Sale Leaseback Agreement for United Arab Emirates

Sale Leaseback Agreement Template for United Arab Emirates

A comprehensive legal document governed by UAE law that combines both a property sale agreement and a subsequent lease arrangement, whereby the original owner sells their property and immediately leases it back for continued use. This agreement template is structured to comply with UAE Federal Laws, including the Civil Code and Commercial Code, as well as specific emirate-level property regulations. It addresses both the transfer of property ownership and the establishment of a long-term lease relationship, including detailed provisions for property use, maintenance, rent payments, and potential future purchase options.

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What is a Sale Leaseback Agreement?

The Sale Leaseback Agreement Template is designed for use in the United Arab Emirates when a property owner wishes to sell their property while maintaining operational control through a long-term lease arrangement. This type of agreement is commonly used as a financing mechanism, allowing organizations to unlock capital tied up in real estate while retaining use of the property. The template complies with UAE Federal Laws, including Civil Code (Federal Law No. 5 of 1985) and relevant emirate-specific property regulations. It encompasses both the sale transaction and the subsequent lease arrangement, including provisions for property transfer, registration requirements, lease terms, maintenance obligations, and potential repurchase rights. The document is particularly valuable for companies seeking to improve their balance sheet while maintaining operational continuity.

What sections should be included in a Sale Leaseback Agreement?

1. Parties: Identification of the Seller/Future Tenant and Buyer/Future Landlord with full legal names and details

2. Background: Context of the transaction, including property details and purpose of the sale-leaseback arrangement

3. Definitions: Key terms used throughout the agreement including Property, Completion Date, Lease Commencement Date, Rent, etc.

4. Sale Agreement: Terms of the sale including purchase price, payment terms, and completion mechanics

5. Property Transfer: Provisions regarding the transfer of title, registration requirements, and warranties of title

6. Lease Terms: Core lease provisions including term, rent, payment schedule, and permitted use

7. Condition and Maintenance: Responsibilities for property maintenance, repairs, and improvements

8. Insurance and Risk: Insurance requirements and allocation of risk between parties

9. Default and Remedies: Consequences of default under either the sale or lease provisions

10. Termination: Circumstances and procedures for termination of the lease

11. Governing Law and Jurisdiction: Specification of UAE law application and jurisdiction for disputes

12. Notices: Process and requirements for formal communications between parties

What sections are optional to include in a Sale Leaseback Agreement?

1. Purchase Option: Grants tenant the option to repurchase the property under specified conditions

2. Environmental Matters: Required for industrial properties or where environmental concerns exist

3. Service Charge Provisions: Needed for properties in multi-tenant buildings or compounds

4. Assignment and Subletting: Additional provisions regarding transfer of lease rights

5. Alterations and Improvements: Detailed provisions for property modifications, particularly relevant for commercial properties

6. Islamic Finance Compliance: Additional provisions ensuring compliance with Sharia principles if required

7. Tax Provisions: Specific provisions dealing with VAT and other applicable taxes

8. Break Clause: Optional early termination rights for either party

What schedules should be included in a Sale Leaseback Agreement?

1. Property Description: Detailed legal description of the property including title details and floor plans

2. Lease Terms Schedule: Detailed commercial terms of the lease including rent, payment dates, and review mechanisms

3. Condition Schedule: Detailed description of property condition at the time of sale

4. Service Charges Schedule: Breakdown of service charges and operating expenses if applicable

5. Permitted Alterations: List of pre-approved alterations or improvements

6. Form of Transfer/Title Deed: Template for property transfer documentation

7. Due Diligence Documents: List of property-related documents and warranties

8. Handover Protocol: Procedures and requirements for property handover

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

Cost

Free to use

Relevant legal definitions

Clauses

Relevant Industries

Real Estate

Banking and Financial Services

Commercial Property

Industrial Manufacturing

Retail

Healthcare

Hospitality

Logistics and Warehousing

Education

Office Space Management

Relevant Teams

Legal

Finance

Real Estate

Operations

Facilities Management

Risk and Compliance

Treasury

Asset Management

Property Management

Corporate Development

Relevant Roles

Chief Financial Officer

Real Estate Director

Legal Counsel

Property Manager

Facilities Manager

Corporate Treasurer

Asset Manager

Investment Manager

Commercial Director

Operations Director

Risk Manager

Compliance Officer

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What is a Sale Leaseback Agreement?

What sections should be included in a Sale Leaseback Agreement?

What sections are optional to include in a Sale Leaseback Agreement?

What schedules should be included in a Sale Leaseback Agreement?

Authors

Alex Denne

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