What is Kat Mulkiyeti (Property Ownership) and How is it Established?
Kat mulkiyeti (property ownership) is a significant concept in the real estate sector, referring to the ownership right established over the independent sections of a building. This right allows areas such as apartments, shops, or storage units to be used and managed independently from one another, offering property owners various advantages in terms of both use and management. So, what is property ownership and how is it established? Let's examine this important concept in detail.
What is Property Ownership?
Property ownership is a special type of ownership established over the independent sections of a completed building. This type of ownership not only covers the rights over the independent section but also includes the land share and common areas of the building. For instance, an apartment or business owner has the right to use the shared areas of the building such as the stairs, elevator, and parking lot.
Property ownership provides the property owner with legal assurance that the property has been completed and is safe for use. This type of ownership is particularly important for real estate investors, offering a significant level of security.
How is Property Ownership Established?
Property ownership can be established in three different ways:
Established Voluntarily: Upon the request of the property owner or all stakeholders, an official deed is issued by the land registry officer, and property ownership is officially registered in the land registry. This process provides legal assurance to property owners.
Established by Court Decision: In cases where there is a dispute among the stakeholders, property ownership can also be established by a court decision. This method is usually preferred in cases of conflict.
Established Based on Construction Servitude: Construction servitude is a preliminary ownership right established over the independent sections of an unfinished building. Once the building is completed, construction servitude can be converted into property ownership.
Differences Between Property Ownership and Construction Servitude
Property ownership and construction servitude are often confused concepts. Property ownership refers to the ownership right established over the independent sections of a completed and ready-to-use building. Construction servitude, on the other hand, is a preliminary ownership right established over the independent sections of a yet-to-be-completed building. Construction servitude can be converted into property ownership once the building is completed and the necessary permits are obtained.
Advantages of Property Ownership
Property ownership offers many advantages to property owners:
Right to Independent Use: A person with property ownership has the right to use, sell, or rent their independent section as they wish. This provides great flexibility and investment opportunities for property owners.
Reliability: Property ownership proves that the building has been completed and is safe for use, giving property owners confidence.
Legal Protection: Property ownership ensures the legal protection of ownership rights over the property. This means that property owners have legal security regarding their rights.
Things to Consider in Property Ownership Processes
It is very important for property owners to ensure that property ownership processes are carried out correctly. During this process, the legal status of the property, the ratios of land shares, and the boundaries of independent sections should be carefully examined. Working with an experienced real estate lawyer during the establishment of property ownership can help prevent potential legal issues.