How To Get A Title Deed(TAPU) in Turkey
What does TAPU/ Turkish Title Deed mean?
TAPU or the Turkish Title Deed is a very important document which contains all the details pertaining to the ownership of the property. The document also contains information about the owner and the property as well.
It is paramount that home-owners understand what is essentially present in the deed transfer process along with its drawbacks. It is important to take advice from your solicitor so that all the mandatory checks are performed if the process turns out to be a sub-standard one. For instance, if you are buying a property in Turkey with the hopes of gaining the country’s citizenship.
The Company works with multiple lawyers, and attorneys all over Turkey, so we would be able to recommend a fitting executive for you. Plus, we also offer a comprehensive investment package which ensures that the transactions are carried out smoothly from start to end.
What are the different types of Turkish Title Deed?
This Tapu is created with respect to the title of the land as well as the shared ownership. Some of the facts are as given below,
- Land Ownership: Titles concerning the land would be set for that land and would not be applicable to other habitations.
- Shared Ownership: If there are several habitations on the Tapu, then the title would signify the total ownership you have over the property. For instance, if you have purchased house No. 3 in a composite set of 20 homes, then the title would refer that you have but one share out of the total 20. This basically decreases the autonomy of the owner over the property. Some home-owners might face difficulties when they have to make decisions based on the sale or with regards to property maintenance. These specific home-owners would not be eligible to take out a mortgage.
This title basically means that there would be sole ownership along with the unit present on the Turkish Title Deed. If we take the same instance, instead of house No. 3 is called as a share out of the overall development, a mortgage can be taken. The title for this freehold can be called as 'kat irtifaki' or another name 'kat mulkiyeti’ which is majorly used for residential or commercial. There would be a checkbox present in the form which will specify the category where your property is.
- Kat Irtifaki: Also known as construction servitude, and it basically means that the property is a work in progress. The title also displays the allocations of units in the development.
2.Kat Mulkiyeti: Considered that the initial process of development is finished, local municipal authorities would be checking the property with regards to the completion of construction. A license would then be granted, which is also called as the occupation license or Iskan. An Iskan would allow this title to up the ante and go a step further which is called as the Kat Mulkiyeti, or a full title deed. Once this is obtained, all the essential utilities can be connected. Once the owner gains this title, the property would have an Iskan (habitation license) that is issued from city planning department authorities. The Company encourages all the clients to take up this title, and we additionally ensure that it happens. Otherwise, home-owners would be left in a fix and might have to make do with sub-standard habitations, which would pose a problem in the future if you have to resell it.
Verification of the Turkish Title Deed
With respect to the mandatory checks that are conducted, the title deed clearance needs to be looked at. All the records pertaining to the charges, mortgages, and other limitations are mentioned in the deed itself. This can be carried out by the buyer, the attorney of the buyer, or if an authority holds the power of attorney.
How much does a Turkish Title Deed Cost?
There would be specific fees that involved concerning the deed transactions whenever the home-owner is buying or selling properties in Turkey,
- Turkish Title Deed Transfer Fee: Is also referred to as the stamp duty tax, and is at 4% of the cost price.
- Until 31st March 2019, it is set at 3% which is an interim cutback which can even be extended further.
- Whenever a Turkish Title Deed exchange is completed, the transfer fee can be then paid off. Usually, the seller declares the selling value, and the buyer pays up the fee.
Process of getting a Turkish Title Deed
- An appointment needs to be set at the office of the local title deed. The mandatory documents needed for the same would be identification card that has the photo and current active passport.
- Both the parties would agree upon a declaration value for the transaction thereby enabling the application of stamp duty. This would be paid by the client.
- Stamp duty would normally be paid using the wire transfer.
- The Turkish Title Deed would be signed by the seller, and the buyer would be receiving an acknowledgment receipt of the purchase consideration. This would even include a confirmation that the title is being transferred without any kind of compulsion.
- The buyer/client then signs up the Turkish Title Deed and accepts the title granted to him/her, along with the charges that come with it.
Turkish Title Deeds and Citizenship by Investment
If an individual is willing to invest an amount of $250,000 on a Turkish property, then he/she would receive the Turkish passport without any hitches. Whenever a client applies for citizenship at this condition, an amount would be placed with the title deed thereby hindering any Turkish Title Deed transfer (sale) for up to 3 years. Keeping this in mind, the Company recommends that all the investors who are keen on gaining citizenship of the country keep in mind, that the title is “clean" and devoid of any backlog mortgages.
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