What is Deed?

What is Deed?

The deed is a document that proves the ownership of the property. It can be used for both real estate and personal property. The deed should include the date, the names of the grantor and recipient, and a description of the transferred property.

The title deed usually transfers ownership through the description of the ownership and the selling price. The buyer pays the purchase price and in return receives the title deed to the property registered at the local land registry office.

A deed is a document that transfers ownership of a property from one person to another. It is often used for real estate transactions and other types of transactions, such as the transfer of shares in a company.

What Do the Colors of the Deed Document Mean?

There are two different types of deed, pink and blue.

Deed documents with blue and pink colors are the same in design and content, but differ from each other in terms of their qualities.

The blue title deed indicates that the real estate is a land, that there is no building on it, or that the construction of the building has just begun, that it does not have a condominium. The lands with a blue title deed indicates that the property has not yet been transferred to the condominium.

The pink title deed indicates that after the completion of the construction of the property, there are approved independent sections in the project, the usage areas of the property and certain shares. Pink-colored title deeds are given to properties whose condominium has been taken.

Types of Deeds

There are three types of title deeds; Floor Easement Deed, Floor Ownership Deed and Shared Deed. It is important for property owners or those who want to have them to know these varieties.

1- Floor Easement Deed

Construction servitude is established in order to indicate the shares of the right holders on the structures that have not started or are in the construction phase. The land under construction is registered by the Land Registry Directorate. The building, which has the title deed with floor servitude, is registered with the Land Registry Office; Therefore, it is an official document. In summary, title deeds of independent sections in buildings that do not have a residence permit; floor easement deed.

2- Condominium Title Deed

It is the official document of ownership of parts (warehouse, floor, shop, etc.) of a building whose construction has been completed. It documents that the owner of the Land Title Deed is independent. In this document, the characteristics of the building are specified (square meter, quality, parcel area, etc.). The title deed in the form of construction servitude can be converted into condominium ownership of buildings that have been legally constructed and have a residence certificate. It is suitable for those who want to own property with credit.

3- Shared Deed

It is the title deed document stating the names and numbers of the right holders on the immovable. In this document, each shareholder’s share is divided equally, but it is not clear which area belongs to which shareholder. Not eligible for credit.

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