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New Regulations are on the way for Title Deeds
Category: Buying in TurkeyAdd Time: Kas 30th, 2009Author: admin
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An amendment is planned in connection with the liability of transforming the right of access to the ownership of the flat. On the basis of this amendment, the 1000 TL fine for those who have not completed the formalities for ownership by the end of November will be annulled. For new buildings, the ownership will be initiated and will be obligatory. By the initiation of formalities involved, it is intended to “reduce the paperwork and bureaucracy, to lighten the load of the citizens and to check the financial losses by updating the registration and maps of the title deeds.”


The right of access during the construction of a building covers “the right to add another story on top of the building”. On the other hand, the ownership is recognized for buildings where construction is completed and the permit is obtained for its use. To transform the right of access to ownership, certain formalities are involved, such as obtaining municipal permission to move in (document for usage of the building), the application for declaration of alteration in the category by the management of cadastral survey,.obligatory insurance against earthquakes, and the document stating that all taxes are paid in line with the Law on Expenditures.


The Law on Condominiums was amended in 2007 whereby for buildings with right of access and the document for its use obtained prior to the date the law was enforced, it was obligatory to acquire the ownership within two years. The possessors of the right of access failing to do this were to be subjected to a fine of 1000 TL each.


With the new amendment in the Law of Condominium, this is cancelled. In the justification for the draft law, the reason for this cancellation is set for as follows:


“The new regulations are for the purpose of ensuring that the registration of the title deeds are updated and a certain amount of financial loses is avoided. At the same time, in case the purpose and the amendments in the law are not clear enough for the public, and, despite their good will, our citizens who are unable to contact all the owners in the condominium may be subject to an administrative fine for their failure to obtain the required ownership, which may lead to considerable panic and uneasiness among the people, it is intended to cancel collecting administrative financial fines”.

 

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