Principles and applications regarding the valuation of limited real rights

The Turkish Legal System classifies the subject of real estate ownership as "land, independent and permanent rights registered on a separate page in the land registry and independent sections registered in the property ownership register". The subject of real estate valuation, on the other hand, consists of those that fall under the subject of real estate ownership in the Turkish Legal System and the rights and benefits related to real estate. There are also limited real rights within the rights and benefits associated with real estate. Limited real rights provide limited real rights as the name implies and limit some of the powers over the property. They may have one or at most two of the rights to use, exploit and dispose of property. Limited real rights are divided into three as easement rights, rights of mortgage and right of incumbrance. Easement rights are divided into five as right of construction, right of residence, right of source, usufruct right and other easements. . Rights of mortgage (chattel mortgage) are divided into three as mortgage, mortgaged debt bond and annuity bond. In practice, it is observed that easement rights are frequently used in valuations for expropriation purposes, valuations with the purpose of mortgage are mostly requested by banks, and mortgaged debt bonds, annuity bonds and right of incumbrance hardly find a place in practice. In the thesis study, the limited real rights within the Turkish Legal System were taken into consideration, and what these rights are, their place in our legal system, explanations about real estate valuation, explanations about the valuation of limited real rights and sample applications are included. While the valuation of limited real rights was examined, comparisons were made within the scope of implementation and legislation provisions, and suggestions were made for method selection. The purpose of this study is to try to explain the valuation of limited real rights in practice and legislation with sample applications.