Letter Of Intent To Sell Property To Tenant Template for United Arab Emirates

A Letter Of Intent To Sell Property To Tenant is commonly used in the United Arab Emirates when a property owner decides to sell their property to the current tenant. This document serves as a crucial intermediate step between the informal discussion phase and the formal sale agreement. It outlines the principal terms of the proposed transaction, including purchase price, payment terms, timeline, and specific conditions related to the existing tenancy. While primarily non-binding, it demonstrates serious intent from both parties and provides a structured framework for proceeding with the transaction. The document must comply with UAE property laws, including Federal Law No. 5 of 1985 (Civil Code) and relevant emirate-specific property regulations. It's particularly useful in complex transactions where the transition from tenant to owner requires careful consideration of existing lease obligations and property transfer requirements.

1. Date and Address Block: Formal letter heading with date and parties' addresses

2. Subject Line: Clear indication that this is a Letter of Intent for Property Sale to Tenant

3. Opening Statement: Formal introduction and identification of parties (seller/landlord and tenant/potential buyer)

4. Property Details: Precise identification of the property including address, title deed number, and registration details

5. Current Tenancy Status: Acknowledgment of existing tenancy relationship and current lease terms

6. Proposed Purchase Price: Statement of the offered/agreed purchase price and payment terms

7. Timeline: Proposed timeline for sale completion and key milestones

8. Due Diligence: Overview of required documentation and inspection rights

9. Conditions Precedent: Key conditions that must be met before proceeding with the sale

10. Non-Binding Statement: Clear statement that this is a non-binding LOI except for specific clauses

11. Closing: Signature blocks and formal letter closing