1. LAW OF PROPERTY 1. Two Basic Categories (IP excepted)
A. Immovables – property that is fixed in place
U.S. = “Real” (land, and everything attached to it)
B. Movables – property that can be moved from place to place
U.S. = “Personal” (tangible property that’s not real)

2. 2. Transfer of Ownership
A. Property ownership is a “real right” that is regulated by Turkey’s Civil Code
B. Transfer may occur by Sale, Gift, or K
C. Movables
1. Most are transferred by SIMPLE agreement + DELIVERY of item (some require formalities)
D. Immovables
1. Transfer requires formal WRITTEN agreement that’s REGISTERED with land registry authorities

3. 3. Pledges & Mortgages
A. Pledges/mortgages are real rights that are regulated by the Civil Code
B. Function is to provide security for debt
C. “Pledge”(rehin)
1. MOVABLE property is used as security for debt
2. Requires agreement + delivery of movable
D. “Mortgage” (ipotek)
1. IMMOVABLE property is used as security for debt
2. Requires agreement + registration with gov’t