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The Facts about Property Ownership in Turkey
Is the ownership of the property in Turkey indefinite?
Yes, under Turkish jurisdiction property ownership in Turkey is for an indefinite time period. Contrary to some jurisdictions like UK or UAE, the property right of a real and legal person in Turkey is for an indefinite term.
Furthermore, once a foreigner acquires a real estate title in Turkey, they have no difference compared to other citizens whose origins are Turkish. This assurance is provided under the Law of Foreign Direct Investment numbered 4875 and Law of Property numbered 2644.[1,2]
Notwithstanding the above, there are some legal rights that are subject to a certain time period. For instance, one can prefer to acquire an easement right for a 30 or 45-years period. Yet, easement right is not a property right but it gives you only rights of the building and using such building, including but not limited to leasing it out or transferring such rights.
Related Article: Turkish Citizenship By Real Estate: New Rules and Steps.
What Is “The Rule of Reciprocity”?
However, one should be careful before going into engagement for any real estate property in Turkey. Because as per Section 35 of the Property Law numbered 2644, citizens of foreign countries may acquire real estate ownership in Turkey unless the same applies in their country for Turkish citizens. This is called the rule of reciprocity. For instance, Syrian or Bulgarian citizens are not allowed to acquire real estate property in Turkey, because Turkish citizens are not allowed in such countries for the same.
Although foreigners’ real estate acquisitions are categorically free, because of some specialties some of which are mentioned above, they are strongly advised to receive legal advice from a lawyer in Turkey before making any agreement.
We have listed some facts about property ownership in Turkey, hope this article helps you better understand the property rights of individuals in Turkey.
