Turkey real estate dictionary

What is Depreciation? Calculating the annual wear and tear rate of fixed assets with tangible value and determining it as an expense is called depreciation. It includes tangible assets such as immovables and infrastructure (plumbing, roads, etc.). It is mostly calculated as annual depreciation value and recorded in the expense section of the ledger. Under the Tax Law, the maximum depreciation amount can...

What is an American Kitchen? An American kitchen is also called an open kitchen or an open-plan kitchen. In the American kitchen, the living room and the kitchen are located together in one room. There is no separating wall between the living area and the kitchen. Stronger ventilation systems are used in the American kitchen to prevent the spread of odors from the kitchen to the living area. American...

What is Infrastructure? Infrastructure is the whole of systems such as roads, water, electricity, natural gas, waste water and sewerage, internet and telephone that meet basic and special needs in buildings and settlements. Infrastructure systems also ensure that communication and transport networks between individuals and communities remain operational. Such systems can be operated by community...

What is Publicity? Publicity means the openness and clarity of something. It forms the basis of the principle of publicity in the Land Registry and Cadastre terminology. The principle of publicity in the land registry means that the land registry information is only available to the relevant persons. This principle is protected by the Turkish Civil Code. Anyone who proves to official institutions that...

What is a Smart Home? Buildings that meet the needs of the home owner with autonomous systems and shape the house according to their personal tastes are called smart homes. Home automation systems include security systems, electricity usage, home climate, lighting and automation of other electronic items in the home. Smart homes can be managed via smartphones. Homes developed with autonomous systems; It...

What is Dues? The payments made by the members of a community for the expenses of the collective area where they live or use are called dues. Tenants and flat owners are obliged to regularly pay the amount of subscription determined by the management. The dues paid to cover the expenses in the common areas are divided into many types in itself. The expenses of the apartment are covered by the people who...

What is Ahz-u Kabza? Ahz-u kabz means "to collect the price" and it means that the taxpayers authorize the lawyers to collect. It is also referred to as ahzu kabza or ahzu kabz in the contents of the power of attorney. If the client authorizes the attorney to have ahz-u kabza, this means that the attorney can collect or pay money in official institutions on behalf of his client. This authority is...

What is Ahde Vefa? Ahde vefa literally means "to keep one's word". In real estate terminology, this concept is expressed as the expectation that the conditions in the contract will be fulfilled by the parties. Legally, it means commitment to the contract. It states that the persons bound by the contract have to keep their promises of their own free will. According to this concept, the debtors of a...

What is an Island? In the real estate sector, an island is a set of publicly owned parcels surrounded by natural and artificial borders. It is simply a collection of parcels on the zoning plan. It is used in zoning planning and makes it easier to determine the title deed information. It is defined as the formations of streets, squares, avenues, streams or railways that are included in the zoning plans...

What is Open Tender Procedure? The open tender procedure is a form of tender that is open to participants and anyone who wishes can bid. In this case, the tender is announced to the public and each candidate is expected to prepare a letter of offer. The offer letter represents the candidate's budget for the job. The open tender procedure is simply the competition of the candidates over the tender...