Owning a home offers various advantages such as increased value, passive income and a high standard of living for those who want to invest their savings. Of course, in order to take advantage of these privileges, it is necessary to pay attention to some issues. The concepts of condominium servitude and condominium ownership, which are stated in the title deeds, are at the forefront of these.
What is Floor Easement?
Construction servitude is the title deed taken during the construction of a building and expressing the ownership rights of the shareholders. This title deed is established to enable the sale of independent sections in buildings under construction. Accordingly, the ownership right of the shareholders is determined according to the land share in the title deeds with condominium servitude.
What is Condominium?
Condominium ownership is the title deed created by obtaining a residence permit for each independent section of the completed buildings. Therefore, the independent units of the condominium buildings such as apartments, shops or warehouses are their own title deeds. kazanit's getting worse.
What are the Differences Between Floor Easement and Condominium Ownership?
Deed qualifications, which express the right to property, are very important among the things to consider when buying a house. For this reason, before making a real estate investment, it is useful to know the differences between condominium servitude and condominium ownership.
- The most basic difference between floor servitude and condominium ownership is the certificate of occupancy. While there is no occupancy permit in buildings with floor servitude, this permit is among the most important conditions for transitioning to condominium ownership.
- In the construction servitude, the property right is stated in terms of land share; that is, all flat owners in a building are given a share of the land on the established area. In condominium ownership, the nature of the land is eliminated and the nature of the independent sections in the title deed is stated as building.
- Since a building can become a condominium only after its construction is completed, the risk of not being built in accordance with its project is eliminated. In buildings with condominium servitude, on the other hand, project errors may occur that may prevent the transition to condominium ownership. This means that there may be problems at the approval stage when taking a housing loan.
- In the case of the demolition of a building with a condominium servitude, the shareholders are given the right over the land share specified in the title deed, while the owners of the condominium ownership are entitled as much as the independent sections they own in case of reconstruction.
How to Install Floor Easement?
When it comes to the sale of buildings whose construction has not been completed yet, the question of how to make a floor servitude comes into play. Because, in order to establish a construction servitude on an immovable property, certain conditions must be met. Otherwise, the independent sections in the constructions under construction will not be sold.
Conditions for the establishment of a floor servitude:
- The construction on the land must not be completed.
- In order for a building to be subject to a construction servitude, the sections within the building must be independent and suitable for detached use. Thus, the feature of being registered in the land registry as a separate immovable property kazanNow these stand-alone units can be put up for sale without any problems.
- The construction servitude is established not for certain parts and floors of a building, but for all parts that are planned to be built within the whole of the project.
- Whether it is one or more than one shareholder, approval of all owners is required to establish a condominium servitude on a land.
Documents required for the establishment of a floor servitude:
- Identity document of the owner of the property,
- 4×6 cm passport photo of the owner of the immovable,
- Architectural project showing the exterior of the building, its interior divisions, independent sections, common areas of the main building and other project details separately,
- The application project and the three-dimensional digital building model of the architectural project, which must be arranged by the institution that approves the architectural project,
- A management plan document showing how the building will be managed.
- The site plan showing the location of the planned building in the residential area,
- An ordered list of independent sections including their shares and qualifications in the land.
After preparing the above documents in full, it is necessary to apply to the municipality to which the building is connected by preparing a petition for construction servitude application. This application process is not subject to fees and taxes, but a revolving fund fee is paid to the municipalities according to the tariff determined every year. Applications that are positively evaluated become official with a deed issued at the Land Registry Office, and the construction servitude is completed.
When is the Floor Easement Established?
As mentioned above, floor servitude is established during the construction process of a building. Therefore, it is not possible to establish floor servitude in buildings that have been completed.
How Can Floor Easement Be Converted to Condominium Ownership?
Although both express the right of ownership, those who want to own a house are more in demand for condominium buildings in order not to face situations where housing loans are not given. So, how is the construction servitude converted into condominium ownership?
The conditions of transition from floor servitude to floor ownership are as follows:
- First of all, it is not possible to establish condominium on a part of the building. This requires the approval of all owners who have the right of easement; However, in case of disagreement, this dispute can be resolved by going to court.
- After all the owners have reached a joint decision on the transition to condominium ownership, the building occupancy permit must be obtained by applying to the municipality where the building is located.
- If the building has been completed in accordance with the project, the transfer to the condominium can be completed by paying only the revolving fund fee, exempt from fees or taxes.