Three years holding commitment
You have to annotate a commitment in the title deed office that you are not going to sell the real estate(s) for three years after the real estate transfer process. Three years holding commitment may be annotated either at the same time with the title deed transfer or after the title deed transfer.
If you are buying one or more real estate(s) from the same seller within the borders of the same Title Deed Office, you can make a three years holding commitment at the same time as the sale transaction. In this case, the seller states that he wants to sell the real estate(s) while applying to the Title Deed Office, and at the same time, the buyer will make a commitment that this real estate(s) cannot be sold for three years. It is not mandatory to do it at the same time. You can also do it in another application that you will make by yourself after obtaining the real estate(s).
If there are more than one real estate and not sold by the same seller in the same Title Deed Office at the same time, commitment will be applied later. In this case, two different ways will be followed depending on whether the real estates are in the same Title Deed Office.
- If the real estates are in the same Title Deed Office: in this case, it is requested to make the commitment that you will not sell the real estates for three years by applying directly to that Title Deed Office.
- If the real estates are in different Title Deed Offices: in this case, the commitment will be made in one of the Title Deed Offices and that Title Deed Office asks for entrustment from the other Title Deed Office. Unfortunately, a Title Deed Office does not have the right to make the commitment on the real estate(s) of another Title Deed Office. You can annotate all real estates’ commitments in the entrusted title deed Office.
E.g; You purchased three real estates in total in Beylikdüzü/Istanbul, Çankaya/Ankara and Nilüfer/Bursa. How do you proceed in this case? You will apply in one of these Title Deed Offices, for example Beylikdüzü Title Deed Office. In this situation, Beylikdüzü Title Deed Office will ask for the entrustment from Çankaya Title Deed Office and Nilüfer Title Deed Office. You can continue your transaction for all three real estates in Istanbul Title Deed Office after the entrustment given from Çankaya Title Deed Office and Nilüfer Title Deed Office.
Payment receipts have to be presented to the relevant Title Deed Office. After the Title Deed Office calculates 250,000 USD for all three criterias specified in title 5 (after the authorization is obtained in case more than one real estate is in different Title Deed Offices), title deed office will send a message for the appointment date and then you will sign for the commitment. After signing this annotation, you cannot sell your real estate(s) for three years.
In cases where the seller applies, the seller presents the payment receipts as well. You can sign the annotation during the deed transfer.
We would like to make another point clear which investors usually get confused about. At the end of three years, you cannot directly sell your real estate(s). As a first step, this annotation has to be removed. This would be done by applying to the Title Deed Office in the same way. After three years, the Title Deed Office removes the annotation upon your application and your real estate is now ready to be sold.