Flat Buying Agreement Template for United Arab Emirates

The Flat Buying Agreement is a crucial legal document used in the United Arab Emirates for the purchase and sale of residential apartment units. This agreement is essential for both off-plan and ready property transactions, ensuring compliance with UAE federal laws and specific emirate-level regulations, particularly in Dubai and Abu Dhabi. The document is designed to protect both buyers' and sellers' interests by clearly defining the terms of sale, payment obligations, completion requirements, and property specifications. It includes mandatory provisions required by the UAE Real Estate Regulatory Agency (RERA) and relevant land departments, covering aspects such as property registration, escrow arrangements, and ownership transfer procedures. The agreement is particularly important given the UAE's unique property ownership laws and regulations for both UAE nationals and foreign investors.

1. Parties: Identification of the Seller and Buyer with complete details including Emirates ID/passport numbers and contact information

2. Background: Context of the transaction, including brief property description and parties' intentions

3. Definitions: Definitions of key terms used throughout the agreement

4. Property Details: Comprehensive description of the property including unit number, building name, location, size, and registration details

5. Purchase Price: Total purchase price, payment schedule, and method of payment including escrow arrangements

6. Payment Terms: Detailed breakdown of payment installments, due dates, and consequences of default

7. Completion and Handover: Conditions for completion, timing of handover, and transfer of ownership procedures

8. Seller's Obligations: Responsibilities of the seller including providing clear title, necessary documentation, and maintenance until handover

9. Buyer's Obligations: Responsibilities of the buyer including timely payments, registration requirements, and compliance with regulations

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

11. Default and Remedies: Consequences of breach by either party and available remedies

12. Registration and Transfer: Procedures for property registration and transfer of ownership at the relevant land department

13. Notices: Method and addresses for formal communications between parties

14. Governing Law and Jurisdiction: Specification of UAE law as governing law and relevant emirate's courts' jurisdiction