Property Sales Contract Between Seller And Buyer for United Arab Emirates

Property Sales Contract Between Seller And Buyer Template for United Arab Emirates

A comprehensive legal agreement governed by UAE law that facilitates the transfer of real estate property ownership from seller to buyer. This document complies with UAE Civil Code requirements and relevant emirate-specific property laws, particularly in Dubai and Abu Dhabi. It details the terms and conditions of the sale, including property specifications, purchase price, payment terms, warranties, and completion requirements. The contract ensures compliance with local property registration requirements and includes necessary provisions for foreign ownership if applicable.

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What is a Property Sales Contract Between Seller And Buyer?

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.

What sections should be included in a Property Sales Contract Between Seller And Buyer?

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

What sections are optional to include in a Property Sales Contract Between Seller And Buyer?

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

What schedules should be included in a Property Sales Contract Between Seller And Buyer?

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

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

Publisher

Genie AI

Document Type

Sales Agreement

Sector

Sales

Cost

Free to use
Relevant legal definitions
Clauses
Relevant Industries

Real Estate

Property Development

Legal Services

Banking and Finance

Construction

Property Management

Real Estate Investment

Property Insurance

Facilities Management

Urban Development

Relevant Teams

Legal

Real Estate

Compliance

Sales

Operations

Property Management

Contract Administration

Risk Management

Business Development

Investment

Relevant Roles

Real Estate Agent

Property Lawyer

Legal Counsel

Property Developer

Real Estate Manager

Compliance Officer

Property Consultant

Sales Director

Contract Manager

Real Estate Investment Manager

Property Valuation Specialist

Transaction Manager

Legal Director

Real Estate Portfolio Manager

Property Operations Manager

Industries
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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