Buying Property in Turkey for Foreigners has a very common case in the condominium ownership: Condominium Law is one of our main Turkey FAQs.
As the real estate market develops in Turkey, the Condominium Law is becoming the center of attention. For those who would like to purchase real estate in Turkey, one of the frequent questions we receive relates to condominium ownership.
What is Condominium Ownership?
Condominium Ownership (“Kat Mülkiyeti” in Turkish) is a particular type of ownership on a terrain that is suitable for separate utilization of multiple divided units as real assets and as savings, depending on the land share.
In other words, it is a private ownership relevant to the land share and to the common areas within the main real estate. As per the Law, independently usable units such as flats, apartments, offices, shops, stores, cellars, storages can be made subject to independent ownership although constructed over a unified right to the land or ownership over the real estate.
What are the obligations as to the Condominium Ownership?
Condominium owners have certain obligations such as:
- Maintenance and protection of the main real estate and responsibility for damages
- Equal participation in the payment of any staff on cleaning, security and gardening
- Use of their independent, additional and shared parts in compliance with the requirements
- Paying the utmost attention not to disturb each other or violate each other’s rights
- Compliance with the terms of the management plan, which is a binding agreement between flat owners regulating manner and intention of utilization of the main building, divided units and of the common areas, rights and obligations of the management and inspection
- Obligation to give permission for necessary works
Buying Property in Turkey for Foreigners – What to do?
It is very important that the foreign companies and individuals who have condominium ownership in Turkey fulfill their obligations or they may have joint liability according to the law, for which counting on expert Turkish Property Law advise will safe time and money on the long term.