A unit in a building registered at the land registry as a separate property in its own right.
Once the building is completed and the occupancy permit issued, each flat, shop or office is registered on the deed as a property in its own right. This is called condominium ownership. If the deed says "condominium ownership", the building is legally finished and has been found fit for use.
Why it matters to a buyer: a flat under condominium ownership is the most trouble-free deed type in a bank loan assessment. The same holds for the seller; it leaves no question marks in the bargaining.
Related terms
- Construction servitude (kat irtifakı)
- Occupancy permit (building use permit)
- Mortgage eligibility
- Title transfer
Do you need help with this?
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