May 5, 2024
In the process of buying housing, how to share property is an important decision point. In this regard, “Can a joint deed be made on a mortgage loan?” The question is often raised. Although housing loan applications can usually be made individually, more than one person can also apply with a joint deed.
A common deed means the division of property rights over housing between more than one person, to put it simply. “How to understand the common deed?” The question is an important part of this process. All partners applying for a housing loan share the obligation to pay off the loan debt. This allows for greater flexibility in sharing ownership but also increases the responsibility of each partner.
A joint deed is a type of title that ensures that a property is owned by more than one person. This system makes it possible to share property equally, especially between housemates, family members or business partners. This system, also known as joint title, is used to determine the rights and responsibilities of partners.
A joint deed, in other words, is a document in which more than one person shares ownership rights over the same property. In this document, the property shares between the partners are clearly indicated, and their responsibility for the use, maintenance, expenses and expenses of the property are regulated by a written agreement. It is also a document of great importance in order to prevent disputes that may arise in the future and to ensure that the property is managed in an orderly manner. Having a written partnership agreement defines in more detail the rights and responsibilities of partners. In this way, a clear roadmap can be created for each partner.
“Is a joint deed divided?” The question may also come to mind at this point. The division of common property usually requires the agreement of the partners and the approval of the title office. It includes the process of division of property, the issuance of separate deeds, and also the redetermination of property rights.
When buying a house using a mortgage, title deeds play a rather critical role. Banks want there to be no uncertainty over the title deed in loan claims. On the other hand, it is also possible to make a joint title to a house taken with a housing loan, but certain conditions must be met for this process.
First of all, for those who want to buy a house with a housing loan, it is necessary to have at least two parties in order to make joint title arrangements. Banks give consent by carefully examining the income documents and credit notes of persons applying for a loan. It is important that the house to be purchased has its eligibility for a housing loan, that is, it is indicated in the title deed registration as housing and there is no record of foreclosure on it. When these conditions are met, transactions can also be initiated.
To handle all these processes more easily and quickly, you can work with professional service providers such as Indeksa. Our team at Indeksa guides you through housing loan and title deeds, helping you complete the process smoothly. You can contact our team for more information and support.
A joint purchase of a title deed is a formal process, like a normal deed acquisition process, and is carried out in the land registry office. At this point, when obtaining the title deed, the process proceeds with the following steps:
The authorized person for the sale of a share deed must go to the land registry office or send an authorized person through a notary. During this process, whether outside of Istanbul or House options for sale in Kadıköy Whether you have a search between, it is necessary to prepare the right documents and follow the procedures thoroughly. During a joint acquisition of title deeds, the correct and complete execution of transactions is important from the point of view of the protection of property rights.
If you think you need expert support and guidance in your search for a home, you can take advantage of our Indexsa real estate consulting service. All questions you may be wondering about, from the joint deed to the sale of a house, will be answered by our experts.
Couples whose marriage is in progress can jointly arrange the title of the house they purchased with a housing loan. However, according to the relevant article of the Turkish Civil Code, all property acquired by couples after marriage is considered common property. So, married couples do not need to arrange the deed to the house, which they received with a housing loan, forming an additional partnership.
In the application for a home loan, the total income of the household is evaluated, and the spouse's income and the credit rating stand out as a critical factor in the approval process. For example, House for sale in Göztepe married couples looking for a home loan must submit both spouses' income documents and credit notes to the bank when applying for a home loan. In the process, banks issue credit approval based on the total income of the spouses and their credit rating. The deed to the house, taken on a housing loan, can be issued as a joint deed of husband and wife, and both spouses are entitled to ownership of the house.
The title charge can be summarized as the deed service fee received during the purchase and sale of immovable property. In order to carry out these operations, it is necessary to deposit the mortar. The same fee rules apply during the procurement of a common deed or the separation of title deeds. So, who pays the cost of joint title?
In such transactions, the deed fee is usually divided equally between the buyer and the seller. But unless there is a different agreement between the parties, the partners have to share this expense among themselves. This also applies to title deeds between husband and wife or siblings.
The deed separation fee is another expense paid during the separation of common property and the conversion of shares into separate deeds. The cost of this transaction is also usually shared among the shareholders. However, if you still have questions about who will pay the title fee, you can contact our team at Indeksa and ask for advice from our experienced specialists.
Apartment for sale in Istanbul Those who are looking for a deed may wish to obtain a deed for 2 persons. But when a joint deed is made to the house received on a housing loan, it is necessary to pay all debts regularly on the specified dates. In case of disruption of regular monthly payments, all partners are held liable for the debt. In the event that the debt continues, legal follow-up actions can be initiated, which can progress to foreclosure or disposal of the mortgaged property.
If a deed was received on two persons, and one of the parties cannot make their payments, since both partners are responsible for the entire debt, the legal process can be initiated. Preventing such a situation is possible with careful implementation of payment plans.
“How to return joint title to deed belonging to one person?” The question is also important in this context. To make such a change, it is necessary for the current owners of the land to contact the land registry office by agreement. During the transfer of title deeds, it is necessary to prepare the necessary documents and pay the title fees.
A joint deed arrangement offers several advantages and disadvantages in the division of property. This arrangement ensures equal sharing of rights and responsibilities between property owners, but it can also bring some risks. Here are the advantages and disadvantages that can be mentioned in general:
With a transparent planning on the division of property, a joint title arrangement can strengthen relations between the parties and allow effective management of property.
All shareholders must agree on the sale of the real estate and be present at the time of the deed in order to be able to sell the share deed. If not all shareholders are eligible for the transfer of title deeds, the sale process can be executed by issuing a power of attorney. But if one of the shareholders does not want to sell the property, he has the right to sue.
Only if there is a sale of a specific share, the other shareholders must be notified of the right to purchase in priority through a notary. Shareholders may acquire their shares at the specified sale price or, if they do not wish to purchase, the share may be sold to other buyers. If one of the shareholders sells without complying with these rules, other shareholders have the right to file a preemptive lawsuit.
The flexibility and order provided by the joint title system offers a more transparent and seamless process in property sharing. To learn more about this system and to be able to make the sale of your property in the most accurate way, you can contact our expert consultants. For example, what our team at Indeksa offers Kadıköy real estate consultant with the support of which you can easily carry out sales transactions on joint deeds.
