The laws and regulations related to the ownership and transfer of property are complex and there are a lot of legal procedures that have to be followed for the proper transfer of property. Therefore, to ensure that the process of transfer takes place smoothly and efficiently, it is advisable to hire good Dubai Lawyers. Lawyers are well aware of all the legalities surrounding the transfer of properties and can not only guide the procedure but can also make sure that the process is completed properly. The UAE Law deals with the registration of all types of properties in Dubai. However, a property cannot be transferred from one individual to another if it is not properly registered in the property register under Dubai real estate law. Some major steps in the process of transfer of property in Dubai are as follows:
Due Diligence:
Due diligence of the property is conducted which includes checking the necessary documents, visiting the property, and checking the property register. This is done to confirm that the property is properly registered in the property register and the seller has the right to sell the property.
Memorandum of Understanding:
The buyer and the seller sign a memorandum of understanding which highlights the terms and conditions of the sale. The memorandum of understanding is valid for the time before the sale contract is signed.
Sale Contract:
The sale contract is signed between the buyer and the seller and has the details of the property, the buyer and the seller, purchase price, terms of payment, governing law, dispute resolution, and a termination clause. It also includes the general provisions that are required to be included in a sale contract according to law. The transfer of property is a legal process and has multiple steps that require the need for a lawyer. To ensure that neither the buyer nor the seller faces any difficulties in the future, both parties should consult good lawyers in Dubai and get the contracts vetted before signing.
Property Lawyers for Off-Plan:
Contract is signed between two parties. The developer, and the buyer. Off-Plan is sold on Installment packages and, the installments have to be paid by the buyer as per the terms agreed and mentioned in Sales Purchase Agreement. If the property is not completed or handed over as per the Contract then buyer has right to take legal action and if the buyer does not pay the installments or EMIs on the mentioned time then seller or developer can also take the legal action.
Buyers need to check with the advocates by good Law Firm first, so there could be no trapped in the deal. SPA or any other contract should be drafted by the experts of Law, should be checked by the experts of the Law and should be monitored by the experts of the Law. Lawyers also provide the witness service where any kind of document is signed in front of Lawyer or the Lawyers. This is how the lawyers can easily manage the buying process. The buying process of property, will not be easier if it is not to be managed by, lawyers. Obviously the buying process is performed between buyer and the seller but lawyers can verify the documents and other necessary requirements.
There are a number of Law Firms, in Dubai, where good property lawyers can be found. These property lawyers are mostly the Emiratis. They are having very quality exposure because they are mostly also in to Real Estate Business. For example Ask The Law Al Shaiba Advocates’ owner Advocate Mr Mohamamd Ebrahim Hassan Al Shaiba, himself having extensive knowledge in Real Estate and Property Law United Arab Emirates
