Adding or changing owner on TAPU

[Mack]

Hi all, Ive had a search and cant find the exact advice Im after so maybe someone can help?

Im looking to buy an apartment in Antalya but as Im a cheapskate (sorry, I meant wise and cunning investor) will be getting a bargain FSBO one The main problem (as always) is the military clearance as most of the money desperate sellers wont wait for that and bargain properties wont hang around (at least not here in Antalya), I understand the overpriced touristy ones will do deals etc but Im not looking at those.

I dont want to buy it in the company name which would speed it up as I dont want it to be a company asset, I was thinking of buying it with my Turkish wifes name on all the paperwork then adding me to the TAPU after the sale or even transferring the whole TAPU to my name (which she's quite happy to do, bless her, but Im not fussed really as long as Im on there somewhere).

Has anyone come across this before and if so does anyone know the "proper" procedures. Ive been to three lawyers and got three different explanations none of which sound right, and I trust the TLF "gang" way more than them

 

[flowerpotman]

I would think that buying in your wifes name will get the property quickly. When tapu is in her name you can go through the process of buying it from her or a 50% share , military clearence will be required as you are a foreigner and you will have to pay tax to Tapu office again.

 

[Mack]

Thank you for your reply, yeah, it would be nice to get the sale "done in a day" with the Turkish parties involved only and then of course I trust my wife completely whilst waiting for clearance etc but do you know what the later tax implications are? Is it as simple as her "selling" either the whole or a portion to me? If so what has to paid at that point? Does the 4 year capital gains rule apply to Turks too?

 

[peter the postie]

Yes it does Mack. Is'nt it 5 years now too?

 

[Mack]

Yes it does Mack. Is'nt it 5 years now too?

Thanks Pete, damn, is it really? 5 years? Just so i got it straight too, its 40% of the profit on the sale yes? ie: TAPU value to new TAPU value?

 

[flowerpotman]

if she sold the whole to you or a percentage at the price she paid you would be liable for 3% tax at tapu office only plus military check. Some one will come along and tell me if i got it wrong. I looked at this route for land purchase and was told at tapu office it would be 1.5%.

 

[Dalaman Deli]

Don't forget Mack, if the sale goes through into your wife's name before the end of June you (or your wife) will pay the reduced deeds tax fee of 1% (instead of 3%).

If you then go on to purchase 50 or 100% from her, you will need the maps from the Kadastro and the Belediye office for the military search. These vary from area to area so you will have to check the costs out. (In Dalaman they are currently 230TL for the Kadastro maps and 10TL per m2 of building size for the Belediye ones). You will also need notarised copies of your passport.

When the search comes back you will pay 3% deeds tax on the price paid, plus around 100TL Tapu office admin fees (this also may vary from area to area). You will need an official translator and the notarised copes of your passport.

If there is no capital gain when your wife sells to you, there will be no tax to pay. You will then need to hold the property for five years from the date on your tapu if you don't want to pay capital gains tax (called personal income here) when you sell.

This is the link to the Turkish Economy website taxes page. 7.2 explains about gains from property and 7.2.10 is about personal income tax.

Property related Taxes and compulsory insurance in Turkey

Hope this helps.

 

[Mack]

Don't forget Mack, if the sale goes through into your wife's name before the end of June you (or your wife) will pay the reduced deeds tax fee of 1% (instead of 3%).

If you then go on to purchase 50 or 100% from her, you will need the maps from the Kadastro and the Belediye office for the military search. These vary from area to area so you will have to check the costs out. (In Dalaman they are currently 230TL for the Kadastro maps and 10TL per m2 of building size for the Belediye ones). You will also need notarised copies of your passport.

When the search comes back you will pay 3% deeds tax on the price paid, plus around 100TL Tapu office admin fees (this also may vary from area to area). You will need an official translator and the notarised copes of your passport.

If there is no capital gain when your wife sells to you, there will be no tax to pay. You will then need to hold the property for five years from the date on your it if you don't want to pay capital gains (called personal income here) when you sell.

This is the link to the Turkish Economy website taxes page. 7.2 explains about gains from property and 7.2.10 is about ersonal income tax.

Property related Taxes and compulsory insurance in Turkey

Hope this helps.

Couldnt be more concise, thank you very much DD, helps a lot. I know what Im letting myself in for now...................could have used your advice before getting married too

Thank you :blowkiss: