Personal Rights Noted on the Title Deed
These are preliminary agreements drafted by a notary public, outlining the mutual declarations of sellers and buyers regarding the sale of business premises, land, and houses at specified prices, where the sellers commit to selling and the buyers commit to purchasing and paying the prices. However, it is crucial to note that these must be officially recorded (annotated) on the title deed. It is not possible for the buyer to unilaterally demand the final sale based solely on the sales promise agreement; the seller's participation is required. Otherwise, the buyer can seek legal recourse through the court to have the property registered in their name. Accordingly, personal rights noted on the title deed can be asserted against third parties.
Documents Required for Business Premise Purchases and Sales
Sales of business premises in Gaziantep must be annotated on the title deed. Consequently, the rights and obligations of the parties are clearly stated in the agreements without ambiguity, specifying the price of the real estate and the payment methods. Both parties' photographs must be included, and the agreements must be sealed by a notary public. If the parties wish, a penalty clause can be included in case of withdrawal. It should be known that this annotation is valid for up to five years. After five years, it loses its effect and can be expunged ex officio. However, if the 5-year period for a sales promise annotation on a property has passed and the sale has not been made to the beneficiary of the promise, the property owner can request the annotation's removal without the beneficiary's consent.
Certain documents are required from individuals selling a business premise. These include: title deed and its photocopy, photographs, identity cards and their photocopies, Turkish ID numbers, original tax identification cards, real estate tax receipts, residential addresses, and phone numbers. A power of attorney for tracking title deed transactions must be issued in the real estate agent's name. The documents required from buyers of business premises in Gaziantep include: 2 photographs, original and photocopy of identity card, Turkish ID number, original and photocopy of tax identification card, residential address, and phone numbers are essential.
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