The phrase ÖKBA, which we could also be acquainted with listening to in day by day life, is a course of that stands for Do not Look Till You Die.
On this course of, which is largely performed by older folks, an settlement is made between the individual in query and the caregiver.
WHAT IS ÖKBA?
In step with the settlement, the proprietor of the immovable property transfers his property to the upkeep debtor, supplied that he is taken care of till his demise.
SCOPE OF OBA
The designated care debtor could also be a member of the family, a relative or a 3rd celebration.
The next sentences might be given as examples of ÖKBA.
“Veli Bey has transferred his private flat, which is positioned in Istanbul’s Bakırköy district, on block 10, parcel no 1 (unbiased part) to his daughter Ayşe on the situation of ÖKBA.”
ÖKBA CONDITION
ÖKBA has just one situation. It is to handle the one who desires his care till he dies. In case the upkeep debtor accepts the settlement and takes over the immovable property, he/she is deemed to have accepted the ‘care situation’.
So as to perform the ÖKBA course of, an official deed might be issued on the land registry workplace, or a transaction might be carried out within the presence of a notary public or Justice of the Peace.
Along with the registration request doc issued on the Land Registry Directorate, authorized entities might be upkeep debtors, however they aren’t upkeep collectors.
SALES OF GOODS PURCHASED WITH ÖKBA
The upkeep debtor is not obliged to maintain the immovable property on himself. In different phrases, the one who maintains with ÖKBA can promote the immovable property after taking on. The dwelling of the individual being cared for is not an impediment to the sale of the immovable property.
#OBA
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