Real estate inheritance law for foreigners in Turkey
Updated: Aug 2, 2022
One of the many reasons why foreigners are investing in Turkey’s real estate market is the simplified policies for property ownership and the numerous perks associated.
While some countries grant the right for foreigners to own properties for life or for a specific period of time like 99 years, Turkey allows the inheritance of the real estate for the deceased's offspring within certain conditions through the real estate inheritance law.
Real estate inheritance law for foreigners in Turkey:
According to the Turkish law for real estate inheritance, when inheriting a property, the ownership is transferred from the deceased to the heir/s and during this process, an "inheritance tax" is applied, which is considered a relatively low tax compared to European countries.
The inheritance tax ranges from 1% to 10%, depending on the inheritor's residential status and the property's location, and is paid by the rightful heirs, divided on them in the same arrangement of inherited shares.
The heirs:
For foreigners, the inheritance law within Turkish real estate is conducted according to the deceased’s will, however, if there was no will, the inheritance will be subject to the Turkish law which broadly states that the deceased’s children get 50% of the inheritance and the spouse takes the other 50%.
In case the deceased’s parents and grandparents were alive, then they will also have a share in the inheritance of the property.
If the deceased had no children, the deceased’s siblings get included in the inheritance.
Nonetheless, foreign heirs could choose to get their inheritance according to their country’s law if all the legal and rightful heirs agreed to this decision.
The inheriting process is done lawfully by assigning a real estate lawyer who would arrange the “inheritance inventory”, a document that determines the names and shares of the heirs, keep in mind that the regulations of the inheritance are accomplished when the deceased is cleared from all loans, taxes, and any financial debts.
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