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Contract For Selling A House

Contract For Selling A House Template for United Arab Emirates

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Contract For Selling A House

I need a Contract For Selling A House for a 3-bedroom villa in Dubai Marina, UAE, with completion scheduled for March 2025; the property is currently tenanted so we need to include provisions for the existing lease agreement.

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Document background
The Contract For Selling A House is a crucial legal document used in the United Arab Emirates for residential property transactions. It serves as the primary agreement between a property seller and buyer, incorporating all requirements under UAE federal laws and local emirate regulations. This document is essential when transferring ownership of residential property in the UAE, whether it's a villa, townhouse, or apartment. The contract must comply with requirements set by the Real Estate Regulatory Agency (RERA) and local land departments, including specific provisions for property registration, escrow arrangements, and payment procedures. It's particularly important as the UAE real estate market has unique requirements for property ownership, transfer procedures, and foreign ownership restrictions in designated areas.
Suggested Sections

1. Parties: Identification of the seller and buyer with full legal names, Emirates ID numbers, and contact details

2. Background: Brief context of the sale, including property ownership history and intention to sell

3. Definitions: Key terms used throughout the agreement defined for clarity

4. Property Details: Comprehensive description of the property including address, plot number, registration details, and size

5. Purchase Price: Agreed purchase price and payment structure, including deposit and completion payment details

6. Payment Terms: Timeline and method of payments, including escrow arrangements as per UAE law

7. Completion: Process and requirements for completing the sale, including registration and transfer procedures

8. Seller's Warranties: Seller's representations regarding property ownership, condition, and absence of disputes

9. Property Condition: Current state of the property and any agreed repairs or modifications before completion

10. Transfer of Ownership: Process and requirements for legal transfer of title

11. Costs and Taxes: Allocation of transaction costs, registration fees, and applicable taxes

12. Default and Termination: Consequences of breach and conditions for contract termination

13. Governing Law and Jurisdiction: Confirmation of UAE law application and jurisdiction for disputes

Optional Sections

1. Mortgage Arrangements: Details of existing mortgage clearance or new mortgage arrangements, used when property has existing mortgage or buyer requires financing

2. Tenant Provisions: Terms regarding existing tenants and lease agreements, included when property is currently tenanted

3. Furniture and Fixtures: List of included/excluded items, used when sale includes furniture or specific fixtures

4. Power of Attorney: Authorization details if either party is acting through a representative

5. Property Management Handover: Terms for transferring property management responsibilities, relevant for properties in managed communities

6. Defect Liability Period: Terms for addressing property defects post-completion, often used for newer properties

7. Service Charge Arrangements: Allocation of service charges and maintenance fees, relevant for properties in managed communities

Suggested Schedules

1. Property Title Deed: Copy of current title deed and property ownership documentation

2. Property Plans: Floor plans, plot plans, and any relevant architectural drawings

3. Inventory List: Detailed list of included furniture, fixtures, and fittings if applicable

4. Condition Report: Detailed report on property condition with photographs

5. Payment Schedule: Detailed breakdown of payment installments and timing

6. Service Charges Statement: Current status of service charges and maintenance fees

7. NOC Documents: Required No Objection Certificates from relevant authorities

8. Property Photographs: Recent photographs of the property's interior and exterior

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

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Agreement
Property
Purchase Price
Completion Date
Completion
Deposit
Title Deed
RERA
Land Department
Seller
Buyer
Business Day
Defects
Encumbrances
Escrow Account
Escrow Agent
Fixtures and Fittings
Maintenance Charges
NOC
Payment Schedule
Property Registration Fee
Service Charges
Transfer Date
Transfer of Ownership
Warranties
Building
Common Areas
Completion Notice
Due Diligence
Emirates ID
Force Majeure
Handover
Inspection Report
Material Adverse Change
Mortgage
Party/Parties
Plot
Property Manager
Purchase Application
Registration Trustee
Regulatory Authority
Sale and Purchase Agreement
Selling Price
Unit
Clauses
Interpretation
Sale and Purchase
Property Description
Purchase Price
Payment Terms
Deposit
Completion Requirements
Property Transfer
Title and Ownership
Seller's Warranties
Buyer's Warranties
Property Condition
Inspection Rights
Registration Requirements
Escrow Arrangements
Due Diligence
Handover
Service Charges
Insurance
Default
Termination
Force Majeure
Assignment
Notices
Costs and Taxes
Entire Agreement
Amendments
Severability
Waiver
Third Party Rights
Confidentiality
Anti-Money Laundering
Dispute Resolution
Governing Law
Jurisdiction
Relevant Industries

Real Estate

Property Development

Legal Services

Banking and Finance

Construction

Property Management

Insurance

Facilities Management

Property Investment

Real Estate Technology

Relevant Teams

Legal

Real Estate Operations

Property Sales

Compliance

Documentation

Property Management

Contract Administration

Transaction Processing

Finance

Customer Relations

Risk Management

Relevant Roles

Real Estate Agent

Property Lawyer

Legal Counsel

Property Developer

Real Estate Manager

Compliance Officer

Contract Manager

Property Consultant

Real Estate Investment Manager

Real Estate Transaction Coordinator

Property Registration Officer

Escrow Manager

Real Estate Operations Manager

Property Sales Director

Legal Documentation Specialist

Real Estate Finance Manager

Industries
UAE Civil Code (Federal Law No. 5 of 1985): Establishes the fundamental principles of contract law and property rights, including requirements for valid contracts and property ownership transfer
UAE Property Law (Law No. 27 of 2007): Regulates real estate ownership and registration in the UAE, including rules for property transfers and ownership rights
Real Estate Regulatory Agency (RERA) Regulations: Governs real estate transactions, particularly in Dubai, including requirements for property transfers and documentation
Foreign Ownership Decree (Law No. 7 of 2006): Regulates foreign ownership of real estate in the UAE, including designated areas where foreigners can own property
Real Estate Registration Law (Law No. 13 of 2008): Establishes requirements for registering property transactions and maintaining property records
Escrow Law (Law No. 8 of 2007): Regulates escrow accounts and payment procedures in real estate transactions
Real Estate Broker Regulations: Governs the role and responsibilities of real estate brokers in property transactions, if a broker is involved
Anti-Money Laundering Laws: Requirements for due diligence and verification in high-value property transactions to prevent money laundering
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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