USUFRUCT AGREEMENT

USUFRUCT AGREEMENT

Article 1: Parties
This Usufruct Agreement (“Agreement”) is concluded between the following parties:

• Owner (Right Holder):
  Name-Surname / Trade Name: …
  Address: …
  Telephone: …
  Turkish National Identity Number/Tax Number: …
• Beneficiary:
  Name/Trade Name: …
  Address: …
  Telephone: …
  Turkish National Identity Number/Tax Number: …

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Article 2: Subject of the Agreement
This Agreement regulates the transfer of the usufruct right over the immovable property owned by the Owner, the details of which are given below, to the Usufruct Holder and the terms of use:

• Property Address: …
• Property Registry Information: …
• Type: (Residential, commercial building, field, etc.)
• Duration of Usufruct Right: … years / indefinite.

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Article 3: Scope of Usufruct Rights
3.1. The usufructuary has the right to fully benefit from, generate income from, and use the immovable property.
3.2. The owner cannot make any claims for use or benefit from the immovable property during the usufruct period.
3.3. The usufructuary cannot use the immovable property for purposes other than its intended use and is obligated not to cause any damage.

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Article 4: Duration and Termination of Usufruct Right
4.1. The usufruct right shall be valid for the period determined by this agreement.
4.2. The usufruct right may terminate upon the expiration of the term, by written agreement of the parties, or for legal reasons.
4.3. In the event of termination of the usufruct right, the immovable property, together with all its income and consequences, shall be transferred to the Owner.

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Article 5: Rights and Obligations of the Parties

5.1. Owner's Rights and Obligations:

• The owner cannot take any action that would prevent the party acquiring the usufruct right from using the property.
• The owner bears the title deed expenses arising from the establishment of the usufruct right.

5.2. Rights and Obligations of the Usufructuary:

• The usufructuary is responsible for the maintenance and repair of the property.
• The property must be used in accordance with the terms of the contract.
• The contractor must obtain the owner's written consent before making any changes to the property.

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Article 6: Expenses and Taxes
6.1. Expenses arising during the use of the property, such as electricity, water, natural gas, and maintenance fees, shall be borne by the Usufructuary.
6.2. Financial obligations such as property tax and insurance premiums belong to the Owner; this may be changed by written agreement of the parties.

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Article 7: Prohibition of Transfer to Third Parties
The usufructuary may not transfer or lease this right to third parties. However, usage rights over the immovable property may be transferred with the written consent of the owner.

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Article 8: Legal Status and Registration
8.1. The usufruct right is registered in the land registry upon the joint application of the parties to the land registry office.
8.2. The costs arising from the procedures to be carried out in the land registry will be shared according to the agreement of the parties.

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Article 9: Confidentiality and Security
The parties undertake not to share the information contained in this agreement and details regarding the use of the property with third parties.

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Article 10: Resolution of Disputes
Any disputes arising between the parties from this agreement shall primarily be resolved through conciliation. If conciliation is not possible, the Courts and Enforcement Offices of … shall have jurisdiction.

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Article 11: Entry into Force and Signatures
This agreement has entered into force upon its signing by the parties on … date. The agreement has been drawn up in two copies, one copy given to the Owner and the other copy to the Usufructuary.

Owner (Right Holder):
Name-Surname: …
Date: …
Signature: …

Beneficiary:
Name-Surname: …
Date: …
Signature: …