In the modern world of real estate, the term “electronic title deed” is a new and exciting phenomenon that is bringing about a major transformation in the real estate sector in Turkey and it is a concept that interests many investors and buyers and we will explore the meaning and importance of electronic taboo, and how it can affect the real estate market in Turkey and we will highlight the details, benefits and challenges related to this innovative system and we provide you with a comprehensive understanding of the concept of electronic taboo and how it changes the course of real estate transactions in Turkey.
What is meant by real estate Tabu in Turkey?
Real estate title deed in Turkey is an official document proving ownership of a property or real estate, also known as the "Real Estate Registry" or "Property Registry" it is a government document kept by the Real Estate and Land Registry Departments in Turkey.
The function of the real estate title deed is to record information about the property, such as its location, area, ownership, and geographical information related to it and the real estate tapu is a legal proof of ownership of the property, and it is the document that is used in buying and selling, leasing, bequeathing and inheritance operations.
What is meant by the electronic title deed for Turkish real estate?
The tapu is the source of proof of real estate ownership in Turkey, as it is considered an official document proving the ownership of real estate and lands in the country, and in 2018, the Turkish government launched the electronic title deed project with the aim of facilitating and simplifying the processes of obtaining title deed or title deed documents for foreign clients who buy real estate or land in Turkey.
The importance of the electronic title deed project was greatly expanded after the spread of the Corona pandemic in 2019, as the demand for this electronic system increased significantly. Investors in the real estate sector began to encourage and support this new system, and the Official Land Registry Department announced statistics indicating that more than one million electronic taboo transactions were recorded in 2020, an astonishing number that attests to the success of this system.
This success is attributed to the efforts of the Turkish state in providing an ideal investment environment for Turkish citizens and foreign individuals and especially in the Turkish real estate investment sector, which has achieved record goals and returns for the Turkish state.
Read more about the types of Tapu in Türkiye and the advantages of obtaining it
Procedures for obtaining the electronic title deed for Turkish real estate:
At the beginning of the process, the buyer selects the property or house he wants to buy and local citizens and foreign clients can start searching for available options in Turkey by contacting a specialized real estate company and these companies offer customers special offers on residential projects and real estate units in various regions and these companies also provide information about prices and budgets available to customers.
After choosing the appropriate property in terms of location and price, the client submits the property offer to the specialized real estate company and this offer includes a video detailing the property's specifications, allowing the customer to inspect the property inside and out.
After reaching an agreement between the specialized real estate company and the client, the client must provide a special power of attorney to purchase the property in Turkey and the power of attorney can be directed to the real estate company or another trusted person and this power of attorney is necessary to register the chosen property in the client’s name and complete the ownership transfer process.
After completing all necessary procedures, the specialized real estate company completes the remaining steps to register the property electronically and transfer the title deed to the client and an electronic copy of the title deed is then sent to the customer, who can keep it as legal proof of his ownership of the property.
In this way, customers can benefit from the electronic taboo to register and confirm their ownership of real estate in Turkey in an easy and effective manner, which is a modern concept that facilitates the buying, selling and real estate registration processes in the country.
The papers required to obtain a real estate title deed in Turkey:
- The identity card or passport of both the seller and the buyer must be presented as proof of their identity.
- Photographs of both the seller and the buyer are required.
- A document proving the property's insurance against earthquakes and natural disasters must be provided.
- In the event that the seller or buyer is absent from the purchase process, a notarized power of attorney representing them must be presented.
- This document is considered necessary and is issued from the municipality concerned with the property, as it contains the necessary information to determine the consideration that must be paid for the property.
Advantages of obtaining an electronic title deed for real estate in Turkey:
- The property owner can view all the details of his property through the electronic title deed. In addition, the owner of the property can grant permission to another person to examine the information of the property or the house that he owns.
- The citizen or customer can submit all transactions online without having to go personally to the Land Registry Office and they can also submit the required documents to the real estate office online, allowing them to complete transactions before visiting the office.
- A property owner in Turkey can easily appoint a real estate agent through the electronic taboo, and this allows them to view property information securely, informing the property owner of all details of the operations via SMS at any time.
- Applications sent through the electronic tapu are transferred from the land registry office to the concerned employee, and the tapu fees and revolving fund fees can be paid after completing the necessary procedures and the signature timings and the signature itself are written via SMS.
- The citizen can complete all transactions and pay the required fees online, then go to the Land Registry Office at the pre-scheduled date and in addition, a citizen can create a declaration stating that no transaction will be made on the properties they own without their presence in person, ensuring protection against fraudulent attempts or theft.
In conclusion, the electronic Tabu for Turkish real estate is an important development in the world of real estate, as it contributes to simplifying and facilitating the processes of purchasing and registering real estate properties and this electronic system is an example of how technology can be applied to achieve greater facilitation and transparency in the real estate sector and thanks to the electronic title deed, real estate investors and citizens can benefit from many advantages that contribute to improving their operations and ensuring their rights with ease and safety, as Turkey continues to invest in this technology field to make real estate more attractive and accessible, making it one of the best real estate investment destinations in the world.
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