Buyer Seller Home Contract Template for United Arab Emirates

The Buyer Seller Home Contract is a fundamental legal document used in the United Arab Emirates for residential property transactions. It serves as the primary agreement between parties seeking to transfer residential property ownership, incorporating essential elements required by UAE Civil Code and relevant property laws. This document is specifically designed to comply with UAE federal legislation and emirate-specific requirements, including provisions for foreign ownership restrictions, property registration procedures, and local market practices. The contract addresses crucial aspects such as property specifications, payment terms, completion requirements, and warranty provisions, while ensuring alignment with UAE property regulations and transfer procedures. It is particularly relevant for both local and international buyers and sellers, providing a comprehensive framework for residential property transactions in the UAE market.

1. Parties: Identification of the Seller and Buyer, including full legal names, Emirates ID numbers (for UAE residents), passport numbers, and contact details

2. Background: Brief context of the transaction, including property ownership status and intention to sell/purchase

3. Definitions: Key terms used throughout the agreement, including Property, Completion Date, Purchase Price, Deposit, etc.

4. Property Details: Comprehensive description of the property including address, size, type, registration details, and TRAKHEESI number

5. Purchase Price and Payment Terms: Detailed breakdown of the purchase price, payment schedule, and method of payment

6. Deposit: Amount of deposit, payment terms, and conditions for holding/release

7. Completion Requirements: Conditions for completion, including documentation requirements and registration procedures

8. Seller's Warranties: Warranties regarding property ownership, no encumbrances, and condition of the property

9. Buyer's Warranties: Warranties regarding financial capacity and compliance with UAE property ownership laws

10. Property Handover: Terms and conditions for physical handover of the property, including timing and inspection requirements

11. Registration and Transfer: Process and requirements for property registration with relevant authorities

12. Costs and Fees: Allocation of transaction costs, including registration fees, agent commissions, and transfer fees

13. Default and Termination: Consequences of default by either party and termination provisions

14. Governing Law and Jurisdiction: Specification of UAE law as governing law and jurisdiction of UAE courts