REAL ESTATE LAW

Real Estate Law is a branch of law that covers all legal transactions related to immovable property. This field of law governs many aspects, including the buying and selling of real estate, lease agreements, mortgage transactions, property rights, and construction contracts. Real estate law is extremely important for both individuals and businesses, and when not properly understood, it can lead to serious legal problems. In this article, we will address the key topics of real estate law, focusing on property rights, buying and selling, and lease transactions in detail.

Real Estate Ownership and Property Rights

Real estate ownership refers to the legal possession of immovable property. Under the Turkish Civil Code, ownership of real estate is a full, continuous, and transferable right. The ownership right allows the property owner to use, lease, sell, or transfer the property. However, property rights are not unlimited, as there may be encumbrances, restrictions, or special regulations on the property. Therefore, when engaging in real estate transactions, it is critical for both buyers and sellers to seek legal advice to ensure the validity and integrity of ownership rights.

Real Estate Sale: Sale Agreement

The buying and selling of real estate is one of the most fundamental transactions in real estate law. A real estate sale is typically carried out through a written agreement. To be valid, a real estate sale agreement must meet several legal requirements:

• The agreement must be in writing,

• Both parties must have legal capacity,

• The property must have correct and complete registration in the land registry.

A real estate lawyer protects the rights of both the buyer and seller during the sales process. They provide proper guidance on title deed transfer, payment of the sale price, and tax obligations. Additionally, the lawyer checks whether the property has any legal encumbrances, such as mortgages, liens, or pending legal actions.

Mortgage and Pledge Transactions

A mortgage is a transaction where an immovable property is used as collateral for a loan, and in case of non-payment, the creditor has the right to sell the mortgaged property to recover the debt. Mortgages are one of the strongest forms of collateral and are typically associated with financial transactions like home loans.

When buying or selling mortgaged property, the most important consideration is ensuring that the legal procedures for lifting or transferring the mortgage are correctly followed. A real estate lawyer ensures that these transactions are carried out in accordance with the law.

Lease Agreements and Tenant Rights

A lease agreement is a contract between a property owner and a tenant, specifying the rental terms and conditions for a property. Although a written agreement is not legally required for the validity of a lease, it is important to have the agreement in writing to protect the rights of both the tenant and the landlord.

A real estate lawyer protects the rights of both the tenant and the landlord by drafting appropriate lease terms. Key provisions should include the tenant’s right to occupy the property, the determination of rent, rent increases, and any modifications to the property. Additionally, in situations where a lease ends, rent is not paid, or eviction is required, it is important to seek legal assistance to protect both parties' rights.

Real Estate Law in Partnership and Property Division

Property ownership and division are frequently contested in cases involving divorces or business partnerships. When properties are shared between spouses or business partners, the legal process of property division must be followed. Factors such as the registered name on the title deed, ownership shares, the condition of the property at the time of acquisition, and other relevant details are considered during property division. A real estate lawyer helps protect the client's rights and ensures the fair and legal distribution of property.

In cases of contested property division, such as in divorces or fraudulent transfers, legal support is needed to navigate the complex issues.

Construction Law and Real Estate Development

Construction law is an important part of real estate law. Construction contracts provide the legal foundation for projects involving real estate development. These contracts outline crucial details, such as project start and end dates, costs, the parties' responsibilities, and warranty periods. Properly drafting construction contracts is vital for both the contractor and the property owner.

Additionally, legal issues related to construction, such as work accidents, missing building permits, environmental regulations, and other disputes, can be resolved with the help of a real estate lawyer.

Real Estate Taxes and Legal Obligations

Real estate transactions, including buying, selling, and leasing, incur various tax obligations. Taxes such as property tax, capital gains tax, and transaction fees in the land registry should not be overlooked. Both property owners and buyers need to be informed about these taxes. A real estate lawyer can provide advice on these taxes and help avoid potential legal issues.

Conclusion

Real estate law covers a wide range of transactions related to immovable property. Issues like property rights, buying and selling, lease agreements, mortgages, and construction contracts must be managed by a specialized real estate lawyer. Before engaging in any real estate transaction, ensuring that legal processes are correctly followed is crucial to prevent legal problems. Working with a specialized lawyer in real estate matters can save time and money while safeguarding your legal rights.