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Foreigners can make Tapu for few days

  • Property in TurkeyProperty in Turkey
Date: 05.11.2013

 

The recent revision of the registration process, the Turkish real estate by foreign nationals to buy it , has reduced the time it takes to obtain documents confirming the right of ownership ( Tapu ) in just a few days.
What was it like before?
Despite a long coastline of Turkey and its affordable price of real estate, the long process of shopping for foreigners frightened many of them.
Until now, foreign nationals are buying immovable property or land in Turkey , had to wait for the permission of the military establishment, which guaranteed that the acquired land or building which it is located , is not a war zone ( foreigners are not allowed to buy property in these areas Turkey).
The entire process of applying for a permit before receiving it , usually held 6-8 weeks, during which the buyer could not make the ownership of real estate in Turkey .
And this delay is typically performed an additional obstacle in the way of shopping as difficult to get a mortgage, forced to follow the fluctuations of the exchange rate , and also raised the issue of security for the period from the date of payment of the deposit to the moment when the buyer becomes the owner of the real estate law .
But now things have changed.
Rather than consider the application of each of the foreign buyer for each parcel of land or property , regardless of where they are located, the military will now give "permission to land ," and if such permission has previously been granted to one foreign buyer for a certain area ground , it can also be applied to all subsequent purchasers.
Simply put, innovation moves the focus from the permit issued to a single buyer , to permit issued to a specific territory ( land ) where the property is located , and has a number of cadastral islands - Ada № cadastral and land - Parsel №.
Since 14 October 2013 , the resolution of the War Department for the purchase of land or other property is not required, if the request for purchase on the same plot of land has already been done and approved at least once since May 5, 2011 . This will make the Turkish real estate market more transparent and simplify the buying process and attract more foreign buyers.
EXAMPLE:
If Mr. H asks the military permission to buy an apartment or villa in a residential complex, situated on a plot of land, and gets it , now this piece of land (and all of the properties are located on it ) does not need to obtain a permit for such purchase of other foreign nationals .
If the residential complex is located 100 objects , then all of them will be enough only a military solution. As soon as the ground will receive the status of " non-military zone" , foreign buyers will be able to register the documents confirming the ownership of any of the facilities are located , just a few days , as well as Turkish citizens .
This bill opens up new opportunities for foreign investors, who will be able to participate in the auctions of real estate, the bank re-entry into the possession of the property and other similar term sales, which until now have been completely inaccessible to them because of the lack of opportunity to take possession of the property immediately.
So now buy property in Turkey has become a lot easier. There will be no need for unnecessary legal acts and the associated financial costs.

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