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1. Parties: Identification of the Owner/Seller-Lessor and the Tenant/Buyer-Lessee, including full legal names, Emirates ID numbers, and contact details
2. Background: Context of the agreement, including property details and the parties' intention to enter into a rent-to-own arrangement
3. Definitions: Key terms used throughout the agreement, including Property, Purchase Price, Rental Period, Option Period, and Payment Terms
4. Property Details: Comprehensive description of the property, including location, size, specifications, and registration details
5. Term and Possession: Duration of the lease period, conditions for possession, and key dates including commencement and option exercise dates
6. Rental Payments: Details of monthly rental payments, including amount, payment method, and due dates
7. Purchase Option Terms: Conditions for exercising the purchase option, including purchase price, credit for rental payments, and exercise period
8. Maintenance and Repairs: Responsibilities for property maintenance, repairs, and improvements during the rental period
9. Insurance and Risk: Requirements for property insurance and allocation of risk during the lease period
10. Default and Termination: Events of default, remedies, and termination procedures
11. Property Transfer Provisions: Process and requirements for transferring property title upon exercise of the purchase option
12. Governing Law and Jurisdiction: Applicable UAE laws and jurisdiction for dispute resolution
1. Sharia Compliance Declaration: Required if the transaction needs to be explicitly Sharia-compliant, including relevant scholar approvals
2. Mortgage Provisions: Required if third-party financing is involved in the purchase option
3. Property Management: Needed for properties within managed communities or those requiring specific management arrangements
4. Assignment and Subletting: Include if parties want to address the possibility of transfer or subletting rights
5. Force Majeure: Optional clause addressing unforeseen circumstances affecting contract performance
6. Escrow Arrangements: Required if payments are to be held in escrow during the rental period
7. Common Area Provisions: Needed for properties in multi-unit developments
8. Renovation Rights: Include if tenant-buyer is permitted to make property modifications during the rental period
1. Property Specification Schedule: Detailed description of the property, including floor plans and specifications
2. Payment Schedule: Breakdown of rental payments, purchase option credits, and purchase price calculations
3. Condition Report: Initial property condition assessment and inventory
4. Maintenance Schedule: List of maintenance responsibilities and scheduled maintenance requirements
5. Required Permits and Approvals: List of necessary governmental and regulatory approvals
6. Property Title Documents: Copies of current title deed and related property documents
7. Service Charges Schedule: Details of applicable service charges and payment responsibilities
8. Purchase Option Exercise Form: Template form for exercising the purchase option
Property
Commencement Date
Term
Rental Period
Option Period
Purchase Option
Purchase Price
Rental Payment
Option Fee
Deposit
Purchase Credit
Exercise Notice
Completion Date
Transfer Date
Common Areas
Service Charges
Maintenance Charges
RERA
Title Deed
Permitted Use
Building
Lessor
Lessee
Buyer
Seller
Business Day
Force Majeure Event
Escrow Account
Escrow Agent
Default Event
Utilities
Improvements
Property Manager
Registration Fee
Transfer Fee
Applicable Laws
Maintenance Obligations
Insurance Requirements
Notice
Breach
Termination Date
Security Deposit
Payment Due Date
Property Valuation
Occupancy Certificate
Handover Date
Defect Liability Period
Completion Certificate
Property Description
Term and Renewal
Rental Payments
Purchase Option
Security Deposit
Property Use
Maintenance and Repairs
Utilities and Services
Insurance
Assignment and Subletting
Alterations and Improvements
Access Rights
Default and Remedies
Termination
Force Majeure
Property Transfer
Registration
Title Warranties
Risk Allocation
Notices
Representations and Warranties
Indemnification
Dispute Resolution
Governing Law
Compliance
Escrow Arrangements
Service Charges
Common Areas
Property Management
Condition Precedent
Payment Terms
Option Exercise
Property Handover
Defects Liability
Sharia Compliance
Entire Agreement
Severability
Amendment
Waiver
Real Estate
Property Development
Banking and Finance
Property Management
Legal Services
Construction
Real Estate Investment
Islamic Finance
Property Technology
Insurance
Legal
Real Estate
Finance
Compliance
Risk Management
Operations
Sales
Business Development
Property Management
Investment
Valuations
Islamic Banking
Real Estate Manager
Property Development Director
Legal Counsel
Contract Manager
Finance Director
Property Portfolio Manager
Real Estate Investment Officer
Compliance Officer
Risk Manager
Asset Manager
Property Valuation Specialist
Real Estate Operations Manager
Sales Director
Business Development Manager
Islamic Finance Specialist
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