: 2019-06-14 Modified date : 2019-07-04
Before going into Title Deed fees in Turkey, you have to know what the title deed is first.
The title deed is a document that regulates a particular property, verifies the property ownership OF the person mentioned in the document also provides information about the property and the survey numbers and determines the location of the property. The Directorate of Land Registry regulates this document.
The fees of the title deed in Turkey are a sum of money paid after buying and selling the project and cannot transfer ownership of the real estate in the title deed without paying these expenses.
The value of the title deed fees in Turkey is calculated on the basis of 15 per thousand of the sold property price.
According to the different types of title deed in Turkey, for example, if you sold or bought an apartment of 100 thousand TL you will pay 15 per thousand of this value, which is equal to 1500 TL. Thus, the total cost of the title deed will be 3,000 payable by the seller and the buyer equally.
However, there are additional costs for the title deed paid only by the buyer (labor and others). This year, for example, the labor allowance was 128 Turkish liras in addition to the additional services by 17.50 Turkish liras.
The time to pay the title deed fees in Turkey begins after the delivery of the transfer papers. Fees are paid within the department where the transactions are carried out and can be collected by the relevant institutions (such as banks) if the Ministry of Finance gives a permit.
Title deed directorates will also apply online collections, so beneficiaries will be able to pay these fees through banks, ATMs, and from different locations and countries.
The fees of the title deed are calculated in Turkey at the cost of transfer of the property so that it is not less than the real estate tax, and the actual value that the buyer will pay the seller must be recorded in the title deed statement.
In this area, some use low values to reduce real estate fees and this is illegal and is punishable both by the seller and by the buyer.
In the event of a violation and an unrealistic price in the title deed statement, there is an opportunity to modify the price before the penalties are imposed by submitting a request called "Request to modify the sale price." In this case, the decrease in the fees of the title deed is paid and no penalty is deducted.
Edited by: Imtilak Real Estate ©
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