Turkey

Registering Property in

Turkey

Listed below is a detailed summary of the steps, time and cost involved in registering property, assuming a standardized case of an entrepreneur who wants to purchase land and a building that is already registered and free of title dispute.

The information appearing on this page was collected as part of the Doing Business project, which measures and compares regulations relevant to the life cycle of a small- to medium-sized domestic business in 183 economies. The most recent round of data collection for the project was completed in June 2011.

  • Standard Property Transfer

  • Property Value: TRY 722,110.18
  • City: Istanbul

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No. Procedure Time to Complete Associated Costs
1 The buyer conducts a non-encumbrance check on the property

Although not mandated by law, non-encumbrance check is a must procedure without which buyers do not proceed with the transfer process. The buyer almost always checks whether or not the property is free of liens and encumbrances. For this, the seller would need to obtain the document showing that the property is free of disputes. By law, the records are not open to public: the buyer can obtain this document only with a power attorney of the seller. Therefore, this document is typically obtained by the seller who is often accompanied by the buyer. For transactions that are undertaken by lawyers, this procedure is taken care of by lawyers (who have the power of attorney from the seller and have a legal right to search titles). The information is computerized, takes minutes to check and is free of charge.

Agency: Registry Office 		1 day no cost
2 Managers obtain an authorization certificate of their authority to conduct transactions on companies’ behalf

If the sale transaction will be made in person by the company signatories, the managers should obtain a separate document from the trade registry, showing that they have the authority to conduct transactions before land registry on their companies’ behalf. If the sale transaction will be made in proxy given by the company signatories, the representatives should be given special proxies, which will be issued before the notary and inclusive of the authorized managers’ statement as well as the photographs. The notary might ask the manager to show the above mentioned authorization document or a signature circular of the company.


Agency: Company Registrar 		1 day TL 22.60
3 Obtain an earthquake insurance policy, or amend the existing one

If a “compulsory earthquake insurance policy” had not been issued for the building, one must be prepared since in practice, when selling the building or asking for a loan on it, it is usually required. The cost of this insurance policy depends on the features such as the area of the building and the place thereof, and the insurance brokers automatically calculate it.
If there is an existing "compulsory earthquake insurance policy" which is still valid at the date of the sale (i.e. if the term of the insurance policy has not yet expired), then there is no need to issue another one just as a result of the change of ownership. However, the new owner of the property shall have the insurance policy amended to indicate his own name under the policy, which will be arranged between the insurance company and the new owner.


Agency: Insurance Company 		1 day no cost (unless a new insurance is needed)
4 Parties apply for registration and obtain tax payment assessment

The seller and the purchaser (or their representatives) meet at the registry office and fill in an application form. Once the required documents are presented, the parties declare the consideration to be paid by the purchaser. The officer calculates the mortar dues, and gives the account details of the registry office for the payment, and makes an appointment on the very day or on the consecutive day for the parties to pay the dues and come back again for signature.

The documentation shall include:
Tax registration certificates of the companies.
The Authorization Certificate of the manager obtained from trade registry, if transactions are carried out by the company signatories.
The notarized proxies of the representatives (if they will perform the transaction)
The identity cards of signatories (passport for foreigners)
Two photographs of each person who would actually sign the registry documents.
Signature Circular
Title deed copy or information regarding the title deed of the property


Agency: Registry Office 		1 day no cost
5 Registration fee is paid at a commercial bank

Mortar dues are paid to the bank account of the land registry, and the bank will give a receipt of the payment. The mortar due is equal to 3% of the declared amount in Turkish Lira, collected 1.5% each from the parties, but in practice usually the purchaser pays all. The parties also pay a registration fee to cover overall expenses of Land Registries in Turkey. This is usually paid by the purchaser.


Agency: Commercial Bank 		1 day TL 145 (registration fee) + 3.3% of declared transaction price (mortar dues) or 3.3% of the taxable value of the real estate (whichever is higher)
6 Transaction is completed at the registry office

Once all the above procedures are fulfilled, the parties meet at registry office before the registry manager or his deputy at the appointment hour decided previously. The purchaser pays the consideration at that time. If it is already paid, the seller declares that it is fully paid. Then the parties both sign the land record sheet as well as the photographs of each other that are stuck to the document. Each person witnesses that he/she had made the transaction mutually with the person in the picture, the transfer of the title is then completed. The documentation shall include: payment receipts .


Agency: Registry Office 		1 day Already paid in Procedure 5
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