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Home Purchase Contract For Sale By Owner

Home Purchase Contract For Sale By Owner Template for United Arab Emirates

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Key Requirements PROMPT example:

Home Purchase Contract For Sale By Owner

"I need a Home Purchase Contract For Sale By Owner for a 3-bedroom villa in Dubai Marina, with a requirement for staged payments over 6 months and specific conditions for existing tenant rights until March 2025."

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Document background
The Home Purchase Contract For Sale By Owner is essential for private property transactions in the United Arab Emirates where owners wish to sell their property directly to buyers without real estate agency involvement. This document type is specifically designed to comply with UAE federal real estate laws and emirate-specific regulations, including requirements from local Land Departments. It is used when property owners want to maintain direct control over the sale process while ensuring legal compliance and protection for all parties. The contract includes crucial elements such as property details, payment terms, warranties, and transfer procedures, adapted to meet UAE legal requirements and local market practices. It's particularly important in emirates like Dubai and Abu Dhabi, where real estate transactions are strictly regulated and require specific documentation for property registration and ownership transfer.
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: Brief context of the transaction and confirmation of the seller's legal ownership and right to sell

3. Definitions: Key terms used throughout the agreement, including property-specific terminology and UAE real estate terms

4. Property Details: Comprehensive description of the property including location, size, type, and registration details as per UAE Land Department requirements

5. Purchase Price: Total purchase price, payment schedule, and method of payment in compliance with UAE regulations

6. Payment Terms: Detailed breakdown of payment installments, deposit requirements, and final payment arrangements

7. Transfer of Ownership: Process and requirements for transferring property ownership through the relevant Land Department

8. Seller's Warranties: Seller's representations regarding property ownership, absence of disputes, and compliance with local laws

9. Buyer's Obligations: Buyer's commitments including payment, registration requirements, and compliance with local regulations

10. Completion Requirements: Steps required to complete the transaction including documentation and Land Department procedures

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

Optional Sections

1. Mortgage Provisions: Required if the property is being purchased with mortgage financing, detailing lender requirements and conditions

2. Property Condition: Detailed when specific property condition issues need to be addressed or when significant repairs are required

3. Tenant Rights: Necessary if the property is currently tenanted, addressing existing lease agreements and tenant rights

4. Foreign Ownership: Required for non-UAE national buyers, including specific requirements and restrictions

5. Service Charge Provisions: For properties in managed communities, detailing service charge obligations and payments

6. Furniture and Fixtures: When the sale includes specific furniture or fixtures, listing all items included

7. Developer Requirements: For off-plan properties or those with specific developer conditions

8. Escrow Arrangements: When using an escrow account for the transaction, detailing the terms and conditions

Suggested Schedules

1. Property Title Deed: Copy of the original title deed and translation if required

2. Property Floor Plan: Detailed floor plan and area calculation approved by relevant authorities

3. Property Photographs: Recent photographs documenting the current condition of the property

4. Payment Schedule: Detailed breakdown of all payments and due dates

5. Property Inspection Report: If conducted, detailed report on property condition and any identified issues

6. Service Charge Statement: Current status of service charges and payment history if applicable

7. NOC Documentation: Any required No Objection Certificates from developers or authorities

8. Inventory List: If furniture/fixtures included, detailed inventory with photographs

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
Deposit
Title Deed
Land Department
RERA
Completion Certificate
Transfer Date
Possession Date
Due Diligence Period
Defects
Encumbrances
Force Majeure
Service Charges
NOC
Registration Trustee
Business Day
Completion Documents
Seller's Warranties
Transfer Fee
Registration Fee
Maintenance Charges
Common Areas
Master Developer
Property Manager
Affection Plan
Escrow Account
Handover Protocol
Material Adverse Change
Municipality
Payment Schedule
Relevant Authority
Utilities
Clauses
Property Description
Purchase Price
Payment Terms
Title and Ownership
Seller Warranties
Buyer Warranties
Property Inspection
Due Diligence
Deposit
Completion
Transfer of Ownership
Registration Requirements
Property Condition
Representations and Warranties
Default and Remedies
Risk and Insurance
Utilities and Services
Service Charges
Force Majeure
Notices
Assignment
Entire Agreement
Severability
Amendments
Dispute Resolution
Governing Law
Property Handover
Defects Liability
Termination
Costs and Expenses
Compliance with Laws
Third Party Rights
Further Assurance
Indemnification
Time of Essence
Relevant Industries

Real Estate

Banking & Finance

Legal Services

Property Development

Property Management

Construction

Insurance

Property Investment

Residential Property

Relevant Teams

Legal

Real Estate

Compliance

Property Management

Document Processing

Registration

Property Services

Investment Advisory

Transaction Processing

Risk Management

Relevant Roles

Property Owner

Real Estate Lawyer

Legal Counsel

Property Manager

Real Estate Investment Manager

Compliance Officer

Legal Document Specialist

Property Registration Officer

Real Estate Transaction Coordinator

Mortgage Advisor

Property Valuation Specialist

Real Estate Consultant

Private Wealth Manager

Legal Document Reviewer

Industries
UAE Civil Code (Federal Law No. 5 of 1985): The fundamental law governing all civil transactions, including contracts and property ownership rules in the UAE
UAE Federal Decree-Law No. 33 of 2021 (New Law of Commercial Companies): Relevant for property transactions involving commercial entities or corporate ownership structures
Law No. 13 of 2008 (Dubai): Regulates the interim real estate register in Dubai, crucial for property sale and purchase transactions
Law No. 3 of 2015: Dubai's property law regulating real estate regulatory affairs and the responsibilities of RERA (Real Estate Regulatory Agency)
Law No. 19 of 2017: Establishes and regulates the operation of the Dubai Land Department's rental disputes center
Federal Decree-Law No. 40 of 2014: Regarding mortgage of movable property as security for debt, relevant for mortgaged properties
Law No. 7 of 2006: Dubai's property registration law governing the recording of real estate rights
UAE Anti-Money Laundering Law (Federal Decree-Law No. 20 of 2018): Relevant for compliance in real estate transactions and verification of funds sources
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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