How to Sell a Share Farm?

The situation where there is more than one shareholder on a plot or field is called a shared plot. So, how is a shared plot purchased?, How is a shared plot title deed divided?, What are the documents required for the sale of a shared plot?, Is it possible to sell a shared agricultural land to 3rd parties? As Anadolu Properties, we have decided to detail the answers to all these questions you are curious about on this subject here for you.

The transfer of shares on a field owned by more than one person can be expressed as shared sale. This process includes legal and technical details that buyers and shareholders must pay attention to. In the sale of a shared field, it is important that all shareholders approve the sale or that the shareholders transfer their own shares. Otherwise, the title deed transfer cannot be made and the sale transaction is considered invalid.

The shareholders must reach an agreement among themselves and determine their shares before the sale. The sale transaction is carried out in the land registry officeunits and it is mandatory for all shareholders or their representatives to be present at the land registry office during the transfer.

The sale price is divided according to the share ratios and each shareholder receives their own share.During the sale of a shared land, it should be checked whether there is any mortgage, lien or annotation on the land.

Legal Processes and Requirements in the Sale of Shareholding Land

The legal processes that need to be considered when selling a shareholding land can be a bit complicated. However, knowing the basic steps actually makes things much easier. The basic steps can be listed as follows:

• The consent of all shareholders is required. If everyone approves the sale, you can start the sale process by applying to the land registry office.
• If one of the shareholders opposes the sale, he can only sell his own share. It is important to know that this is a situation that the buyer should be careful about. Because it may be difficult to obtain full ownership of the land.
• The sale transaction is carried out at the land registry office and all shareholders or their representatives must be present during this process.
• It is important to check if there is a mortgage, lien or other legal obstacle on the land before the sale. In such a case, the sale transaction may not be possible.

It is recommended to get support from a lawyer for all these processes. Requesting support makes things safer for the seller and the buyer. In this way, both legal processes will proceed smoothly and everyone’s rights will be protected.

What to Consider to Achieve an Agreement Between Shareholders?

According to the new law, the sale of a shared land can be made easier if the shareholders fully agree. However, reaching an agreement between shareholders can sometimes be challenging; however, you can make this process easier with a few simple steps. So, How to sell a shared land? What should be considered for an agreement? Let’s examine:

• It is important for everyone to clearly understand their shares and rights. It prevents misunderstandings and ensures that everyone is on the same page.
• Open communication plays a big role; Creating an environment where everyone can express their views freely helps resolve disagreements.
• Determining a common goal, such as making a plan for how the proceeds from the sale of the field will be used, makes it easier for the parties to reach an agreement.
• It is important to respect the suggestions and concerns of each shareholder. A respectful approach increases mutual trust throughout the process.
• If disagreements arise, it may also be a good idea to seek support from a mediator or legal counsel.
• Documenting all decisions in writing prevents potential problems from arising in the future. In this way, an agreement that everyone will be happy with can be reached.

A careful approach to all these items can greatly facilitate the agreement process.

How are Deed Transactions Performed in Shared Land Sale?

Shared land sale deed transactions are actually not as complicated as you think. You just need to pay attention to a few steps. Let’s evaluate step by step:

• All shareholders must approve the sale. If everyone agrees on this, then most of the work is done.
• When you go to the land registry office, all shareholders or their representatives must be present.
• The land registry officer checks details such as the current status of the field, share ratios and sales price. At this stage, the shares to be sold are registered with the land registry and transferred.
• If there is no problem with the land registry, the transactions are completed quickly. However, if there is a mortgage or lien on the field, this situation must be resolved in advance.
• Expenses such as sales price, title deed fee and taxes should not be forgotten.
• After the transactions are completed, the new title deed is issued in the name of the buyer and everyone receives their share.

After the steps, your title deed transactions are completed and the shared land notary saleprocess is completed.

Expert Report and Valuation Process for the Value Determination of Shared Land

Obtaining an expert report for the value determination of shared landis valuable to secure the seller and buyer. The expert report is a document prepared by experts to determine the market value of the land. During this process, the expert company examines the location, size, agricultural productivity, and whether there is any structure or planting on the land in detail.

The comparable values ​​in the region where the land is located are also taken into consideration. The valuation process takes a few days and the report objectively reflects the fair market value of the land. The prepared report helps determine a fair price among the shareholders and between the buyer and seller.

In order to reach an agreement that everyone will be happy with in the sale of a shared land, such a valuation report plays an important role in preventing possible disputes. Ultimately, a shared land sharing carried out with a correct valuation ensures that everyone wins.

Methods for Finding Buyers for Shared Land Sales

Finding a buyer for a shared land sale can sometimes be a difficult process. However, you can make this process easier with the right methods. Different methods you can prefer:

• Before putting the land up for sale, it is important to determine its value. You can get help from a real estate expert or check the prices of similar fields in the area.
• After determining the value, you need to announce your field to as wide an audience as possible.
• You can inform your acquaintances and neighbors that you are putting your field up for sale. Sometimes the best buyer can be someone you never expected. Social media also provides a great advantage in this regard. You can reach potential buyers by sharing your field on platforms such as Facebook, Instagram or Twitter. Facebook groups or local real estate pages for real estate sales are also quite effective.
• You can also consider working with a real estate agent. Professional real estate agents are experienced in finding potential buyers for your field and can speed up the sales process. Since real estate agents have a wide customer network, it may be easier for you to find the right buyer.
• Listing your field on online real estate sites is also a very effective method. Platforms like Anadolu Properties provide wide access for buyers to see your field. You can attract buyers’ attention by sharing detailed descriptions and quality photos.

Legal Details to Know When Preparing a Sales Contract

One ​​of the points of great importance for the seller and buyer is the sales contract preparation process. At this stage, it is necessary to evaluate the legal details especially carefully. Let’s elaborate:

• The identity information of the parties to the contract prepared for the division of a shared farm should be clearly and accurately stated. Incorrect or incomplete information may lead to legal problems in the future.
• The exact nature of the goods or services sold, their features and condition should be defined in detail in the contract. This is especially important in second-hand products or property sales. Because it prevents disputes between the parties.
• Price and payment terms are also a critical part of the contract. The payment method, installment status and due dates should be clarified and this information should be written in a way that is understandable to the parties. Especially in forward sales, it is important to clearly state how interest will be calculated and the sanctions to be applied in case of possible delays.
• Delivery terms and timing should also be included in the contract. When and how the product or service will be delivered clarifies the parties’ expectations.
• The parties’ rights and penalties to be applied in case of breach of the contract should also be stated.

Such clauses protect the parties’ rights in possible disputes and make the process smoother. It is necessary to receive legal advice when preparing the contract. It is an important step to prevent problems that may arise in the future.

Tax Liabilities and Charges in Shared Land Sales

Tax liabilities and charges are an important issue for sharedland sales. Taxes and charges in land sales can create significant costs for sellers and buyers. Income tax, which is an important point for sellers, varies according to the holding period of the real estate. If the land has remained in the seller’s possession for more than five years; the profit from this sale is exempt from tax. However, income tax must be paid in land sales that change hands in less than five years. It is important to pay attention to the title deed value and sales profit when calculating this tax.

Another liability is title deed fee. Both the buyer and the seller must pay a stamp duty during the title deed transfer process! The stamp duty is determined as a certain percentage of the sales price and this rate is shared equally between the seller and the buyer. In other words, both parties are obliged to pay the determined percentage of the sales price equally. In addition, a revolving fund fee may be requested during the title deed process. In addition to these costs, it should be kept in mind that real estate taxes may also arise depending on the region where the real estate is located.