LEGAL OWNERSHIP OF THE HOUSES IN BERGGRUEN GÜMÜŞLÜK

Ownership of the houses in Berggruen Gümüşlük will be governed by the Turkish Condominium Law No : 634, which is the most common form of legal ownership used in Turkey.

Under the Condominium Law, all owners will receive a seperate title deed for the house they own. The title deed will provide the exact location and the closed area of the house, and will be provided by the Deed Registry of Bodrum.

All owners, Turkish or foreign, an individual or a company, will own the houses as governed by the same Condominium Law. Owners of the buyers for the 1st Phase of the Gümüşlük Project also have the same form of ownership.

A title deed received through this method will ensure that:

• a. such property has been constructed in accordance with the applicable zoning and construction regulations;
• b. the Building Utilization License has been granted to each independent unit (“house” in the case of Berggruen Gümüşlük).

According to Article 15 of The Condominium Law, each owner may independently transfer their ownership, or create liens (such as mortgages) on their houses.

If you have further questions regarding ownership issues please contact Berggruen A.Ş. for further clarification.