Real estate legislation in Turkey ... With the "Zoom" technology
Language and law are among the most important coordinates that those who know about the hidden real estate market in Turkey advise foreign investors to know them, or at least familiarize themselves with them in principle so that the client is in the picture while communicating with sellers and owners of real estate projects.
The matter is very simple for the first coordinate “language”, where it is resolved with an interpreter. Here we point out that most real estate development companies provide this service. As for the second coordinate “the law,” the foreign investor must focus well on this issue because of its importance in clarifying the general vision about What is stipulated by legal legislation, that is, what are the limits that the investor must not exceed during the purchase of a property in Turkey.
Laws in Turkey have known constant updates by the legislative authorities of texts and legal materials and some amendments to items that have changed the course of foreign investment in Turkey and gave it a strong impetus, raising Turkey to the ranks of the strongest countries in the global real estate market.
Among the most famous and strongest real estate laws in Turkey is Article 35 of the Real Estate Registration Law No. 2644, which was amended by Law No. 6302, which applies as of May 18, 2012.
The law provides for the abolition of the condition of reciprocity for foreign investors who want to own property in Turkey by obtaining information from Turkish embassies and consulates in the countries from which they come from and its citizens can buy the property in Turkey or by reviewing the general directorates of the real estate registry and land registry across the various Turkish provinces.
The law also indicated that the same restrictions, conditions and legal procedures that apply to Turkish citizens apply to foreign investors in Turkey where a foreigner can buy any type of property "commercial stores, offices, homes, apartments, lands, villas, hotels ... and others"
This law has undergone amendments and additions, the last of which is obtaining Turkish citizenship in exchange for buying a property in Turkey with a value of only 250 thousand US dollars, after it was limited to one million dollars.
According to the legal systems in place in Turkey, the process of transferring the ownership of the property from the seller to the buyer takes place through what is called a "tapo" the title deed or a document of the full ownership of the apartment, house, or plot of land that the investor buys, as the property assets are registered with the Real Estate Registry Directorate in order to transfer the property Legal of the property from the current owner to the new owner, and there is another contract called a commitment contract for real estate under construction or whose dues are paid in installments, and this contract is signed by the seller and buyer at the Turkish notary, but this signature does not mean the final transfer of ownership, according to the fact that the authorities are in the country has identified a single document for the ownership of a "tapo".
Legal conditions for owning a property in Turkey
Legislative authorities in Turkey have established conditions for ownership of the property for foreigners, which we have summarized to you after careful reading of the various legal articles in the following points:
1. 30 hectares is the maximum property area that a foreign investor can own in Turkey.
3. Foreigners are prohibited from owning or purchasing a property in the prohibited places in Turkey, foremost of which are the military and security areas, which contain important historical relics.
4. Turkish law allows a foreigner to purchase land registered with the state as being suitable for housing in order to construct an architectural project on it, provided that his project is submitted to the willful ministry according to the nature of the property and the goal of building it within a maximum of two years.
5. Violation of the purpose of owning or building the property results in canceling the sale.
6. The property purchase contract is void in Turkey if it is done in violation of Turkish laws and regulations.
7. Electricity, water and gas meter must be registered on the buyer's name after obtaining the title deed.
8. Turkish courts are the only authorized party to resolve disputes between the sale of the property between the owner and the buyer.
Legal papers necessary for foreign ownership of property in Turkey
The initiation of procedures for purchasing a property in Turkey requires the submission of a set of documents, in which we detail:
i. The serial number of the property obtained from the Real Estate Registration Directorate in the region in which you want to buy a property.
ii. Deed of ownership of the property that contains detailed information about the apartment, house ... etc.
iii. The passport of a foreign investor who wants to own property in Turkey with a copy of it translated into the Turkish language.
iv. Real estate appraisal document for the house, i.e. its actual value, according to experts accredited to the Turkish state
v. Earthquake insurance policy
vi. A recent personal photo of the seller and the buyer, with dimensions 6 x 4
vii. Two witnesses to the signing of the contract
viii. Bring a sworn translator in case the foreign investor does not understand the Turkish language
ix. Bring the original and translated copy, certified by a Turkish notary in the event of a power of attorney from one of the parties to the contract.
