Lawyer in Turkey: Tapu within 3 days!

Wednesday, December 4, 2013

Tapu within 3 days!

Procedural Change at the Tapu*

Since last month foreigners are able to buy real estate within 3 days!!!!

According to the Turkish TAPU laws and regulations in force, transfer of ownership of a property is only possible with an official deed and registry which is signed at the Land Registry Directorates, provided that for the foreigner a permission procedure is undertaken, regardless if for the same property any procedure has been followed before  or not.

This permission procedure takes at least 6 up to 8 weeks and has several disadvantages for the buyer as well as for the seller of the property. 

But, adjustments since October 2013 allow a foreigner to register his ownership directly without following a permission procedure for the bought real estate, provided that there is a permission procedure undertaken for the plot after 05.05.2011.

With other words, if since 05.05.2011 for the building wherein the apartment is sited or for the plot wherein the villa is located already a foreigner permission procedure has been undertaken, the foreigner who wants to buy the real estate which is located in the same plot is not obliged to receive or follow any procedure at all. He is able to receive his title of deed directly, as a Turkish citizen!

For the permissions undertaken before the date of 05.05.2011 , the obligation to undergo the permission procedure still does exists.

*Tapu = Title deed, ownership

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