Information About Condominium Ownership, Its Relationship with the Real Estate Sector

The Condominium Law is a law that includes provisions regarding the ownership, use, management and sharing of independent sections (flats, workplaces, offices, etc.) in multi-storey buildings in Turkey. This law regulates the rights and responsibilities of flat owners and ensures the management of multi-storey buildings.

Here is important information about the Property Ownership Law:

1. What is Condominium Ownership?
• Condominium is a system in which each floor and flat in a multi-storey building is owned by a separate owner. Flat owners have ownership of their own flats, but common areas (such as elevators, stairs, roof, garden) are shared between flat owners.

2. Condominium Ownership Law:
• In Turkey, condominium regulations are determined by the Condominium Law (No. 634). This law regulates the rights and obligations of flat owners.

Rights and Obligations of 3rd Floor Owners:
• Flat owners have the right to use, manage and transfer their ownership of their independent sections. They have obligations regarding the use and maintenance of common areas.

4th Floor Easement:
• Floor easement is a system that regulates the rights of flat owners of a building under construction before it has become a flat ownership. When the floor easement ends, condominium ownership begins.

5. Condominium Management:
• Condominium management is carried out by a manager to manage the building's maintenance, security, cleaning and common expenses. The management plan and budget are created and submitted to the floor owners for approval.

6. Meetings and Decisions:
• Flat owners hold regular meetings to discuss condominium issues. Decisions are usually made by majority vote, and special majorities may be required for important issues.

7. Common Expenses:
• Common expenses include costs such as building maintenance, security, water, electricity, cleaning. Flat owners are obliged to contribute to these expenses.

8. Changes and Permission:
• Flat owners generally must obtain permission from the manager and other flat owners when they want to make changes in their independent sections.

The Condominium Law provides a framework that regulates the rights and responsibilities of people living in multi-storey buildings and is important for the orderly management of the building. It regulates the relations between flat owners and ensures that common expenses are shared fairly. It is important to consult your local laws and regulations for more information regarding condominiums.