To buy a property in Turkey: useful information for investors. What terms you need to know before buying an apartment in Turkey. Assistance in buying real estate in Turkey.
When buying Turkish real estate, future investors have a lot of questions related not only to the choice of the apartment or house, but also to legal actions for registration of property and other details. It doesn’t matter if you want to buy a property for sale in Mahmutlar or off-plan real estate in Istanbul. So, we bring to your attention six words that are sure to be found in your documents and the meaning of which you need.
TAPU is a certificate of ownership
We will assume that you, being a buyer, have already chosen up a house and agreed on a deal. In this case, the seller must prepare a TAPU where the data is presented:
- Information about the property, as well as cadastral land plot address.
- Type of land plot under the building and its dimensions.
- Type of ownership: condominium, timeshare, as well as easement.
- Price (officially stated) in local currency – TRY.
- Ownership of sale items. There may be a land plot, residential or commercial properties.
- The area of land that passes to the new owner. It usually corresponds to the area of real estate.
- The exact address, including the house number, building, floor and apartment number.
- Information about the previous owners and their authority to renew ownership rights.
- Information about the new owner.
- Registration materials, due to which it will be possible to find all the original documents in Cadastral Office.
- The date of purchase and the registration number of TAPU of the previous owner.
- Seal and signature of a trusted specialist.
IPOTEK is a mortgage encumbrance and ICRA is a real estate arrest
If you are buying a property, you should make sure that it is not arrested. The best solution would be to entrust this procedure to specialists from a real estate agency.
The difference between IPOTEK and ICRA is as follows: mortgage encumbrance means that the client has not paid the loan to the bank until the end. But ICRA is already an encumbrance by a court decision, which means that the owner has a debt to the state.
ISKAN is a document on puttaing the property into operation
ISKAN is an important document. It is a kind of technical passport, which is a confirmation that the building complies with building regulations, and the municipality has accepted it into operation.
AIDAT is payment for real estate maintenance
The next term that you will definitely encounter when owning property in Turkey is AIDAT. These are utility bills. The size of AIDAT depends on the residential project and the services provided. Water is usually included payment for security, gardeners, cleaning, pool cleaning, monthly payments for electricity, water and gas. It is necessary to make a payment according to AIDAT without delay, since in Turkey, court proceedings are practiced and the apartment is disconnected from the provision of services after only three months of non-payment.
IKAMET is a residence permit
For owners of Turkish real estate, there is an opportunity to get a residence permit, which is called IKAMET in Turkey. So, if you have a TAPU, you can be issued a residence permit immediately for up to two years inclusive. Then you will be able to apply for a longer residence permit, and after living for five years you can obtain citizenship.
Our assistance in choosing real estate in Turkey
If you know legal laws and regulations, you will protect yourself from fraud and a failed transaction. To protect you even more, we recommend contacting a professional real estate agency, Turk Estate. The company is engaged in the selection of Turkish real estate, helps in the registration and translation of documents, and provides legal support and verification of real estate. Contact us and get the best offer for your individual parameters!