Property Sale Contract Between Seller And Buyer Template for United Arab Emirates

The Property Sale Contract Between Seller And Buyer is a fundamental legal document used in the United Arab Emirates for transferring ownership of real property. This contract type is essential for any real estate transaction in the UAE and must comply with both federal laws (particularly UAE Civil Code) and specific emirate-level regulations. It is used when transferring ownership of various types of properties, including residential, commercial, and industrial real estate. The document includes crucial elements such as property details, payment terms, completion requirements, and necessary government approvals. It must account for UAE-specific requirements such as property registration procedures, foreign ownership restrictions, and mandatory disclosures. The contract serves as the primary evidence of the transaction and is required for property registration at the relevant Land Department.

1. Parties: Identification of the Seller and Buyer with full legal names, Emirates ID numbers, and contact details as required by UAE law

2. Background: Context of the sale, confirmation of Seller's ownership, and property registration status

3. Definitions: Key terms used throughout the agreement, including Property, Completion Date, Purchase Price, and other relevant defined terms

4. Sale and Purchase: Core agreement to sell and purchase the Property, including the exact description of the Property as per its title deed

5. Purchase Price: Detailed breakdown of the purchase price, payment schedule, and payment mechanics compliant with UAE regulations

6. Deposit: Amount, payment terms, and conditions for holding and releasing the deposit

7. Conditions Precedent: Prerequisites for completion, including necessary government approvals and NOCs

8. Seller's Warranties: Warranties regarding ownership, authority to sell, property condition, and absence of encumbrances

9. Buyer's Warranties: Warranties regarding authority to purchase and financial capacity

10. Completion: Completion mechanics, including timing, location, and required actions by each party

11. Transfer of Title: Process for transferring title at the relevant Land Department

12. Costs and Fees: Allocation of transfer fees, registration fees, and other transaction costs

13. Default and Termination: Consequences of default and termination rights

14. Notices: Process for serving formal notices between parties

15. Governing Law and Jurisdiction: Confirmation of UAE law governance and jurisdiction of UAE courts