Title deed transactions are an issue that must be carried out extremely meticulously. Therefore, attention should be paid to the procedures to be performed both before and after the title deed.
The identity document of real estates such as houses, lands, workplaces, shops and offices are deeds. This extremely important official document, the title deed, also provides information about who owns the rights to the immovable property.
What is a Title Deed?
With the simplest definition, the title deed is the identity of land or real estate. The title deeds issued by the land registry offices in the provinces are the most official document for the independent section or real estate in question and remain valid until proven otherwise. Among the people, this document is also called a title deed.
The title deed is divided into three groups. Classification is made as condominium title deed, title deed with condominium easement and share title deed.
Condominium title deed: It is the title deed given to the buildings whose construction is completed and the certificate of occupancy is received. Here, the right holders of each independent section have separately registered title deeds.
Title deed with condominium easement: A title deed with condominium easement is given to buildings whose construction has not been completed or for which a certificate of occupancy cannot be obtained due to deficiencies. With the title deed with floor easement, the right holders on the land are given shares as much as their land shares. In this type of title deed, it is clear to whom the apartments belong.
Share title deed: It is a title deed in which the number and names of the shareholders who have a share on a land or real estate are written. Everyone has an equal share in the property. It is not clear who owns which apartment, the right holders make this division among themselves.
How Are Title Deed Transactions Performed?
Title deed transactions are an issue that must be carried out extremely meticulously. Therefore, attention should be paid to the procedures to be performed both before and after the title deed.
Procedures to be done before the title deed transaction;
It should be determined in advance by whom the property tax and title deed fee will be paid.
An additional budget should be allocated for expenses such as title deed costs, real estate agent commission, file costs.
If a loan is desired to be used, banks should be interviewed and approval should be obtained.
DASK (Compulsory Earthquake Insurance) should not be forgotten.
The current price should be learnt from the municipality where the house to be sold is located, and property tax should be paid over it.
The title deed owner or his/her representative should apply to the title deed office for an appointment.
Title deed fee must be paid.
Procedures to be done on the day of the title deed;
When the appointment time arrives, you must be present at the land registry office.
The receipt of the paid title deed fee should be given to the officer.
Sales documents must be signed between both parties.
If a loan is used, loan opening documents can be signed from the bank.
How to Calculate the Title Deed Fee?
The title deed fee, also known as the title deed fee among the people, is calculated over 4 per cent of the sales price declared for the property sold. This fee is paid once during the purchase and sale of the title deed. With a simple calculation, when you buy a house for 1.000.000 TL, you have to pay 4 per cent of this amount, ie 40 thousand TL title deed fee.
Who Pays the Title Deed Cost?
Who pays the title deed costs between the buyer and the seller has always been a problem that has always been voiced. The issue of payment of title deed costs is clearly stated in the legislation. Here, the 4 per cent cost to be paid over the total price is paid equally. Both the buyer and the seller pay the title deed cost with a 2 per cent payment. However, with the negotiation and agreement to be made, only one party can pay the title deed cost. There is no legal obstacle here.
How Much Does the Title Deed Cost Cost in 2022?
The title deed fee is always calculated over 4 per cent of the sale price of the immovable in question. A revolving fund fee is also paid on top of this. The revolving fund fee, which is an official fee, was applied as 157 TL for 2022. In addition, you will pay a fee of 178.50 TL with an additional service fee of 21.50 TL. If we explain with an example;
For a house of 1.000.000 TL, 40 thousand TL title deed fee and 178,50 TL revolving fund fee are paid over 4 per cent. Thus, 40 thousand 178 TL 50 kurus expense is paid for the title deed expense.
When to Pay the Title Deed Fee?
Title deed fee can be paid after the application made at the land registry offices. After your application, you will receive a message on your phone regarding the amount and time to be paid. You can make your payment in line with this message.
Where to pay the title deed fee?
You can easily pay the title deed fee through banks. You can also make your payment with your debit card or credit card through the Land Registry and Cadastre Fee Inquiry page on the Revenue Administration website.
What are the Documents Required for Title Deed Transactions?
Different documents are requested from both the buyer and the seller in title deed transfer transactions. These documents are as follows:
Documents requested from the seller;
Original or photocopy of the title deed
1 passport size photograph
Original and photocopy of identity card
No tax debt paper
Power of attorney if the title deed transaction is made through the real estate agent.
Documents required from the buyer;
2 passport size photographs
Original and photocopy of identity card
Power of attorney if the title deed transaction is carried out through a real estate agent.
If the buyer or seller is a legal entity, then the following documents must be present
Original and photocopy of tax certificate
Company authorisation signature circular
No debt paper and fair value information to be obtained from the municipality
TCIP insurance