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Property Purchase Form

Property Purchase Form Template for United Arab Emirates

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Key Requirements PROMPT example:

Property Purchase Form

"I need a Property Purchase Form for a foreign buyer purchasing a residential apartment in Dubai Marina, with completion scheduled for March 2025 and including provisions for mortgage financing from an international bank."

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Document background
The Property Purchase Form is a fundamental legal document used in the United Arab Emirates for real estate transactions. It serves as the primary agreement template for property purchases, whether residential, commercial, or industrial. This document is specifically designed to comply with UAE federal property laws and emirate-specific regulations, including requirements from various Land Departments. The form incorporates essential elements such as party identification, property details, payment terms, and transfer procedures, while accounting for unique UAE market considerations such as foreign ownership restrictions and Islamic finance principles. It is particularly important in major real estate markets like Dubai and Abu Dhabi, where property transactions must adhere to strict regulatory requirements and documentation standards.
Suggested Sections

1. Parties: Detailed identification of buyer and seller, including Emirates ID numbers for UAE residents or passport details for foreign buyers

2. Background: Context of the sale including property market status and transaction purpose

3. Definitions: Key terms used throughout the agreement including technical and legal terminology specific to UAE property law

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

5. Purchase Price: Agreed purchase price in AED, payment schedule, and method of payment including any escrow arrangements

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

7. Transfer of Ownership: Process and timeline for property registration and transfer at the relevant land department

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

9. Buyer's Obligations: Requirements for completing the purchase, including document submission and payment obligations

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

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

Optional Sections

1. Mortgage Arrangements: Include when property purchase involves mortgage financing, detailing bank requirements and conditions

2. Property Inspection: Include for existing properties to detail inspection findings and any agreed remedial works

3. Off-Plan Terms: Include for off-plan properties, detailing construction timeline, specifications, and developer obligations

4. Foreign Ownership Declaration: Include when buyer is non-UAE national, confirming eligibility to own property in the specified area

5. Service Charge Provisions: Include for properties in managed communities, detailing service charge obligations

6. Furniture and Fixtures: Include when sale includes furniture or fixed installations, with detailed inventory

7. Developer Approval: Include when developer's approval is required for transfer, especially in master communities

8. Tenancy Provisions: Include when property is sold with existing tenants, detailing lease terms and transfer conditions

Suggested Schedules

1. Schedule 1: Property Details: Detailed technical description, floor plans, and property boundaries as per title deed

2. Schedule 2: Payment Schedule: Detailed breakdown of payment installments with specific dates and amounts

3. Schedule 3: Due Diligence Documents: List of required documents including title deed, NOCs, and regulatory approvals

4. Schedule 4: Property Condition Report: Detailed assessment of property condition at time of sale

5. Appendix A: Required Documentation: Checklist of documents required from both parties for transfer registration

6. Appendix B: Land Department Requirements: Specific requirements and forms needed for the relevant emirate's land department

7. Appendix C: Property Photos: Recent photographs of the property documenting its current condition

8. Appendix D: Building Permits and Certificates: Copies of relevant permits, completion certificates, and regulatory approvals

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
Land Department
Title Deed
Transfer Date
Seller
Buyer
Broker
Completion Certificate
Registration Fee
Escrow Account
Due Diligence
Handover Date
Common Areas
Service Charges
Property Registration Number
Clearance Certificate
Transfer Fee
Emirates ID
NOC
Master Developer
Purchase Application
Down Payment
Building
Unit
RERA
Maintenance Agreement
Defect Liability Period
Payment Schedule
Affection Plan
Disclosure Statement
Transaction Documents
Property Law
Governing Authority
Occupancy Certificate
Site Plan
Mortgage
Building Management
Completion Notice
Ownership Title
Possession Date
Clauses
Property Description
Purchase Price
Payment Terms
Transfer of Title
Warranties
Due Diligence
Completion
Default
Force Majeure
Dispute Resolution
Governing Law
Registration
Property Inspection
Representations
Deposit
Handover
Termination
Notices
Assignment
Entire Agreement
Severability
Insurance
Service Charges
Title Guarantee
Conditions Precedent
Confidentiality
Further Assurance
Variations
Compliance
Property Condition
Third Party Rights
Documentation
Time of Essence
Costs
Escrow
Foreign Ownership
Real Estate Fees
Developer Obligations
Land Department Requirements
Good Faith
Relevant Industries

Real Estate

Banking & Finance

Construction

Property Development

Legal Services

Investment

Hospitality

Retail

Residential Property

Commercial Property

Industrial Property

Relevant Teams

Legal

Real Estate

Compliance

Sales

Business Development

Finance

Property Management

Investment

Operations

Risk Management

Corporate Services

Documentation

Relevant Roles

Real Estate Agent

Property Lawyer

Legal Counsel

Property Manager

Real Estate Director

Compliance Officer

Contract Manager

Real Estate Investment Manager

Property Developer

Sales Manager

Business Development Manager

Finance Manager

Property Consultant

Transaction Coordinator

Real Estate Portfolio Manager

Industries
UAE Civil Code (Federal Law No. 5 of 1985): Fundamental law governing contracts and property rights, including provisions for sale and purchase agreements, contractual obligations, and property ownership
UAE Federal Decree-Law No. 33 of 2021 (New Commercial Transactions Law): Regulates commercial transactions including property sales for commercial purposes and related payment terms
Law No. 7 of 2006 (Property Registration Law - Dubai): Specifies requirements for property registration and transfer of ownership in Dubai, including procedures and documentation
Law No. 3 of 2015 (Real Estate Regulatory Law - Dubai): Regulates real estate development, registration, and broker activities in Dubai
Law No. 19 of 2017 (Escrow Law): Governs escrow accounts and payment mechanisms in real estate transactions to protect buyers and sellers
Federal Decree-Law No. 26 of 2020: Regulates joint ownership of real estate and addresses common property management issues
UAE Anti-Money Laundering Law (Federal Decree Law No. 20 of 2018): Includes provisions affecting real estate transactions to prevent money laundering through property purchases
Law No. 13 of 2008 (Interim Real Estate Register): Regulates the registration of off-plan properties and related transactions
Federal Law No. 18 of 2017 (Foreign Ownership): Governs foreign ownership of real estate in various emirates and designated areas
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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