What Is A Timeshare? What Is A Timeshare Right?

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The timeshare, which is mostly found on the cottage grounds, has not been purchased jointly in a multi-apartment building. You only have to use it in certain periods of the year you bought it. Like a normal real estate, you can not go indefinitely or when you want. Timeshare can only be used for a certain period and time.

what-is-timeshare

The condominium property is defined as a timeshare property:

A structure suitable for use as a residence or an independent zone may be established as an easement right in accordance with the joint property right, in favor of each of the common owners, at a certain period of the year from this structure or independent part. This right is called a period property right. "

The number and duration of the condominium are determined equally for all, unless otherwise agreed to by the official senate according to the Condominium Ownership Act.

The timeshare right can only be set up in residential property, converted to floor ownership or floor easement or in independent buildings.

The timeshare can be transferred or inherited as a normal residence. For example, let's say you bought a vacation rental from Armutlu. In the case of your death, you have the right to use it. So they inherit it. Or you can transfer your rights to another person at any time.

Minimum 15 Days

You can use the timeshare during certain periods of the year as mentioned above. But according to the Law on Condominiums, this period should not be less than 15 days.

Time shareholders are obliged to vacate and to dispose of the independent section or structure that they have benefited at the end of the period specified in the title deed registry according to the provisions of the contract and to the new owner.

If the worker is not released at the end, he will be promptly evicted by the command of the greatest superintendent of the place, without any further action or notification, in case of submitting the title deed or manager of the beneficiary with the title deed and the contract. The application to the administration or the judicial organs shall not stop this evacuation.

According to the 60th article of the Law on the Ownership of Houses;

"It is pointed out that the property rights of the main immovable property and the independent sections and the title deeds of the individual buildings are established on the territory of the declaration, the independent section or the structure and this issue shall be stated in the title deed to be arranged".

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