Document background
The Free Home Purchase Agreement is a fundamental legal document used in the United Arab Emirates for residential property transactions where there is a direct transfer of ownership from seller to buyer. This agreement is essential for documenting the terms and conditions of property sales in compliance with UAE property laws and regulations. It covers crucial aspects such as property details, purchase price, payment terms, completion requirements, and registration procedures. The document is particularly important in the UAE context as it must address specific local requirements, including property registration with relevant authorities and compliance with foreign ownership restrictions where applicable. This agreement type is commonly used for both ready and off-plan properties, ensuring all parties' rights are protected under UAE law.
