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Real Estate Sales Contract For Sale By Owner

Real Estate Sales Contract For Sale By Owner Template for United Arab Emirates

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Key Requirements PROMPT example:

Real Estate Sales Contract For Sale By Owner

"I need a Real Estate Sales Contract For Sale By Owner for my 2-bedroom apartment in Dubai Marina, with completion scheduled for March 2025, including specific provisions for existing tenant rights and maintenance fee arrangements."

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Document background
The Real Estate Sales Contract For Sale By Owner is a crucial legal instrument used in the UAE for direct property transactions where owners choose to sell their property without broker involvement. This document is designed to comply with UAE Federal Law No. 5 of 1985 (Civil Code) and various Emirates' property laws, particularly focusing on Dubai and Abu Dhabi regulations. It serves as a comprehensive agreement capturing all essential elements of the property sale, including detailed property description, payment terms, warranties, and transfer procedures. The contract is particularly relevant in cases where property owners wish to maintain direct control over the sales process while ensuring full legal compliance with UAE property registration requirements and transfer procedures. It includes specific provisions required by the UAE Land Department for property registration and provides a framework for both parties to understand their rights and obligations throughout the transaction process.
Suggested Sections

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

2. Background: Context of the sale, including property ownership history and current status

3. Definitions: Key terms used throughout the agreement, including property-specific terminology and legal terms

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: Agreed purchase price, payment terms, deposit requirements, and payment schedule in compliance with UAE regulations

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

7. Completion: Procedures and requirements for completing the sale, including registration with relevant authorities

8. Seller's Warranties: Seller's representations regarding property ownership, absence of disputes, and compliance with regulations

9. Buyer's Warranties: Buyer's representations regarding financial capacity and compliance with UAE property ownership laws

10. Property Handover: Terms and conditions for physical handover of the property, including timing and inspection requirements

11. Registration and Transfer: Process and requirements for property registration with the UAE Land Department

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

13. Governing Law: Specification of UAE law as governing law and relevant jurisdiction

14. Notices: Process for formal communications between parties

15. Entire Agreement: Confirmation that the contract represents the complete agreement between parties

Optional Sections

1. Condition of Property: Detailed description of property condition, used when selling property as-is or with specific condition notes

2. Mortgage Requirements: Include when buyer is obtaining mortgage financing, specifying conditions and requirements

3. Foreign Ownership: Required when buyer is a foreign national, addressing specific requirements and restrictions

4. Property Management: Include when property is part of a managed community, specifying service charges and obligations

5. Existing Tenancy: Used when property is sold with existing tenants, specifying treatment of lease agreements

6. Furniture and Fixtures: Include when sale includes furniture or specific fixtures, with detailed inventory

7. Development Completion: Required for off-plan properties or properties under construction

8. Defect Liability: Include when specific warranties about property condition are being provided

9. Power of Attorney: Include when any party is acting through a legal representative

Suggested Schedules

1. Property Title Deed: Copy of official property title deed and registration details

2. Property Floor Plan: Detailed floor plan and property layout drawings

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

4. Property Photographs: Recent photographs documenting property condition

5. Inventory List: Detailed list of included furniture and fixtures (if applicable)

6. Service Charge Statement: Current statement of service charges and maintenance fees

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

8. Property Inspection Report: Third-party property inspection findings and condition assessment

9. Building Permits: Copies of relevant building permits and completion certificates

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
Title Deed
Purchase Price
Deposit
Completion Date
Completion
Business Day
Land Department
Transfer Date
Registration Fee
Property Documents
Encumbrances
Warranties
Force Majeure
Handover Date
Possession
Service Charges
Title Registration
Common Areas
Master Developer
Governing Law
NOC
Payment Schedule
Seller's Representations
Buyer's Representations
Completion Notice
Due Diligence
Material Defect
Permitted Use
Property Manager
Transfer Documents
Unit
Utilities
Working Hours
Defect Liability Period
Maintenance Charges
Registration Procedures
Sale Agreement
Term
Clauses
Property Description
Purchase Price
Payment Terms
Title Transfer
Registration Requirements
Warranties and Representations
Due Diligence
Property Condition
Handover
Seller Obligations
Buyer Obligations
Completion
Default
Termination
Force Majeure
Dispute Resolution
Governing Law
Notices
Assignment
Entire Agreement
Severability
Costs and Expenses
Indemnification
Property Insurance
Utilities Transfer
Service Charges
Maintenance
Defect Liability
Regulatory Compliance
Anti-Money Laundering
Foreign Ownership
Property Access
Confidentiality
Further Assurance
Amendments
Time of Essence
Survival
Third Party Rights
Language
Counterparts
Relevant Industries

Real Estate

Property Development

Construction

Banking and Finance

Legal Services

Property Management

Hospitality

Retail

Commercial Property

Residential Property

Investment and Asset Management

Relevant Teams

Legal

Real Estate

Compliance

Finance

Property Management

Asset Management

Contract Administration

Risk Management

Corporate Secretariat

Investment

Relevant Roles

Property Owner

Real Estate Manager

Legal Counsel

Property Lawyer

Compliance Officer

Finance Manager

Asset Manager

Property Valuation Specialist

Transaction Manager

Contract Administrator

Property Registration Officer

Real Estate Director

Investment Manager

Chief Financial Officer

Legal Director

Company Secretary

Industries
UAE Civil Code (Federal Law No. 5 of 1985): Provides the fundamental principles for contracts and property rights, including provisions for sale contracts and transfer of ownership
UAE Property Law (Law No. 27 of 2007): Regulates property registration and ownership rights in the UAE, including requirements for valid property transfers
Law No. 13 of 2008 (Dubai): Regulates the Interim Real Estate Register in Dubai, including provisions for off-plan property sales and registration requirements
Law No. 9 of 2009 (Dubai): Amends certain provisions regarding interim property registration and specifies requirements for property transfers
Executive Council Resolution No. 6 of 2010: Approves regulations concerning property registration in Dubai, including procedures and documentation requirements
Federal Law No. 4 of 2012: Regulates competition and anti-monopoly practices, relevant for property sales and market practices
Law No. 3 of 2015: Dubai Land Department regulations governing real estate transactions and broker involvement
UAE Federal Law No. 8 of 2004: Regarding financial free zones, relevant for property transactions in special economic zones
Anti-Money Laundering Laws (Federal Decree Law No. 20 of 2018): Establishes requirements for financial transactions in real estate to prevent money laundering
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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