You may have heard the word barter many times in the construction industry or many other areas when a housing loan will be taken. You may not know the exact meaning of the word barter, or you may have insufficient information. What is a tramp and how is it made? What are the barter contract features?
The word barter is one of the words that sounds foreign to the ear, but is also heard so often. Instead of the word barter, the Turkish equivalent of the word swap can be used. actually swap sözcüIt means to barter.
What is a Barter?
Barter or barter is a type of trade in which goods and services are exchanged for other goods and services without the use of any means of exchange.
As it can be seen in communities that have not yet established a monetary system, it continues to exist alongside the monetary system in modern economies. However, it is possible for barter to replace monetary trade during times of collapse of the monetary system (for example, a period of hyperinflation).
In the exchange of goods and services, it is the process of buying and selling the goods or services that people need or desire in exchange for the goods or services they have or can produce or provide, before money is used.
Although it is similar to a contract of sale, unlike it, it is the buyer's undertaking of the transfer of the ownership or right of another good instead of money in return for a good or right provided by the seller.
Barter contract is one of the types of contracts that imposes debts on both parties, since the parties mutually change their acts, and due to its similarity to the sales contract, it is regulated in the law of obligations that the provisions applied to the barter and the sales contract will be used.
How to Make a Tramper?
Barter is the process of replacing a commodity with another commodity belonging to a different person, and this process is called barter for short. The barter transaction made in the Land Registry Offices is called barter. Bartering does not require that the goods have the same value. Two goods that do not have the same value can be exchanged by agreement of the persons.
For this exchange to be made mutually, it is sufficient only to have an agreement between the seller and the buyer, without making evaluations and checks to see if the values of the goods are equal.
The barter transaction is made in accordance with the requirements of the Code of Obligations in the field of law. The price to be paid under the name of barter cost in the title deed is made by mutually paying the title deed fee. If necessary, these transactions can be made in writing by arranging a Barter Agreement between the seller and the buyer. Some documents are required for the barter transaction in the deed. With the completion of these documents and the approved exchange transaction after mutual agreement, all requirements are fulfilled.
Barter Contract Features
A barter contract is a contract in which both parties are mutually involved. With the barter contract, both parties are indebted. Both parties are subject to the primary performance obligation. For both parties, these debts are goods that are different from money. Both parties are both buyers and sellers.
It is also possible to make an agreement that one of the parties will pay the other money. The exchange of goods for a service or money for money is not a barter contract. It is different from a double sale contract in general. Double sales contracts have two different contracts and this contract is not mutual. This is because their continuity and existence are not interdependent. If one is invalid, the other will not be invalid. But in the barter contract, this is the opposite. There is only one legal action.
What are the Documents Required for Barter at the Land Registry?
The documents that the parties must submit in order to perform the barter transaction at the deed are as follows:
- Identity Cards of the real estate owner or representatives with TR ID number
- The title deed, if any, of the real estate to be exchanged, or the document stating the island parcel number, if not
- Power of attorney or authorization document if the transaction will be carried out through a representative
- 1 passport size 4×6 photograph of real persons
- Compulsory Earthquake Insurance (DASK) for the exchange of building properties
- The document showing the real estate value, that is, the current value, obtained from the municipalities where the real estates are located.
In order to carry out the transaction, the title deed fee and the revolving fund fee must be paid. Based on the real estate with a high current market value, the payment is made at the rate of the title deed fee determined every year. Even if the parties specify a real estate value higher than the current value, the title deed fee is calculated over this price. The revolving fund fee is paid every year according to the tariff determined by the revolving fund enterprise.
Be the first to comment