How to transfer real estate ownership in Turkey according to the latest law

The transfer of real estate ownership in Turkey is an important issue that requires accurate knowledge of the laws and legal procedures related to this matter, and in recent years new laws have been adopted aimed at facilitating and simplifying the process of transferring real estate ownership, which constitutes an important step in enhancing confidence and investment in the real estate sector in Turkey.

What is the concept of transferring real estate ownership in Turkey?

Transfer of real estate ownership in Turkey refers to the process of transferring property rights to a property from one person to another and this includes the transfer of the full ownership right to the property or a certain share in it, whether it is a sale of the property, donation, inheritance, exchange or any other process that leads to a change in the legal owner of the property.

In Turkey, the transfer of real estate ownership is regulated by applicable laws and regulations, and the process requires compliance with specific legal procedures to ensure the safety and validity of the real estate transaction, and this regulation aims to provide legal protection to the parties to the transaction and to ensure the safety of their property rights.

Necessary documents when transferring real estate ownership in Turkey

1. A tax number in the name of the property buyer.
2. Bank account number.
3. A valid passport.
4. A copy of the passport translated into Turkish and certified by the Turkish Notary.
5. The real estate purchase contract signed by the buyer and seller and certified by the notary.
6. Receipts for the sale of foreign currency to the Central Bank of Turkey.
7. Receipts for transferring the value of the property in Turkish lira from the buyer's account to the seller's account.
8. The real estate appraisal report, which must not be more than 3 months old.
9. Personal Photos.
10. Earthquake and natural disaster insurance known as "dask".

Information and caveats before transferring real estate ownership in Turkey

Before starting the process of transferring real estate ownership and investing in real estate in Turkey, there are important notes and tips that must be taken into consideration, and you may need the help of specialized agencies to help you manage your transactions and avoid legal problems.

In the beginning, the property that you wish to invest may be limited by reservation, mortgage, confiscation, or other restrictions, and this information may not be mentioned in the title deed, so you must make sure that the title deed is registered in the real estate registry and whereas, any deed that is not registered in the real estate registry, even if it is certified and signed, is void and has no value.

You should also be careful when concluding purchase and sale transactions with the notary, and ensure the validity of the bond in the real estate departments before completing the purchase and the real estate appraisal report (real estate appraisal) must also be submitted to the Title Deed and Land Registry Directorate before the sale date and this report is prepared and provided only by specially licensed appraisal firms.

You must also pay compulsory earthquake insurance, which can be provided by any private insurance company registered in Turkey.

With regard to real estate projects that have not yet been completed and do not have ready title deeds available, an initial contract known as the "promise to sell contract" can be concluded with the notary public.

What are the cases of cancellation of real estate ownership transfer in Turkey?

You must be careful in using the property for purposes other than those stipulated in the sale contract, as if the property is used for commercial purposes instead of housing, the competent authorities have the right to cancel the sale contract and therefore, the contract is void, as for example, if the property was purchased for residence and later used for commerce, the sale contract will be considered void.

We should also note that the contract of promise to sell, and future sales contracts, which also include the sale of real estate on the plan and the sale of the property by installments, and other forms, are usually documented in the notary office, and are used in unfinished real estate projects and in the event that the initial sale contract (the promise to sell contract) is not completed through an official written form and certified by the notary (notary), the contract is considered null and void from a legal point of view and consequently, this contract will not have strong effect before the courts in the event of a breach of the original agreement reached in the contract.

What is the time period for completing the real estate ownership transfer process in Turkey?

The property transfer transaction in Turkey can be completed within a short period of one to three days, after accepting the request to register the ownership of the property submitted by the buyer and the purchase and transfer process is fast and efficient.

What are the costs of transferring real estate ownership in Turkey?

The Turkish government imposes specific fees on the Tabu records, to be paid after the sale or purchase of real estate and it is not possible to transfer ownership of the property in the Tabu records from the seller to the buyer before paying these fees and the buyer must pay 4% of the total sale price to the Land Registry and Land Registry Directorate as official transaction fees.

According to the main rules, this fee is divided between the buyer and the seller at the rate of 4% of the price of the property to be sold and these fees are distributed between the two parties and must be paid in full prior to transfer of ownership of the property and however, an agreement can be reached between the parties to change the distribution of this percentage.

In fact, in practice, sellers usually take full responsibility for paying the 4% on new buyers.

Common questions

Is it possible to transfer real estate ownership to non-Turks?

Yes, foreigners and foreign companies can own and transfer real estate property in Turkey according to the current laws.

What are the restrictions related to the purchase of real estate by foreigners in Turkey ?

There are restrictions regarding the purchase of real estate in certain areas such as border areas and military areas.

Are contracts documented in English in Turkey ?

Real estate contracts in Turkey are usually in Turkish, it may be necessary to translate the contract into English if one of the parties is not Turkish speaking

The idea of ​​buying real estate in Turkeyhas become popular among those interested in obtaining an ideal opportunity for housing or investment and take advantage of the appropriate real estate investment options in Istanbul to obtain a high return by communicating with our real estate consultants.

Do not forget that investing in real estate in Turkey is only a way to gainTurkish citizenshipor real estate residence permit that allows you to stay in the country legally and then acquire many of the privileges that a Turkish citizen gets.

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