The floor ownership refers to shared ownership in projects under construction, while the condominium ownership represents completed and occupancy-permitted independent units. This content simply explains the differences between the two types of deeds.
One of the most commonly encountered concepts in the real estate purchasing process is the distinction between condominium ownership and condominium rights. Especially in areas with dense construction like Bodrum, understanding the difference between these two types of titles plays an important role in the purchasing process.
Condominium rights refer to the situation where a building is divided into independent sections on the land before it is completed. In other words, it is a type of title created during the project phase or while construction is ongoing. In this case, the property may not yet be physically completed, but it has been determined on the plan which independent section belongs to whom.
Condominium ownership, on the other hand, indicates that the building has been fully completed and the legal usage permit has been obtained. In this type of title, each independent section is recorded separately and clearly defined legally. In a property with condominium ownership, the buyer directly owns all the rights to the section they purchase.
The fundamental difference between these two structures relates to the completion status of the building and the official usage permit. In a building with condominium rights, it should also be evaluated whether the construction has been completed and how the occupancy process is progressing. In condominium ownership, however, the building has been completed in accordance with the relevant legislation and officially registered.
In a property with condominium rights, it is important for the project to be completed in accordance with the plan. Changes or deficiencies made during the construction process may affect the transition to condominium ownership in the future. Therefore, the project’s permit, architectural plans, and compliance with the current situation should be carefully examined.
In a property with condominium ownership, since the independent section is clearly defined, it represents a more distinct structure in terms of usage and ownership. This situation provides a more standardized progression, especially in terms of credit usage and the sales process.
When evaluated specifically in Bodrum, condominium rights are more commonly seen in newly started projects, while completed and ready-to-move-in buildings have condominium ownership. However, in some older buildings or in cases where the necessary processes have not been completed despite being finished, condominium rights may still continue.
Understanding the difference between condominium ownership and condominium rights correctly provides a clear idea about the current status of the property to be purchased. This distinction contains important information not only about the type of title but also about the completion process of the building and its legal status.
