What is Condominium Easement? How to Obtain a Condominium Deed?

What is Condominium Easement? How to Obtain a Condominium Deed?

How much do you know about the real estate sector? If you are involved in a project process, do you have any idea how to protect your rights or what you can do during the process?

The real estate sector is very comprehensive and has different terminologies. These terms, which are complex for many people, contain details that must be known if you are involved in a process.

Here, one of them is the issue of condominium easement.

In this article, we will discuss what a condominium easement is, how it is formed and what kind of advantages it provides.

What is a Condominium Easement?

Floor easement, which is a type of title deed, is the process of allocating each floor of a building under construction, which has not yet been completed, among the right holders and registering it in the title deed.

In other words, before the building is completed, each floor is provided with a separate title deed limitation.

How is the floor easement created?

Condominium easement takes place close to the completion of a building in the construction process. It starts from the foundation laying process; the process progresses by adding each floor that emerges during the construction process. Each newly added floor is registered separately among the floor owners.

This process also ensures that each floor has a separate title deed when the construction process is completed and the project is finalised.

What are the Advantages of Condominium Easement?

1- Risk Management

Condominium easement recognises the rights of the owners in the projects while the building is under construction and not yet completed. This is important in order to protect the rights of the owners in cases such as construction delays or cancellations.

 

2- Transfer of Ownership

Thanks to the condominium easement, without waiting for the completion of the project, the floor owners have the right to put their floors on sale or transfer them to different buyers.

 

3- Financial Freedom

Right holders have the right to sell their shares even during the construction phase, without waiting for the completion of the project. This situation offers financial freedom to the right holders.

 

4- Assurance of Ownership

The condominium easement gives the owners the assurance of receiving the title deed documents in advance.

 

How to obtain a title deed for a condominium easement?

The title deed of condominium easement is made in order to document the administration of each floor in the building under construction. After the completion of the projects, it is a basic step to issue a title deed for a condominium easement in order to obtain house-flat deeds.

Here are the steps to be taken to obtain a title deed:

 

1- Get Information About Construction Status

As a first step, you should obtain information about the construction status in order to obtain a title deed. The outcome of the project, the progress of the construction and the completion date should be clearly learnt.

 

2- Apply to the Land Registry Office

In order to apply for a title deed, you need to go to the relevant Land Registry Office and make an application.

 

3- Prepare the Necessary Documents

Although the documents required for the application vary depending on the regions, the following documents may be requested in general:

 

Construction Application Certificate (available from the Land Registry Office)

Project licence and construction licence

Floor plans and details

Photocopies of the identity documents of the floor owners

List of the floors to receive a title deed for condominium easement

 

4- Başvurunuzu Tamamlayın

Gerekli belgeleri tamamladıktan sonra Tapu Sicil Müdürlüğü'ne başvurunuzu yapın.

 

5- İnceleme ve Onay Süreci

Başvurunuz incelenip onaylandıktan sonra Tapu Sicil Müdürlüğü, kat sahiplerine ait tapuların oluşturulması için gerekli işlemleri yapacaktır.

 

6- Tapu Teslimi

After the approval of your application, the Land Registry Directorate will deliver your document to you.

It is important that you apply to the relevant official authorities and follow the process closely in order to obtain a title deed. You can complete the process more easily by preparing the necessary information and documents during the application process.

Condominium easement is an important document that provides legal recognition of the rights of shareholders in buildings under construction. This arrangement must be made in order to protect the interests of both the floor owners and the construction company.