Car Ownership Contract Template for United Arab Emirates

The Car Ownership Contract is a crucial legal document used in the United Arab Emirates for documenting and executing the transfer of vehicle ownership between parties. This contract type is essential for both private and commercial vehicle sales, ensuring compliance with UAE Federal Traffic Law No. 21 of 1995 and local emirate regulations. It protects both buyers' and sellers' interests by clearly documenting the vehicle's condition, sale price, and transfer terms. The document is required for registration with the Roads and Transport Authority (RTA) and other relevant government bodies, and can be used for various transaction types including private sales, dealership purchases, and corporate fleet transfers. It includes provisions for both cash and financed purchases, incorporating necessary clauses for UAE banking regulations when applicable.

1. Parties: Identification of the seller and buyer with complete details including Emirates ID numbers

2. Background: Brief context of the transaction and purpose of the agreement

3. Definitions: Key terms used throughout the agreement including 'Vehicle', 'Transfer Date', 'Purchase Price'

4. Vehicle Details: Comprehensive description of the vehicle including make, model, year, color, chassis number, engine number, and registration details

5. Purchase Price and Payment Terms: Agreed purchase price, payment method, and payment schedule if applicable

6. Transfer of Ownership: Process and conditions for legal transfer of vehicle ownership including RTA requirements

7. Seller's Representations and Warranties: Seller's declarations regarding vehicle condition, ownership, and absence of encumbrances

8. Buyer's Obligations: Buyer's responsibilities including registration, insurance, and compliance with traffic laws

9. Handover Process: Details of physical vehicle handover including timing, location, and documentation

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