Law Offices of David G. Arganian, Seattle, WA

Buying Property in Turkey?

In recent years, many Europeans have begun looking for alternatives places like Turkey, on the lookout for.

More and more people decide to relocate your residence in a country that is blessed by the sun and gives them all year round holiday feeling. Traditionally, many Europeans acquire properties in European and Mediterranean countries like Spain, Italy or famous USA states like Florida. However, these areas have recently become very expensive. In recent years, many Europeans have begun looking for alternatives places like Turkey, on the lookout for.

More and more Europeans are choosing a holiday property in Turkey - places. Reasons for this lie mainly in the low property prices and low cost of living. HOT STUFF Turkey stands by its cultural diversity, which is caused by the fact that the country united spans two continents and thus the Orient and the Occident, tradition and modernity in a unique charming way. Since Turkey is one of the most popular holiday destinations of Europeans, there are already many established tourist areas, some areas still to be discovered and developed for tourism.

The demand for property in Turkey in recent years has become increasingly important. Accordingly big is the range of real estate in Turkey (Especially in the many resort areas along the Mediterranean coast, strengthened property to be built in Turkey) The offers are in many cities across the country.

The statutory limitations on the acquisition of property by foreigners

On 7 January 2006, Article 35 of the Turkish Land Registry Law which entered into force. The rule governs the question of the conditions under which foreigners may acquire real estate. According to the law governing the purchase of real estate by foreign nationals, foreign nationals can acquire immovable property in Turkey on condition that the legal restrictions are observed and it is based on the principle of reciprocity.

Foreigners may purchase in Turkey for residential and commercial real estate, provided that there is reciprocity in this regard and the legal restrictions are observed. This means that foreign natural persons and legal persons may acquire real estate, when Turkish natural and legal persons shall have equal rights in the foreign country. An example exists between Germany and the Republic of Turkey concerning the acquisition of real estate reciprocity.

Basically, an alien may acquire in a village with a population fewer than 2,000 inhabitants, no property. This applies only to towns that have no so-called municipal council. There is such a Council, so aliens can also buy real estate there.

All the aforementioned does not apply to tourist areas. Here, foreign individuals and legal entities to acquire property, they must be guaranteed without the other.

The total area of real estate that a foreigner can buy in Turkey but not exceed a total of 25,000 square meters, even if they are in different cities.

Foreigners must also catch up with the military authorities in the region a permit before they purchase a property. Since the sale of a property will not be possible to foreigners, when they should be in military "security zone", it is important that this be resolved before the payment of the purchase amount.

Foreign natural persons may acquire real estate in Turkey provided that exists between Turkey and the country of which they are nationals, a reciprocity in this regard. On reciprocity lists, you can check with the agencies in your country of Turkey and the Embassy or the Consulates General of the Republic of Turkey in your country.

The official certification of the contracts

Under current legislation in Turkey, the official contracts for transfer of ownership of property necessarily certified in the land registry offices, located at the place of the real estate. A property transfer never takes place at a notary who is, unlike in Germany, also did not have the right to purchase such actions. It is also possible to sign before the official sale in the presence of a notary a letter of intent, namely a contract for purchase of the land promise. The land sale is only a preliminary promise, which is notarized and includes the obligation to go together to the land registry office, then they can complete the actual purchase agreement. This protects against third party not acting in good faith acquisition, unless there exists a mention in the land which, although it does not prevent the acquisition by a third party, however, leads to the fact that the transmission is directed against this claim.

The land purchase contract itself is not closed before the notary, but before the land registry through the establishment of a public document. After the official certification of the land sale contract, the property is transferred by registration of the purchaser in the land register. Before the conclusion of the contract must be clarified in the land register, if the property is encumbered with limited real rights or mortgages or other barriers exist regarding their sale.

Foreign natural persons must lead the application to the competent land registry offices in the following documents:
- First Identity card or passport
- Second The certificate issued by the competent authorities residence permits for foreigners Foreigners Police, whose real estate acquisition of a residence permit is dependent on - Third The original or a certified copy of power of attorney along with translation, if the purchase is made on the basis of a power of attorney issued abroad.

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