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What is Floor Ownership?

What is Floor Ownership?

What is Floor Ownership?

What is Floor Ownership? Condominium Ownership refers to the ownership right of independent parts of a building built on the land. In order for the property right to be established, there is a condition that this building must be given a residence and use permit, that is, a  settlement has been received. The right of floor ownership is formed by the registration of the ownership right of each independent section and the status of shares, if any, to the land registry office. A condominium tells you that you have all kinds of rights on the property, that the property is officially owned by you, and that you have a residence permit on the property. It allows you to purchase natural gas, electricity, and water subscriptions. You can click for the Property Ownership Law.

How to Tell if the Title Deed is a Condominium Ownership?

When examining a deed, there is a line indicating the type of deed, right above the line where the sales price, quality, land share phrases are located. If the condominium section is marked here, the title deed you are viewing is conditional. In the image below, it is stated where the sign of the condominium deed should be. 

What is Construction Easement?

The title deeds given for properties purchased from unfinished buildings are referred to as floor easement deeds. The building to be built on the land can be created after obtaining the license approval and is used until the property right is acquired. It can be considered as a title deed that explains the characteristics of a building to be built, how the independent sections will be formed, and allows the transfer of the plot share of the independent section to be purchased on the plot. However, as long as the building is not occupied, the property right is not acquired. In simple terms, the Floor Easement deed is a sub-level of the condominium deed.

How to Understand that the Deed is with Flat Easement?

We have just mentioned the line on the deed where the type of deed is specified. If the floor easement section is marked in this area, the title deed has floor easement. You can understand which part of the deed you will examine on the visual below.

What are the Documents Required to Establish a Floor Easement?

  • Building License
  • Architectural project approved by the relevant Municipality
  • Situation plan
  • Numbers indicating independent parts
  • Photocopy of the Deed
  • Identity Card (Land owner)
  • Management Plan
  • Land share account determined for each independent section

How to Set Up Construction Easement?

After the documents mentioned above are prepared, you need to apply to the municipality where the license was obtained. After the municipality approves the architectural project, land shares and number system, an application is made to the Land Registry and Cadastre Directorate. When the application in the land registry cadastre is approved, your deeds with easement can be obtained from the land registry office of your district.

What are the Documents Required for the Transition to Floor Ownership?

  • Floor Easement Deed
  • Birth certificate
  • Settlement Certificate
  • Landmark Sketch where the final state of the completed building is measured

How to Transition to Floor Ownership?

Whether or not established with construction servitude, the properties that have been settled are suitable for the project and suitable for residence. It is sufficient for any of the owners to apply to the land registry cadastre directorate in order to issue the condominium deeds through the independent sections determined on the approved project. You do not pay any fee for the application made to the land registry cadastre with the documents mentioned above. When you complete your transaction with the revolving fund fee, you can issue your condominium deeds for all independent sections. The transition of any flat owner to a condominium will enable the transition of all properties in the block to the condominium.

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