Right of Pre-emption Under Turkish Law Turkish Civil Code provides two types of pre-emption rights without providing a definition: one is the contractual pre-emption right and the other one is the legal pre-emption right. A contractual pre-emption right is one conferred by a contract. Any property owner can conclude a contract with anybody empowering him/her [...]
Co-Ownership by Shares The first type of co-ownership that Turkish Civil Code regulates is “co-ownership by shares”. The Turkish Civil Code defines the co-ownership by shares in Article 688 as “where a certain things are in the ownership of several persons, each of whom owns a share of it and yet it is outwardly undivided, [...]
Turkey’s parliament has approved an omnibus law which introduced an exemption of 18 percent of value-added tax (VAT) for foreigners who invest in real estate in Turkey. The law, which was passed by parliament late on Feb. 23, will also be applicable to Turks who live and work abroad for more than six months. Foreigners [...]
Foreigners from a number of countries, with Arabs taking the lead, are buying real estate in the eastern Black Sea region, which comes to the fore with tableland tourism. Attracting real estate investors particularly from the Gulf, a total of 2,842 houses were sold to foreigners with an increase of 155 percent from 2016. According [...]
Acquiring real estate of foreign real person and foreign legal person is ordered in the article 35 of Land Registry Law 2644. According to this; With the reservation of reciprocity and compliance with legal restrictions, foreign real person can acquire real estates, where falling under the real estate use or locality development plan in central [...]
