What is Ferag Giving, How is It Done? Everything You Need to Know in Real Estate Transfers What Does It Mean to Not Give Away? Ferağ giving is the official transfer of a real estate to another person in the title deed. In other words, it is not a promise of sale or verbal agreements, but an official registration process performed at the land registry directorate and in which the property changes hands legally. Every step made in the title deed in transactions such as real estate investment, land sale, housing purchase is of great importance. Dec. The Ferag process is the most critical stage of this process. As CEESS Global, we offer support with our expert staff for property owners and buyers to perform this transaction without errors. What are the Types of Donation? Ferağ transactions are divided into two according to the way the real estate is transferred: Ivazlı Ferağ: It is a transfer transaction made for a price. It is often seen in sales of apartments for sale, land for sale or commercial property. Dec. Ivazsiz Ferağ: Donation is a ferağ made without paying any price, such as inheritance. It is common in intra-family real estate transfers. The Difference Between Decontamination and Real Estate Sales As CEESS Global Real Estate, we would like to emphasize that while the sale of real estate includes a contract and a commitment, ferağ is the formalization of this contract in the deed. In short, the sales contract is an “intention”, while ferag is an “actual transfer of ownership”. How Does the Transfer Process Work in the Title Deed? Required Documents:  Valid IDs  Title deed  Property tax declaration value  Tax termination certificate  Compulsory Earthquake Insurance (DASK)  Power of Attorney (if necessary)  Photos taken in the last 6 months The process is initiated by making an appointment with the land registry directorate together with all these documents. At CEESS Global offices, we save time and energy with our consultants who follow all this process for you. Ferag Transactions in Share Deeds Especially when it comes to land sales with shares, land with joint title deeds or inherited real estate, ferag transactions should be carried out more Decently. Each shareholder can transfer his/her own shares. The right of Shu'fa (right of priority) should be protected. In case of dispute, an icbar lawsuit may be filed. What Steps Do the Buyer and Seller Follow in the Deed? A land registry appointment is made The documents are completed Land registry fee and revolving capital are paid A ferag declaration is made in the presence of the land registry officer The title deed is issued in the name of the new maliki Legal Details and Title Deed Fees Land Registry Fee: Buyer and seller pay 2% (4% total) Revolving Capital: Land registry is the cost of service Property Tax: Passes to the new owner Tax on the Gain on Increase in Value: Can be paid by the Seller Notary Agreements and Proxy Transactions Notary sales promise agreements provide a temporary guarantee until the renewal of the deed Ferag transaction can be performed with Power of attorney (must be notarized and specially authorized) Who Is Ferağ Giving Advantageous For? Real estate investors Family members who share inheritance Property owners in urban transformation areas Inheritors of real estate in receivable-debt relationship Frequently Asked Questions Can Ferag be canceled? → Yes, only by court order, disability of will (cheating, threats, etc.) if any. Are the contracts made at the notary valid? → Yes, but in order for the ownership to pass, the ferag transaction must be made in the title deed. Can the transaction be performed by proxy? → Yes, it is possible with a notary's power of attorney containing special authority.