Firstly, what is a title deed?
Title deed is an official document that shows the ownership rights of real estate such as land, fields and residences. In Turkey, title deeds are regulated by the General Directorate of Land Registry and Cadastre and prove the owner’s legal rights to the real estate. Title deeds, which show who owns an investment property, legally guarantee ownership rights. Deeds, which are used as official documents in transactions such as buying and selling, inheritance and donation, are accepted as proof of ownership in legal cases.
Transition from Traditional Deeds to Digital Deeds
Today, deeds, which are the most important documents officially documenting the owner of an estate and his/her rights on that estate, are now being prepared to be presented in digital medium. But what is a digital title deed? Digital title deed, also known as web title deed, is an information system that enables all citizens and companies registered in the trade registry to track and manage their real estate in an electronic medium. The digital title deed, which is also a very practical system for foreign investors, is expected to bring many innovations and conveniences.
What are the Advantages of Digital Deeds over Traditional Deeds?
According to the General Directorate of Land Registry and Cadastre, with digital title deeds, buildings can now be registered and inspected in a more transparent and reliable manner. In this way, buildings can be digitally archived. Compared to the old title deeds, digital title deeds contain only the necessary information. In addition, real estate transactions moved to the digital environment are becoming faster, safer and more transparent.
Officials claim that digitalization will provide serious convenience, especially in the real estate industry. It is also stated that this application will make significant contributions to Turkey’s digitalization vision. And finally, all real estate records are expected to be digitized by 2030.
