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

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 is registered by the land registry authorities

3. 3. Pledges & Mortgages
A. Pledges/mortgages are “real rights” which 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 in land register