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Absolute Agreement Of Sale for United Arab Emirates

Absolute Agreement Of Sale Template for United Arab Emirates

The Absolute Agreement of Sale is a legally binding document governed by UAE law that facilitates the unconditional transfer of ownership of property or assets from a seller to a buyer. This agreement, compliant with UAE Civil Code (Federal Law No. 5 of 1985) and relevant emirate-specific regulations, documents the complete terms of sale, including purchase price, payment terms, and transfer procedures. It differs from conditional sale agreements by being immediately effective without contingencies. The document includes specific provisions required under UAE law for valid property or asset transfer, including requirements for registration with relevant authorities where applicable.

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Absolute Agreement Of Sale

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What is a Absolute Agreement Of Sale?

The Absolute Agreement of Sale serves as a comprehensive document for unconditional sale transactions in the UAE, used when parties wish to execute an immediate and definitive transfer of ownership. This agreement type, governed by UAE law and particularly the UAE Civil Code, is distinct from conditional sales as it contains no prerequisites or conditions precedent to the sale's effectiveness. The document is commonly used in various contexts, from real estate transactions to asset sales, and must comply with specific UAE legal requirements, including proper party identification, clear asset description, and specific execution formalities. The agreement's absolute nature makes it particularly suitable for straightforward transactions where both parties are ready to complete the sale immediately. When drafting an Absolute Agreement of Sale, careful attention must be paid to UAE-specific requirements regarding form, content, and registration procedures, especially in cases involving real property or regulated assets.

What sections should be included in a Absolute Agreement Of Sale?

1. Parties: Identification of seller and buyer with full legal names, addresses, and registration details as per UAE requirements

2. Background: Context of the sale and brief description of the asset/property being sold

3. Definitions: Key terms used throughout the agreement, including specific UAE legal terminology

4. Sale and Purchase: Core provision stating the absolute and unconditional sale of the asset/property

5. Purchase Price: Detailed breakdown of the purchase price and payment terms

6. Completion: Process and requirements for completing the sale, including transfer of title

7. Seller's Warranties: Standard warranties regarding ownership, authority to sell, and condition of the asset

8. Buyer's Warranties: Warranties regarding authority to purchase and ability to complete payment

9. Transfer of Risk: Specific point at which risk passes from seller to buyer

10. Notices: Process for formal communications between parties

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

12. Language: Specification of controlling language version as per UAE requirements

13. Execution: Signature blocks and execution requirements

What sections are optional to include in a Absolute Agreement Of Sale?

1. Property Registration: Required for real estate transactions, detailing registration requirements with relevant authorities

2. Conditions of Asset: Detailed for sales of specific assets requiring condition specifications

3. Tax Provisions: Required when VAT or other tax implications apply to the sale

4. Intellectual Property: Needed when the sale includes IP rights or licenses

5. Handover Procedures: For physical assets requiring specific handover protocols

6. Post-Completion Obligations: When ongoing obligations exist after sale completion

7. Anti-Money Laundering: Required for high-value transactions or when regulatory compliance demands

8. Force Majeure: Optional protection against unforeseen events affecting completion

What schedules should be included in a Absolute Agreement Of Sale?

1. Asset Description: Detailed technical description of the asset/property being sold

2. Purchase Price Breakdown: Itemized breakdown of the purchase price components

3. Form of Transfer Documents: Templates of required transfer documentation

4. Due Diligence Results: Summary of any due diligence findings and reports

5. Required Consents: List of third-party or regulatory consents required

6. Encumbrances: Details of any existing encumbrances on the asset

7. Completion Checklist: List of documents and actions required for completion

8. Property Title Documents: Copies of relevant title documents and certificates

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok成人版 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Document Type

Sales Agreement

Sector

Sales

Cost

Free to use
Relevant legal definitions













































Clauses





































Relevant Industries

Real Estate

Manufacturing

Retail

Automotive

Industrial

Technology

Energy

Construction

Healthcare

Hospitality

Professional Services

Trading

Logistics

Maritime

Relevant Teams

Legal

Commercial

Finance

Operations

Real Estate

Asset Management

Sales

Procurement

Risk & Compliance

Corporate Secretariat

Business Development

Property Management

Relevant Roles

Legal Counsel

Commercial Director

Chief Executive Officer

Chief Financial Officer

Property Manager

Asset Manager

Contract Manager

Business Development Manager

Real Estate Manager

Operations Director

Procurement Manager

Sales Director

Corporate Secretary

Risk Manager

Compliance Officer

Transaction 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, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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