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Deed Of Sale By Co Owners Of Undivided Property

Deed Of Sale By Co Owners Of Undivided Property Template for United Arab Emirates

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Deed Of Sale By Co Owners Of Undivided Property

"I need a Deed of Sale by Co-Owners of Undivided Property for a residential villa in Dubai Marina, where three family members are selling their inherited shares to a single buyer, with completion planned for March 2025 and specific requirements for distribution of proceeds."

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Document background
The Deed of Sale by Co-Owners of Undivided Property is a crucial legal document used in the United Arab Emirates when multiple owners of an undivided property wish to sell their collective interest. This document is particularly relevant in situations involving inherited properties, joint investments, or any scenario where multiple parties hold undivided ownership shares. The deed must comply with UAE Civil Code requirements and property laws, ensuring proper documentation of ownership transfer, payment terms, and seller warranties. It includes detailed property descriptions, ownership share specifications, and completion requirements, making it essential for complex property transactions involving multiple sellers. The document serves as official evidence of the transfer and must be registered with relevant UAE authorities, particularly the Land Department.
Suggested Sections

1. Parties: Identification of all co-owners as sellers and the buyer(s), including their full legal names, addresses, and Emirates ID numbers

2. Background: History of co-ownership, current ownership shares, and context of the sale decision

3. Definitions: Key terms used throughout the deed, including 'Property', 'Ownership Shares', 'Completion Date', etc.

4. Property Details: Comprehensive description of the undivided property, including location, size, registration details, and existing encumbrances

5. Ownership Declaration: Statement of current ownership shares and confirmation of right to sell

6. Sale Agreement: Core terms of the sale including price, payment terms, and transfer of ownership

7. Completion Requirements: Conditions and steps required for completing the sale

8. Warranties and Representations: Warranties from co-owners regarding their right to sell, property condition, and absence of disputes

9. Costs and Taxes: Allocation of transfer fees, registration costs, and other expenses

10. Registration and Transfer: Process for registering the transfer with relevant authorities

11. Governing Law and Jurisdiction: Confirmation of UAE law application and jurisdiction

Optional Sections

1. Power of Attorney: Required if any co-owner is acting through a representative

2. Tenant Rights: Include if the property is currently leased or has existing tenants

3. Mortgage Details: Required if the property has any existing mortgage or financing

4. Dispute Resolution: Detailed dispute resolution procedures, recommended for high-value properties

5. Condition Report: Detailed description of property condition, recommended for properties with specific issues or valuable features

6. Co-owner Agreement: Special terms agreed between co-owners regarding distribution of proceeds

Suggested Schedules

1. Schedule 1 - Property Description: Detailed technical description of the property including plot numbers, floor plans, and boundaries

2. Schedule 2 - Ownership Shares: Detailed breakdown of current ownership shares and corresponding rights

3. Schedule 3 - Title Documents: List of all relevant title documents and registration certificates

4. Schedule 4 - Payment Schedule: Detailed payment terms and installment schedule if applicable

5. Appendix A - Property Photos: Recent photographs of the property

6. Appendix B - Due Diligence Documents: Copies of relevant permits, certificates, and compliance documents

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

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Agreement
Property
Co-Owners
Ownership Shares
Undivided Interest
Purchase Price
Completion Date
Completion
Transfer Date
Effective Date
Business Day
Deposit
Title Deed
Encumbrances
Land Department
Registration Fees
Transfer Fees
Warranties
Permitted Use
Common Areas
Property Documents
Due Diligence Documents
Relevant Authority
Completion Documents
Sale Contract
Possession
Outstanding Liabilities
Existing Tenancies
Property Rights
Governing Law
Force Majeure
Material Adverse Change
Notices
Register
Representatives
Security Interest
Third Party Rights
UAE Dirham
Working Hours
Clauses
Interpretation
Property Description
Ownership Declaration
Sale and Purchase
Purchase Price
Payment Terms
Conditions Precedent
Completion
Co-owners' Warranties
Transfer of Title
Registration Requirements
Property Condition
Representations
Risk and Insurance
Costs and Expenses
Tax Obligations
Property Handover
Existing Tenancies
Encumbrances
Due Diligence
Indemnification
Force Majeure
Severability
Entire Agreement
Amendments
Notices
Governing Law
Dispute Resolution
Assignment
Further Assurance
Relevant Industries

Real Estate

Property Development

Banking and Finance

Legal Services

Construction

Property Investment

Real Estate Management

Property Consulting

Commercial Property

Residential Property

Relevant Teams

Legal

Real Estate

Property Management

Compliance

Risk Management

Documentation

Investment

Asset Management

Operations

Transaction Advisory

Relevant Roles

Real Estate Lawyer

Property Manager

Legal Counsel

Real Estate Agent

Property Developer

Investment Manager

Compliance Officer

Title Officer

Real Estate Consultant

Property Valuation Specialist

Contract Manager

Legal Director

Real Estate Transaction Manager

Property Rights Specialist

Conveyancing Manager

Industries
UAE Civil Code (Federal Law No. 5 of 1985): Fundamental law governing property rights, ownership, and transactions, including provisions for sale contracts and property transfer
UAE Property Law (Law No. 27 of 2007): Regulates property ownership, registration, and transfer procedures in the UAE, including provisions for foreign ownership
Common Property Law (Law No. 27 of 2007): Governs joint ownership rights and obligations, including procedures for dealing with undivided property
UAE Registration Law: Specifies requirements for property registration and documentation of ownership transfer
UAE Law of Evidence (Federal Law No. 10 of 1992): Stipulates requirements for documentation and proof of ownership and sale transactions
Notary Public Law (Federal Law No. 22 of 1991): Governs the authentication and notarization requirements for property sale documents
Dubai Land Department Regulations: Specific regulations governing property transactions and registration in Dubai, including requirements for co-owned property transfers
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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