Shared Title Deed: The Subtleties of Shared Ownership - CEESS Global Real Estate Company's Guide

A share title deed refers to a situation where ownership of real estate is shared between more than one person. This is a form of title deed that allows for the management of joint ownership, especially among family members or investors. In the real estate market in Turkey, shared ownership occurs when real estate such as land, houses, workplaces, etc. are jointly purchased by more than one person for economic or personal reasons. However, this type of ownership sharing requires a clear determination of the rights and responsibilities of each stakeholder.

What is a Shared Title Deed?
A share title deed is a type of title deed that states that real estate is jointly owned by more than one person. In this type of title deed, the property is shared among the owners in the determined proportions. Each stakeholder has property rights equal to their share in the title deed and these rights are clearly stated in the land registry.

How to Buy and Sell a Share Deed?
The purchase and sale of a shared title deed is similar to normal title deed transactions, but the consent of all shareholders is required. If all shareholders of the property can agree on the sale, the title deed transfer can take place at the land registry office. However, if any of the shareholders do not consent to the sale, the sale cannot take place.

Objection to Share Deed Sale
One of the owners of a shared title deed has the right to object to the decision of the other shareholders to sell the property. In this case, the objection may result in the suspension of the sale process, as the approval of all shareholders must be obtained for the sale process. The legal validity of the objection can be appealed to the court.

Share Deed Sale Cancellation Case
If a sale of a share title deed has taken place without the consent of one or more of the shareholders, such shareholders may file a lawsuit for the annulment of the sale. Such lawsuits are usually brought by shareholders who claim that the sale was irregular. The court evaluates and decides on the legality of the sale.

What are the Risks of a Share Deed?
One of the biggest risks of a share deed is the need for all shareholders to agree on any major decisions. This can lead to disagreement between shareholders, especially in situations such as urgent sales or investment opportunities. Also, foreclosure proceedings can be initiated on the property due to one shareholder's debts, which can negatively affect the rights of other shareholders to the property.

These are among the main issues and considerations that owners of title deeds with shares may face. In all cases, especially when large property investments are involved, working with an experienced lawyer is the best approach.

Expert Advice from CEESS Global Real Estate
As CEESS Global Real Estate Company, we aim to provide the best service to our clients in the management of shared title deeds and co-ownership. Our team of experts in shared title deeds is here to guide you through the management of your property and potential legal processes. You can benefit from our professional consultancy services for a peaceful and safe process in your real estate investments.