Considerations in Real Estate Law

Considerations in Real Estate Law

Real estate law is a broad branch of law that covers the legal regulations regarding the purchase, sale, lease, transfer and use of these immovable properties. Since the legal consequences of the transactions to be made in real estate are of great importance, there are many issues to be considered. In this article, we will discuss the most important points in real estate law.

Land Registry and Ownership Status

The first thing to do before entering into a real estate transaction is to examine the title deed. The title deed is the official identity of the real estate and contains critical information about the ownership status. This record contains important information such as who owns the property, whether there are any mortgages, liens or restrictions on it, etc. A detailed examination of the title deed record ensures that future ownership disputes can be avoided. It is also of great importance in terms of determining who the real owner of the real estate is.

Zoning Status and Occupancy Permit

The zoning status of a property is an important factor that determines how that property can be used. Zoning plans include a region’s building conditions, building heights, intended use and other technical details. Before buying a property, you should obtain a zoning status certificate from the relevant municipality and check whether the property is suitable for its intended use.

The Occupancy Permit (Isân Belgesi) is an official document that shows that the building is suitable for occupancy. The existence of this document shows that the building was built legally and complies with the required standards. Buying a real estate without a certificate of occupancy may lead to various legal problems in the future.

Rights and Obligations on Real Estate

There may be various rights and obligations on a real estate property. These include mortgages, liens, lease agreements, easement rights and other annotated rights. The existence of these rights and obligations can directly affect the use and value of real estate.

For example, when purchasing a real estate with a mortgage on it, it is necessary to agree on the removal or acquisition of this mortgage. Similarly, if there is an existing lease agreement, the terms and duration of this agreement should also be considered.

Real Estate Valuation

In real estate transactions, it is of great importance to accurately determine the real value of the property. Therefore, obtaining a professional real estate valuation service ensures that the transaction takes place in a fair manner.

In the valuation process, many factors such as the location, size, age, usage, environmental factors and market conditions are taken into consideration. An accurate valuation helps determine a fair price for the buyer and seller and prevents possible disputes.

Taxes and Fees

There are various taxes and fees involved in real estate transactions. These include title deed fee, real estate tax, income tax and VAT. It is important to calculate these obligations correctly and pay them on time to avoid legal sanctions.

In particular, it should be clearly stated in the contract who will pay the title deed fee in the purchase and sale of real estate. In addition, in some cases, tax exemptions or discounts may be available. It would be useful to seek advice from a tax expert on this matter.

Preparation and Signing of Contracts

Contracts used in real estate transactions are critical documents that determine the rights and obligations of the parties. The complete and accurate preparation of these contracts is of great importance in terms of preventing future disputes.

In documents such as a sales contract, lease agreement or construction contract, the identity information of the parties, the characteristics of the real estate, payment terms, delivery date and other special conditions should be clearly stated. In complex transactions or large-scale purchases and sales, it is advisable to prepare and review the contract with the assistance of a lawyer.

Condominium and Common Areas

In multi-storey buildings such as condominiums, the condominium law plays an important role. This law regulates issues such as ownership of independent sections, use and management of common areas. When buying a condominium property, it is important to review documents such as the management plan and site rules.

Issues such as the use of common areas, dues payments and participation in building management can lead to disputes between condominium owners. Therefore, these issues need to be clarified and understood in advance.

Real Estate Litigation and Dispute Resolution

In real estate law, lawsuits can be filed for various reasons. These include eviction lawsuits, rent determination lawsuits, partnership relief lawsuits and zoning disputes. It should be noted that such lawsuits can be lengthy and costly. There are also alternative methods for resolving disputes. Methods such as mediation and conciliation can help parties reach mutual agreement and help resolve problems without going through the litigation process.Real estate law is a broad field that includes many complex issues. It is of great importance to be careful in the transactions to be made in this field, to make the necessary research and to get expert assistance. Paying attention to issues such as examining the land registry, checking the zoning status, determining the rights and obligations on the property, making the correct valuation and carefully drafting the contracts will help to avoid possible problems.It should be noted that each real estate transaction is unique and may include special conditions. For this reason, it would be wise to seek advice from a real estate law expert, especially in large-scale or complex transactions, in order to minimize legal risks.The issues to be considered in real estate law are not limited to purchase and sale transactions. Similar care and attention should be paid in areas such as leasing, construction, urban transformation and zoning applications.