Simple Real Estate Purchase Agreement Template for United Arab Emirates

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Key Requirements PROMPT example:

Simple Real Estate Purchase Agreement

"I need a Simple Real Estate Purchase Agreement for a residential apartment sale in Dubai Marina, where I'm the individual seller transferring the property to a first-time buyer, with completion planned for March 2025."

Document background
The Simple Real Estate Purchase Agreement is a fundamental legal document used in the United Arab Emirates for property transactions between buyers and sellers. This document is essential for both residential and commercial property transfers in the UAE, ensuring compliance with federal laws and emirate-specific regulations. It is designed to protect both parties' interests while facilitating smooth property transfers in accordance with UAE real estate laws. The agreement covers crucial elements including property details, payment terms, completion requirements, and obligations of all parties involved. It is particularly relevant in Dubai and Abu Dhabi's dynamic real estate markets, where clear documentation of property transactions is mandatory. The document can be used for various types of properties, from residential apartments to commercial buildings, and can be adapted to accommodate both individual and corporate transactions.
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 and brief description of the property being sold

3. Definitions: Definitions of key terms used throughout the agreement

4. Property Details: Comprehensive description of the property including title deed number, property size, location, and any inclusions/exclusions

5. Purchase Price: The agreed purchase price and payment structure, including deposit requirements

6. Payment Terms: Detailed payment schedule, method of payment, and escrow arrangements if applicable

7. Completion: Conditions for completion, timeline, and process for transfer of ownership

8. Seller's Obligations: Seller's commitments including providing clear title, maintenance until handover, and required documentation

9. Buyer's Obligations: Buyer's commitments including payment obligations and registration requirements

10. Representations and Warranties: Standard warranties about property ownership, condition, and legal status

11. Default and Remedies: Consequences of breach by either party and available remedies

12. Governing Law and Jurisdiction: Specification of UAE law as governing law and jurisdiction for disputes

13. Notices: Process for formal communications between parties

14. Execution: Signature blocks and execution requirements

Optional Sections

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

2. Mortgage Contingency: Include when buyer's purchase is contingent on obtaining mortgage financing

3. Property Management: Include when there are ongoing tenancies or property management arrangements

4. Service Charges: Include for properties in managed communities with service charges

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

6. Power of Attorney: Include when either party is acting through an authorized representative

7. Broker Provisions: Include when real estate brokers are involved in the transaction

8. Furniture and Fixtures: Include when sale includes specific furniture or fixtures

Suggested Schedules

1. Property Details Schedule: Detailed technical description of the property, including floor plans and boundaries

2. Title Documents: Copies of title deed and other ownership documents

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

4. Property Condition Report: Detailed report on property condition with photographs

5. Inventory List: List of included furniture, fixtures, and equipment if applicable

6. Required Permits: Copies of relevant permits and certificates

7. Service Charge Statement: Current and projected service charges for the property

8. Powers of Attorney: Copies of any relevant powers of attorney

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

Relevant legal definitions
Relevant Industries

Real Estate

Residential Property

Commercial Property

Property Development

Banking & Finance

Legal Services

Property Management

Construction

Investment & Asset Management

Property Technology

Relevant Teams

Legal

Real Estate

Property Management

Compliance

Finance

Operations

Business Development

Risk Management

Contract Administration

Investment

Asset Management

Relevant Roles

Real Estate Agent

Property Manager

Legal Counsel

Conveyancing Lawyer

Property Developer

Real Estate Investment Manager

Compliance Officer

Real Estate Portfolio Manager

Property Valuation Specialist

Mortgage Advisor

Real Estate Transaction Manager

Business Development Manager

Real Estate Operations Director

Contract Administrator

Real Estate Finance Manager

Industries
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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