The Property Sales Contract Between Seller And Buyer is a fundamental legal document used in the United Arab Emirates for real estate transactions. It serves as the primary agreement for transferring property ownership, ensuring compliance with UAE Civil Code (Federal Law No. 5 of 1985) and relevant emirate-specific property laws. This contract is essential for both residential and commercial property transactions, requiring registration with the relevant Land Department. It includes crucial details such as property specifications, payment terms, warranties, and completion requirements. The document is designed to protect both parties' interests while ensuring compliance with local regulations, including specific provisions for foreign ownership where applicable. It's particularly important in major real estate markets like Dubai and Abu Dhabi, where property transactions are strictly regulated.
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1. Parties: Identification of seller and buyer with full legal names, Emirates ID numbers, and contact details as required by UAE law
2. Background: Context of the sale and confirmation of seller's ownership and right to sell
3. Definitions: Key terms used throughout the agreement including Property, Completion Date, Purchase Price, and other relevant terms
4. Property Details: Comprehensive description of the property including location, size, registration details, and title deed number
5. Purchase Price: Agreed purchase price and payment structure including deposit and completion payment details
6. Payment Terms: Detailed payment schedule, method of payment, and consequences of default
7. Completion Requirements: Conditions for completion, including documentation requirements and registration procedures
8. Seller's Warranties: Warranties regarding property ownership, absence of encumbrances, and compliance with laws
9. Transfer of Ownership: Process and obligations for transferring property ownership at the relevant land department
10. Costs and Fees: Allocation of registration fees, transfer fees, and other associated costs
11. Default and Termination: Consequences of breach and termination rights
12. Governing Law and Jurisdiction: Confirmation of UAE law application and jurisdiction for disputes
1. Mortgage Arrangements: Include when the property is subject to an existing mortgage or buyer requires mortgage financing
2. Property Condition: Detailed section on property condition when selling as-is or with specific conditions
3. Off-Plan Provisions: Required for off-plan properties, including construction milestones and developer obligations
4. Tenant Rights: Include when property is sold with existing tenants
5. Furniture and Fixtures: Include when sale includes specific furniture or fixtures
6. Escrow Arrangements: Include when using escrow services for payment security
7. Foreign Ownership Declaration: Required when buyer is a foreign national
8. Service Charge Provisions: Include for properties in managed communities with service charges
9. Developer Approval: Include when developer approval is required for transfer
1. Property Specification Schedule: Detailed technical description of property including floor plans and boundaries
2. Payment Schedule: Detailed breakdown of payment instalments and due dates
3. Title Documents: Copies of title deed and other ownership documents
4. Property Condition Report: Detailed report on property condition with photographs
5. Inventory List: List of included furniture and fixtures if applicable
6. Service Charge Statement: Current service charge statement and payment status
7. NOC Documents: Copies of necessary No Objection Certificates
8. Property Plans: Approved architectural plans and layout drawings
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