Real Estate Law
Immovable (Real Estate) Property
Immovable (Real Estate) Property is related to the properties that are fixed on a location and impossible to move from one place to another like a field, land, vineyard and garden. Rights on the independent and permanent lands and minerals that are registered with the land Registry are included in the immovable properties (Turkish Civil Law 704). The limited property rights emerge, as a rule, upon the registration with the Land Registry (TCL 705). Based on the number of the owners, the immovable ownership is separated into two: individual ownership and collective ownership.
Individual Ownership is the case if the ownership right on the property belongs to only one person.
Collective Ownership is the case if the ownership right on the property belongs to more than one person. The Collective Ownership is separated into two: Shared Ownership and Co-Ownership. When more than one person owns the shares of a property and if the shares are not actually divided, this is called Shared Ownership (collective, common, shared) (TCL 688). When more than one person collectively owns a property because of a pre-existing basic relationship between them, this is called the Co-Ownership. It applies only in cases where the law stipulates.