Purchase Agreement For House Template for United Arab Emirates

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Key Requirements PROMPT example:

Purchase Agreement For House

"I need a Purchase Agreement For House for a 3-bedroom villa in Dubai Marina, with a purchase price of 5 million AED and payment structure of 20% deposit and 80% on completion, targeting completion by March 2025."

Document background

The Purchase Agreement For House is a vital legal instrument used in UAE real estate transactions to formalize the sale and purchase of residential property. This document is essential for compliance with UAE federal laws and emirate-specific regulations governing property transactions. It serves as the primary contract between sellers and buyers, whether they are UAE nationals or foreign investors, detailing all aspects of the property transfer including payment terms, registration requirements, and party obligations. The agreement must be drafted in accordance with UAE Civil Code requirements and local land department regulations, often requiring both Arabic and English versions. It is particularly important in the UAE context due to specific requirements around property ownership, registration procedures, and payment mechanisms, including considerations for mortgages and escrow accounts where applicable.

Suggested Sections

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 transaction, including brief property description and parties' intention to enter into the sale and purchase transaction

3. Definitions: Definitions of key terms used throughout the agreement, including specific UAE real estate terminology

4. Property Details: Comprehensive description of the property including title deed number, property size, location, and registration details as per UAE land department requirements

5. Purchase Price: Specified purchase price in AED, payment schedule, and method of payment in compliance with UAE banking regulations

6. Payment Terms: Detailed breakdown of payment installments, deposit requirements, and final payment arrangements

7. Completion: Specifics of the completion process, including registration requirements with the relevant land department

8. Seller's Obligations: Detailed obligations of the seller including providing necessary documentation and ensuring clean title

9. Buyer's Obligations: Detailed obligations of the buyer including payment terms and registration requirements

10. Warranties and Representations: Standard warranties from both parties regarding capacity, ownership, and authority to enter into the agreement

11. Property Condition: Statement on the condition of the property and any agreed repairs or modifications

12. Title and Ownership: Confirmation of clear title and transfer of ownership process as per UAE property laws

13. Registration and Transfer: Process and requirements for property registration with the relevant land department

14. Costs and Fees: Allocation of transaction costs, registration fees, and broker commissions

15. Governing Law and Jurisdiction: Specification of UAE law as governing law and jurisdiction of UAE courts

16. Notices: Process for serving formal notices between parties

17. General Provisions: Standard contractual provisions including severability, entire agreement, and amendments

Optional Sections

1. Mortgage Arrangements: Required when the property purchase involves mortgage financing, detailing the mortgage provider and arrangements

2. Foreign Ownership: Required when the buyer is a non-UAE national, including specific requirements and restrictions

3. Property Management: Required when including arrangements for property management during transition period

4. Utilities and Services: Optional section detailing the transfer of utility accounts and service contracts

5. Furniture and Fixtures: Required when the sale includes specific furniture or fixtures, with detailed inventory

6. Defect Liability: Optional for new properties, specifying warranty periods and defect resolution processes

7. Broker Arrangements: Required when real estate brokers are involved in the transaction

8. Escrow Arrangements: Required when using an escrow account for the transaction

9. Condition Precedents: Optional section for any specific conditions that must be met before completion

10. Post-Completion Obligations: Optional section detailing any obligations that continue after completion

Suggested Schedules

1. Property Title Deed: Copy of the current title deed and property ownership documentation

2. Property Plans: Official floor plans and location maps from the land department

3. Inventory List: Detailed list of any included furniture, fixtures, and fittings

4. Payment Schedule: Detailed breakdown of payment installments and due dates

5. Property Inspection Report: Recent inspection report detailing property condition

6. Service Charge Statement: Statement of current and pending service charges

7. NOC Documents: Relevant No Objection Certificates from developer or authorities

8. Declaration Forms: Standard UAE property transaction declaration forms

9. Property Photographs: Recent photographs documenting property condition

10. Utilities Statement: Current status of utility accounts and outstanding payments

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

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Real Estate

Legal Services

Banking and Finance

Property Development

Construction

Insurance

Property Management

Professional Services

Investment

Facilities Management

Relevant Teams

Legal

Real Estate

Compliance

Property Management

Sales

Documentation

Investment

Operations

Risk Management

Client Relations

Relevant Roles

Real Estate Lawyer

Property Manager

Real Estate Agent

Compliance Officer

Legal Counsel

Contract Manager

Property Developer

Investment Manager

Real Estate Director

Transaction Manager

Chief Legal Officer

Real Estate Investment Advisor

Property Acquisition Manager

Real Estate Operations Manager

Documentation Specialist

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Real Estate Buyer Seller Agreement Form

UAE-governed agreement between property seller and buyer, detailing sale terms and conditions in compliance with UAE real estate laws.

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Let's create your Purchase Agreement For House

Authors

Alex Denne

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