The Contract For Buying A House From Owner is a crucial legal document used in the United Arab Emirates for direct property transactions between private sellers and buyers. This agreement is essential when purchasing residential property directly from the current owner, bypassing property developers or real estate companies as primary sellers. The document must comply with UAE federal laws, including the UAE Civil Code and Property Law, as well as specific emirate-level regulations and RERA requirements. It typically includes detailed property specifications, price and payment terms, conditions for sale, warranties, and completion requirements. The contract ensures proper transfer of ownership while protecting both parties' interests under UAE law. It's particularly relevant for secondary market transactions and must be structured to facilitate proper registration with relevant authorities.
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1. Parties: Identification and details of the seller and buyer, including Emirates ID numbers and contact information
2. Background: Context of the sale and brief description of the property
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Details: Comprehensive description of the property including address, plot number, size, and registration details
5. Purchase Price: Agreed purchase price and payment terms including deposit and completion payment details
6. Payment Schedule: Breakdown of payment installments and timing
7. Completion: Requirements and process for completing the sale, including registration requirements
8. Seller's Warranties: Warranties regarding property ownership, absence of disputes, and condition of the property
9. Property Condition: Current condition of the property and any agreed repairs or modifications
10. Transfer of Ownership: Process and requirements for transferring property ownership
11. Registration: Requirements for registering the sale with relevant authorities
12. Costs and Fees: Allocation of transaction costs, registration fees, and other expenses
13. Default and Remedies: Consequences of default by either party and available remedies
14. Governing Law: Confirmation of UAE law application and jurisdiction
15. Notices: Process for formal communications between parties
16. General Provisions: Standard contract clauses including entire agreement, amendments, and severability
1. Mortgage Arrangements: Details of any mortgage financing, used when buyer is obtaining mortgage funding
2. Tenant Rights: Information about existing tenants and lease agreements, included if property is currently tenanted
3. Service Charges: Details of outstanding or prepaid service charges, relevant for properties in managed communities
4. Furniture and Fixtures: List of included/excluded items, used when sale includes furnishings
5. Property Management: Arrangements for property management handover, relevant for properties in managed buildings
6. Power of Attorney: Details of any power of attorney arrangements, included if parties are acting through representatives
7. Escrow Arrangements: Details of escrow account usage, included for larger transactions or when required by authorities
1. Property Title Deed: Copy of current title deed and property ownership documents
2. Property Plans: Floor plans, plot plans, and any relevant architectural drawings
3. Inventory List: Detailed list of included furnishings and fixtures if applicable
4. Payment Schedule Details: Detailed breakdown of payment installments and due dates
5. Property Condition Report: Detailed report on property condition with photographs
6. Service Charge Statement: Statement of current and outstanding service charges
7. DEWA Clearance: Utility clearance certificates and final readings
8. Due Diligence Documents: Copies of relevant permits, certificates, and compliance documents
Authors
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Legal Services
Banking and Finance
Property Development
Construction
Insurance
Property Management
Professional Services
Public Sector
Facilities Management
Relevant Teams
Legal
Real Estate
Compliance
Property Management
Operations
Transaction Processing
Due Diligence
Contract Administration
Risk Management
Corporate Services
Relevant Roles
Real Estate Lawyer
Property Consultant
Legal Counsel
Conveyancing Manager
Real Estate Agent
Property Manager
Compliance Officer
Legal Director
Transaction Manager
Property Valuation Specialist
Real Estate Partner
Title Officer
Contract Manager
Real Estate Operations Manager
Due Diligence Specialist
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