Apartment Sales Contract Template for United Arab Emirates

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Key Requirements PROMPT example:

Apartment Sales Contract

"I need an Apartment Sales Contract for a completed 2-bedroom apartment in Dubai Marina, with completion scheduled for March 2025, including provisions for mortgage financing and foreign buyer requirements."

Document background
The Apartment Sales Contract serves as the primary legal instrument for transferring apartment ownership in the United Arab Emirates. This document is essential for both off-plan and completed property transactions, incorporating requirements from UAE Federal Laws and specific emirate regulations. The contract is designed to protect both buyers' and sellers' interests while ensuring compliance with local property registration requirements, RERA guidelines (in Dubai), and other relevant authorities. It includes detailed provisions for property description, payment terms, completion procedures, and handover requirements, while accommodating various scenarios such as mortgage financing and foreign ownership considerations. The document is particularly crucial in the UAE's dynamic real estate market, where clear documentation and regulatory compliance are paramount for successful property transactions.
Suggested Sections

1. Parties: Identification of the Seller and Buyer with full legal names, Emirates ID numbers, and contact details as required by UAE law

2. Background: Context of the sale, including brief property description and seller's ownership status

3. Definitions: Key terms used throughout the agreement, including Property, Completion Date, Purchase Price, and other relevant definitions

4. Sale and Purchase: Core agreement to sell and purchase the property, including the exact price and basic terms

5. Property Details: Comprehensive description of the apartment including unit number, floor, building name, plot details, and registered area in square feet/meters

6. Purchase Price and Payment Terms: Detailed breakdown of the purchase price and payment schedule, including deposit and installment details

7. Completion and Registration: Process and requirements for completion of the sale and property registration with the relevant land department

8. Seller's Obligations: Seller's commitments including providing clear title, necessary documentation, and handling any existing mortgages

9. Buyer's Obligations: Buyer's commitments including payment obligations, registration requirements, and compliance with building rules

10. Warranties and Representations: Standard warranties from both parties regarding their capacity to enter into the agreement and property condition

11. Handover: Terms and process for physical handover of the property, including inspection and snagging procedures

12. Termination: Circumstances under which the agreement can be terminated and consequences of termination

13. Governing Law and Jurisdiction: Confirmation of UAE law application and relevant emirate's courts' jurisdiction

14. Notices: Process for formal communications between parties

15. Execution: Signature blocks and execution requirements

Optional Sections

1. Mortgage Arrangements: Include when buyer is obtaining mortgage financing, detailing coordination with the bank and mortgage requirements

2. Condition of Property: Include for existing (not off-plan) properties, detailing the current state and any agreed repairs

3. Service Charges: Include for properties in managed communities, detailing service charge obligations and transfers

4. Parking Allocation: Include when parking spaces are included in the sale, specifying details and rights

5. Furniture and Fixtures: Include when sale includes furniture or specific fixtures, with detailed inventory

6. Development Rules: Include for properties within managed developments, incorporating community rules and regulations

7. Power of Attorney: Include when any party is acting through a power of attorney, including verification requirements

8. Escrow Arrangements: Include for off-plan properties or when using escrow services for the transaction

9. Foreign Ownership: Include when buyer is a foreign national, addressing specific requirements and restrictions

Suggested Schedules

1. Schedule 1 - Property Details: Detailed technical description of property including floor plans and area certificate

2. Schedule 2 - Payment Schedule: Detailed breakdown of all payments including due dates and payment methods

3. Schedule 3 - Property Title Documents: Copies of title deed and other ownership documents

4. Schedule 4 - Handover Protocol: Detailed procedure for property inspection and handover process

5. Schedule 5 - Inventory List: List of included fixtures, fittings, and furniture (if applicable)

6. Appendix A - Property Photos: Current photographs of the property and any notable features

7. Appendix B - Building Rules: Copy of building or community rules and regulations

8. Appendix C - Required Documents: List of documents required from each party for completion

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions
Clauses
Relevant Industries

Real Estate

Property Development

Legal Services

Banking and Finance

Construction

Property Management

Professional Services

Urban Development

Residential Property

Relevant Teams

Legal

Real Estate

Sales

Compliance

Property Management

Business Development

Contract Administration

Risk Management

Operations

Customer Relations

Relevant Roles

Real Estate Agent

Property Lawyer

Legal Counsel

Property Manager

Sales Director

Contract Manager

Real Estate Developer

Compliance Officer

Property Consultant

Transaction Manager

Real Estate Investment Manager

Property Registration Officer

Sales Manager

Legal Director

Business Development Manager

Industries
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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