Real Estate and Joint Title Deed in Turkey

The types of title deeds vary in Turkey depending on the types of properties. The title deed, a document indicating the property owner.

property specifications, and the person responsible for the property before the Turkish state, grants the right to buy, sell, lease, and pay fees and taxes.

Concept of Joint Title Deed in Turkey:

• This is a recent procedure adopted in Turkey by the Directorate of Title Deed and Cadastre. It involves registering a jointly owned property and issuing a single title deed for it.
• A jointly owned property is a property registered in the names of multiple owners, each with a different share.
• The share is determined based on the amounts paid by each partner, and the property is registered in their name accordingly.
• Jointly owned property can be owned by any number of individuals, starting from two people and extending to a large number.
• The property can be shared among siblings, spouses, relatives, children, or friends. Each person owns a specific share of the property.
• which is recorded in the title deed document. The Directorate of Title Deed and Cadastre in Turkey does not require equal shares
• An individual’s share can start from 1% of the property and extend to any larger percentage.
• The essential condition is that all property owners must be nationalities allowed to own property in Turkey.

How to Register Joint Title Deed in Turkey:

• After purchasing jointly owned property by several owners, they must go to the Directorate of Title Deed with bank receipts.
• showing the financial values paid by each person individually. These receipts help determine the share of each individual in the property.
• For example, if a property worth $100,000 is purchased by four people, the first person pays $50,000, the second $30,000.
• the third $10,000, and the fourth $10,000, based on official receipts.
• In this case, the title deed official would issue a joint property title deed, recording the first person’s share as 50%.
• the second person’s share as 30%, and the third and fourth persons’ shares as 10% each.
• A single title deed is issued, listing the names.
• personal details, nationalities, and shares of each owner.

Properties Purchased through Bank Loans with Joint Title Deed:

• When two or more people apply for a real estate loan from a Turkish bank, the bank inquires about loans belonging to the parties before organizing the real estate registry.
• This allows new owners to purchase the relevant portion of the property after obtaining the bank’s approval.
• In this case, a property can be purchased through a bank loan, whether the agreed-upon percentages between property owners are equal or different.
• In this case, only the data provided by the bank is considered to complete the property ownership registration process at the Directorate of Title Deed.
• Jointly owned property in Turkey aims to allow multiple individuals to own a single property with equal or varying shares.
• This assists those with limited budgets who wish to own property in Turkey but cannot afford it individually.
• This process also grants ownership rights within a single family, whether among siblings, children, relatives, or spouses.