Real Estate in Turkey is a very attractive business venture that continues to attract more people. One of the most important departments in the Turkish real estate industry that have made the market very likeable is the Turkish Title Deed Department.
They make it possible for foreigners to easily apply for their residence visas as soon as they get their title deeds.
Title Deeds in Turkey
In Turkey, people who buy a house are given what is known as title deeds. In the country, this is known locally as “TAPU.” What this means is that this is an ownership document that is awarded to a property buyer. With this document, you are given legal status to be a property owner in any part of Turkey.
The red title deeds: This is an official document that is awarded as a part of ownership contracts for urban lands, houses, and buildings.
The Blue title deeds: This is an official document that is awarded as a part of an ownership contract for agricultural lands and so on.
Turkish complete ownership title deed
This is a document that gives the owner of the purchased property a 100% ownership clause. The document usually comes fully detailed with data about the house. It goes on to identify the area, the number of apartments contained in the house, and its location.
Turkish interim title deed
The interim title deed in Turkey is usually a document that you get before getting the complete title deed. This type of document is presented to the property buyer if the said property is still under construction. At this stage, the property has not been delivered fully to the owner or the investor.
But the property will be registered with the Land Registry Directorate of Turkey – in its records of real estate purchased. In the records, all the property details are duly entered such as the building number, the initial property owner, as well as the location of the property. As soon as the property is fully constructed and it is ready, the municipality approves it.
The interim title deed is then converted into a complete title deed. These days, many investors in real estate choose to buy properties with developments that are still under construction. Such properties are regulated by using interim title deeds. Buying properties at this stage of construction help create more profits. This is because the selling prices of the properties usually increase during the first construction phases and to completion.
Commercial Title Deeds in Turkey
In Turkey, commercial title deeds have to do with many commercial properties that involve a store, an office, a shopping centre, and so on. It is also offered for all real estate properties that are meant for commercial activity, especially with residences that are used in the form of office apartments.