Deed Obtaining Process in Turkey
Process of Title Deed Acquisition in Turkey
Deed Obtaining Process in Turkey
If you want to invest in Turkey and want to have detailed information about the title deed purchase process in Turkey, you are at the right address. We have prepared this guide for you, which will allow you to have detailed information about the deed processes. Now, let’s examine all the curious details about the title deed process in Turkey together.
People who will invest in real estate in Turkey conduct important research on land registry records. If you are among these people and want to invest in Turkey, you can review the detailed information we have prepared for you.
Documents Required for Deed
Real estate purchases and sales are completed with the realization of title deed transactions. To receive this service, the following documents must be prepared and submitted. The documents are as follows:
* One copy of ID card and ID
* Receipt paid for past debts with the letter of no tax debt received from the municipality
* The original or photocopy of the previous bill must be provided for purchase and sale.
• Payment of title deed fees and property tax must be made before the deed transactions. The title deed costs to be paid by the buyer and the seller in equal shares must be paid before the title deed.
* TCIP-Mandatory Earthquake Insurance must be taken out. If there is an existing DASK, it should be checked whether this insurance is on time.
• If the deed is to be made with a power of attorney, a notarized power of attorney is required.
First of all, you need to make an appointment with the Land Registry and Cadastre Office where the real estate is located. At the time of appointment, all buyers and sellers (or their proxies) at the deed must be present with their identification documents. For illiterate buyers and sellers, two witnesses should be brought without kinship. Receipts of paid tuition must be given to the officer performing the transaction. In the contract room, the sales documents must be signed by all buyers and sellers.
The most important process to be considered in this process is the declaration of title deed fee. Because in case of an incorrect or incomplete statement, both the buyer and the seller may face various penalties during the purchasing processes. At this point, it is of vital importance to be extremely careful.
When the appointment day and time comes, it must be present in the land registry office on both sides. It is useful to go to the land registry office about 15 minutes before the appointment time. With the complete completion of the documents, the title deed transfer process begins.
Title Deed Cost
According to a decision announced by the Council of Ministers on 05.05.2018, the amount of title deed fee, which is 4%, has been reduced to 3% in residences and workplaces with construction servitude and condominium ownership. The title deed fee reductions in question expired on 31.12.2019 and increased to 4% again.
This concept, known as title deed fee or title deed cost, is the amount calculated at the rate of 4% of the amount declared in the title deed for all real estate elements such as workplace, residence, land and field. This amount is paid to the state. In addition to the title deed fee, a revolving fund item amounting to 194 TL is collected in 2021 from the persons who operate in the title deed. The title deed fee is paid to the Tax Office today. In addition, contracted banks can also collect fees. At the same time, fee payments are made within the scope of the e-collection application at the land registry offices.
What Should Be Considered Before Going to the Land Registry Office?
As a buyer, you should not forget that there are some points that you should pay attention to before going to the title deed office for the real estate you are interested in. First of all, you can request a copy of the title deed. In this way, you can find out if there is any tax debt on the real estate. In addition, you can have information about whether the building is licensed and inhabited.
What Happens If Land Registry Fee Is Underpaid?
It is collected from the person transferring the immovable and transferring the real estate by deducting from the re’ calculated over the difference with the underpayment of the title deed fee and its delivery. At the same time, 25% tax loss penalty is imposed.
If you want to buy real estate in Turkey and get professional support in this regard, you are at the right address. By making the best use of the services offered by our company, you can gain a professional experience and invest in Turkey. All you have to do is contact us to get more detailed information about the title deed and the process of obtaining title deed in Turkey. Come on, start making your investments in the best way by contacting our company that offers you the best support.
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