Real Estate Lawyer Istanbul
Buying property is one of the most important decisions people make in their lives. While it is not easy for a person to buy a property within the borders of his/her country, buying a property in a foreign country is a matter that requires more attention.
Many issues related to the property to be purchased should be carefully examined, researched, compared and made sure that the right decision is made.
Apart from that, the main issue is to take action in accordance with the legal procedures required by the real estate law to which the property to be purchased is subject. At this point, it is necessary to work with the real estate lawyer who is actually dominate on real estate subject and experience on the issue.
In particular, when buying a property in Istanbul, where is the real estate transactions made intensely, absolutely one of the best option real estate lawyer Istanbul should be with you.
When buying property in Turkey, immovable property (land, apartment, building, office, factory, house, villa, shop, store, etc.) it is subject to the real property law. As a citizen of a foreign country, real estate lawyers will make your job much easier, considering that you do not know the language and legal practices of a different country, as well as their laws. Attorneys of law, which we can think of as the most reliable person, will -be your most accurate guide in all your real estate acquisition processes.
Legal Limitations on Real Estate Acquisition of Foreigners in Turkey | Real Estate Lawyer of Istanbul
There are very important rules set out in the Land Registry Law numbered 2644 for foreign nationals and foreign legal entities. Some of these are below.
The total area of immovable properties acquired by foreign real persons may not exceed 10% of the area in which the real estate is located, provided that the legal restrictions are observed.
The total area of the acquired property is limited to a maximum of 30 hectares per person across the country, and the President has the authorization to increase this amount up to twice.
Legal personality commercial companies that established in foreign countries according to the laws of their country, can acquire unmovable and limited real rights in Turkey, in accordance with the provisions of special laws.
Foreign nationals and commercial companies with the above mentioned legal personality, the land they purchase, etc. it has to submit the project it will develop on the immovable property to the approval of the relevant Ministry within 2 years. Approved by the Ministry, the project is sent to the Land Registry to create the required land registry record.
Transfer of real estate property is possible in the following 2 ways;
1. With official title deed and registration to be signed at the Land Registry Directorates (The person acquires real estate ownership).
2. By signing a “sales promise agreement” at the notary (The person does not acquire real estate ownership. It is absolutely necessary to transfer a title deed in order to get the ownership).
Documents Required for Real Estate Purchases
The owner or his/her authorized representative must do a preliminary application to the Land Registry with the necessary information and documents. Documents to be prepared and submitted in real estate purchases are as follows.
* Title Deed Certificate of Real Estate or village / neighborhood, block, parcel, building, independent section information,
* Identity card or passport (with translation if necessary),
* Real Estate Fair Value Document of the real estate obtained from the relevant Municipality,
* Real Estate Valuation Report,
* Compulsory Earthquake Insurance Policy for residences, businesses and similar properties,
* 1 photo of the seller and 2 photos of the buyer (the photos must have been taken within the last 6 months and must be 6x4).
* If there is a party who does not speak Turkish, sworn translator,
* If the transaction is made with a power of attorney issued abroad, the original or certified copy of the power of attorney with its translation.
What are the features for power of attorney issued abroad for the purchase of real estate?
- Power of Attorney, can be issued by the Republic of Turkey Embassy or Consulate.
- The power of attorney can be issued by foreign notaries and in the language of that country, including a certified photograph of the person concerned.
If such power of attorney is certified in accordance with The Hague Convention, and if bears the phrase "Apostille (Convention de La Haye du Octobre 1961)" in French in addition to the country's language, the approval of the Turkish Consulate at that place is not required in the power of attorney and its Turkish translation.
- The power of attorney may be issued by foreign notaries who are not party to the Hague Convention, including a certified photo of the person concerned in the language of the country.
In this case, the signature and seal of the competent authority to whom the notary is affiliated to, is approved by the Turkish Consulate at that place.
Points to Consider for Foreigners When Acquiring Property in Turkey| Turkish Real Estate Lawyer
* The legal status of the property should be checked from the relevant Land Registry Office. Is there a restriction on the real estate to be purchased such as mortgage, foreclosure, etc.? Is there a situation that restricts / hinders the sale of the property? These issues need to be carefully studied.
* If the application to acquire a real estate is rejected, it is possible to appeal to the Regional Directorate where the Land Registry Directorate, which carries out the transaction, is affiliated with.
* It is not mandatory for foreigner to have a residence permit in order to purchase real estate in Turkey.
* Related to property acquisition process, in case of a dispute between the parties, the legal process must be initiated and should be litigate in court the Republic of Turkey.
* Related to real estate purchases and legal processes, always should be cooperate with an expert and reliable real estate firm and real estate lawyer Istanbul.
As can be seen, many rules must be followed in the Real Estate legislation, which is all about legal processes. Real estate is also extremely valuable financially. Therefore, real estate issues are based on very important principles in terms of the law.
MELARES Turkey Properties' lawyers who are experts in real estate law and Turkish citizenship, meticulously conduct real estate acquisition and all your legal processes.
The Importance of Cooperating with Real Estate Lawyer Istanbul
In Istanbul, where is Turkey's most cosmopolitan and most advanced city in terms of real estate, each passing day is being done new constructions, also is being renovated the old constructions and sold.
In such a busy real estate market, it is very important to make real estate preferences right. Aside from the procedures of purchasing the property, whether the relevant property is eligible for purchase in terms of legal terms is one of the primary issues.
It is a difficult and tiring task for an ordinary person to examine the land registry records and to determine whether there is any controversial situation on the property. In addition, foreclosure, mortgage or similar restrictions may occur on properties. Since these situations do not appear on the title deed, the existence of such situations can only be confirmed from the land registry records at the Land Registry Directorate.
From time to time, there may be disagreements among the heirs in properties such as apartments, villas, land, fields, offices, shops that were acquired through inheritance. The existence and resolution of such situations, which legally complicates the process and delays the sale of the property, can also be resolved with experienced real estate lawyer Istanbul.
Expert and experienced lawyers in real estate law, carry out complicated processes for individuals and legal entities such as purchasing real estate, arranging documents by country, eliminating customer concerns and questions, investigating the legal status of the real estate and facilitate your work. In case of a problematic situation related to real estate, he/she warns you and makes the necessary correct directions.
If you are buying a house, shop, office, store from a project under construction, it may not have been title deed yet. In this case, after making your purchase decision, a Real Estate Sales Promise Agreement must be drawn up with the construction company. Although this contract varies from company to company, it contains pages of length and dozens of legal terms. In order to sign this contract, you must be in cooperation with a specialist lawyer and make sure that the terms of the contract are not against you. A lawyer experienced in real estate law will examine the contract on your behalf and suggest some revisions to the construction company if necessary. (Whether these revisions are accepted or not is at the discretion of the construction company.)
When you work with a real estate lawyer Istanbul who is an expert on Turkish citizenship, you can progress smoothly in all your stages of acquiring Turkish citizenship with real estate investment and you can get your Turkish citizenship in optimum time.
In addition, your application residence permit in Turkey, Istanbul Turkish real estate lawyer will be guiding you and all of your process will make it effective and efficient.
Istanbul Turkey Real Estate Attorney help you in all tax matters related to your property, such as Land Purchase Tax, Stamp Tax, Mortgage Tax, Value Added Tax Exemption (for foreigners).
Regardless of the subject, a competent lawyer informs you at every stage of the process and shares up-to-date information in all your transactions such as property purchase, citizenship, residence permit.
The expert and experienced lawyers of MELARES Turkey Properties bring your transactions to the conclusion with the most affordable cost.