ÖKBA, which stands for “Care Till Loss of life Contract”, covers the switch of the property of the proprietor of the immovable property to the relative, household or third get together one who cares for him.
On this course of, which is principally executed by older folks, an settlement is made between the individual in query and the caregiver.
WHAT IS ÖKBA?
In keeping with the settlement, the proprietor of the immovable property transfers his property to the upkeep debtor on the situation that he is taken care of till his dying.
SCOPE OF OBA
The designated care debtor could also be a member of the family, a relative or a 3rd get together.
The next sentences will be given as examples of ÖKBA.
“Veli Bey has transferred his private flat, which is situated in Istanbul’s Bakırköy district, on block 10, parcel number one (impartial part) to his daughter Ayşe on the situation of ÖKBA.”
ÖKBA CONDITION
ÖKBA has just one situation. It is to care for the one that needs 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’.
With a view to perform the ÖKBA course of, an official deed will be issued on the land registry workplace, or a transaction will 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 will 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 that cares 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
