A detailed explanation of the title deed of real estate in Turkey (Tapu)
When you intend to buy a property in Turkey, you will hear a number of terms being used. Most people tend to assume that title and title deeds are the same thing, but they are actually referring to two separate legal concepts. When you fully own a property, you will own both the title and title deed. But the title is different from the bond. Mixing the two can cause problems if you don't know what you're using.
The title deed is a legal document used in real estate to transfer the ownership of a property from the grantor (seller) to the beneficiary (buyer).
And real property is land or anything attached to it such as buildings or roads.
For a title deed to be legally valid, it must include identification of the giver and an appropriate description of the property.
While title denotes ownership of the property, which means that you have the right to use that property. It may be a partial interest in the property or it may be complete. However, since you have the title, you can access the land and modify it as you see fit.
Types of real estate title deed in Turkey
Title deeds can be classified in many ways, generally title deeds are classified as official or private
The official is extracted from it based on a court decision or legal procedures. However, most real estate transactions involve individuals and business entities using private instruments
Bonds are also categorized based on the type of title guarantees offered by the grantor, and include the following:
General Title Deed
The general title deed provides the owner of the property with the greatest protection. With this type of deed, the grantor makes a series of legally binding promises (called covenants) and guarantees to the beneficiary (and his heirs) agreeing to protect the beneficiary against any previous claims and demands of all persons whatsoever with respect to the land or property transferred.
private title deed
Where the grantor of the general title deed undertakes to guarantee and defend the movable property against the claims of all persons, the grantor of the private title deed warrants that he received the title and that he did nothing during his possession of the title deed to create a defect.
In other words, only defects that arose during the grantor's ownership of the property are guaranteed. Because of this limitation, the private title deed provides less protection than the general title deed, and therefore many property buyers in Turkey prefer to obtain a public title deed to protect against problems that may arise in the event of a private title deed.
Limited Warranty Title Deed.
It provides all the same protections and guarantees that a public tapu does with one major difference: it only guarantees the period during which the seller has owned the property. If the buyer faces a property claim from someone who had a lien on the property under a previous owner, the buyer will have to handle the matter on their own and will not have legal recourse against the seller. However, if the buyer has insurance for the property, the insurance policy will likely handle the cost of defending the property.
Quick Title Deeds (No warranty)
It is often used to transfer property between family members, to transfer property to living trusts, and to remedy property errors. However, a resignation deed does not prove the grantor's ownership of the property, and in some cases (such as in liquidation of property errors), grantors willfully issue a title deed that is not theirs to sell. No warranty deeds also do not guarantee that there will be no defects in ownership such as tax liens or easements. Since there is no legal protection against liens or foreclosures, these title deeds are highly trusted and preferred by people who know each other well.
Mortgage deed:
A mortgage deed works like a trust deed with one major difference. This type of bond is characterized by only two parties - a lender and a borrower.
The trustee or lender, whose title is in the deed of trust, is not included in the mortgage deed. The title is divided equally between the lender and the borrower until the mortgage is paid in full.
At this point, the title passes exclusively to the homeowner, who no longer owes any debts.
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