Warning: A Kochan which is not!!

elko2



Joined: 24/07/2007
Posts: 4400

Message Posted:
16/04/2009 13:09

I have just stopped a deal going through in the nick of time!!!



Some property or land can be leased from the government for a long period. The one in question was leased for 40 years. The yearly rent would be xxx amount for the first ten years and then the new rent would be determined by the government. The tenants can transfer the rights provided the government agrees to make a new rental agreement with the new tenant. So far so good. Such a long term rental agreement is registered with the District Land Office and for all intents and purposes they look exactly like a normal Kochan except that somewhere it says that it is a rental agreement.



I know of at least one bank who has given credit and registered a "mortgage" on such a "kochan" which is totally worthless. I have just stopped a deal whereby the "false" vendor was selling the land to an expat for good money. So be warned, not every "kochan" looking piece of paper is a kochan!!!

ismet

TimothyCadman


Joined: 13/12/2007
Posts: 1040

Message Posted:
16/04/2009 13:24

Thanks for informing us Elko. Maybe more people will seek further clarification on their "Kochan" before proceeding with buying a property.

Woodspeckie


Joined: 25/01/2009
Posts: 2263

Message Posted:
16/04/2009 14:58

We were in Girne in December a chap staying in the same Hotel bought a piece of land in Bogaz it was staked off along with five other plots and all he did was meet someone in a Cafe signed a paper and was going to send £28.000 when he got home, he was telling eveyone in the Hotel about his bargain and they were advising him to get a solicitor but he wouldn't hear of it.

fire starter


Joined: 19/06/2008
Posts: 3401

Message Posted:
16/04/2009 15:03

what is actually written on it in turkish showing this is only a lease?

then people could be aware.

elko2



Joined: 24/07/2007
Posts: 4400

Message Posted:
16/04/2009 20:05

Here is a copy of ther said document with detailes blocked by me

http://www.postimage.org/image.php?v=gx1dlhe9



Right at the top it says "Hazine Malı Kira Belgesi" which means "Treasury Property Rental Document" and yet it was not clear enough to warn the banker or theTapu clerk who accepted a mortgage with a similar document!!!

ismet

fire starter


Joined: 19/06/2008
Posts: 3401

Message Posted:
17/04/2009 10:12

thanks ,

now everyone will be clear!

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
17/04/2009 10:24

Thanks for bringing that to everyones attention Ismet.



Hopefully others will read this and pass the message on.

Lilli



Joined: 21/07/2008
Posts: 13081

Message Posted:
17/04/2009 11:00

Thank God for you Ismet. You live and learn here xxxxx

Littlenige



Joined: 24/12/2006
Posts: 3594

Message Posted:
17/04/2009 11:09

and will charges for fraud be brought ?

elko2



Joined: 24/07/2007
Posts: 4400

Message Posted:
17/04/2009 12:30

Nigel,

No fraud in the strict sense. He readily showed his papers and absolutely no tampering with the documents. Shall we say the "vendor" misread the document. Maybe he thought that it was his for 40 years. It was up to the "buyer" and his "solicitor" to examine the documents properly. The agreed price was over 100 grand gbp!!!

ismet