they have the same rights. But their qualities are different. You can see these details in the title deed document.
What is the Blue Color Land Registry Document?
The blue colored land registry document indicates that the property has not been built yet or that its construction has just begun. Plots that have a blue title deed document indicate that condominium ownership has not yet been transferred, even if Deconstruction has been carried out.
What is the Pink Color Land Registry Document?
The pink-colored land registry document indicates that the construction of the property has been completed and that there are approved independent sections in the project, the areas of use of the property and the owner of certain shares. Pink colored deeds are given to properties that have been taken condominium ownership.
What are the Types of Title Deeds?
There are three different types of title deeds throughout Turkey. These types of title deeds are floor easement title deed, condominium title deed and share deed. In addition to the color of the title deed document, it is important to know these types of title deeds, which differ depending on the location or ownership of the Oct.
Types of Title Deeds and their Explanations:
Floor Easement Title Deed: It is established on the building under construction. Floor easement is established on buildings that have not yet started construction or are in the construction phase. This title deed is issued in order to show the shares of the rights holders who will buy apartments in the project in the plot.
Condominium Title Deed: It is the document that determines the property owner's rights over the real estate. It is the title deed established on the floors of a completed building, areas such as a cellar, a store.
Title Deed with shares: It is used when the value of immovable property is low. The number and names of the shareholders are indicated in this deed. Everyone has a share in a common ratio and the shares are determined by rıza-i taksim.
Before owning a property, it is important to find out the type of title deed of the property you want to buy and make your plans accordingly.
