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Deed Of Sale With Waiver Of Rights

Deed Of Sale With Waiver Of Rights Template for United Arab Emirates

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Key Requirements PROMPT example:

Deed Of Sale With Waiver Of Rights

"I need a UAE Deed of Sale with Waiver of Rights for a commercial warehouse in Dubai Industrial City, where three minority shareholders will waive their pre-emptive rights, with completion planned for March 2025."

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Document background
The Deed of Sale with Waiver of Rights is a specialized legal instrument used in the United Arab Emirates when a property transfer needs to be combined with the formal relinquishment of specific rights by one or more parties. This document type is particularly relevant in situations involving complex property transactions where certain stakeholders need to formally surrender their claims or interests in the property. The deed must comply with UAE federal laws, including the Civil Code and relevant emirate-specific property regulations, and requires official notarization. It's commonly used in family property settlements, corporate restructuring, or situations involving multiple stakeholders where clean title transfer is essential. The document comprehensively covers both the sale terms and the specific rights being waived, ensuring legal certainty for all parties involved.
Suggested Sections

1. Parties: Identification of the Seller and Buyer with full legal names, addresses, and any registration numbers if corporate entities

2. Background: Context of the sale, brief description of the property, and mention of the rights to be waived

3. Definitions: Key terms used throughout the deed including Property, Completion Date, Purchase Price, Waived Rights

4. Sale and Purchase: Core terms of the sale including the agreement to sell and purchase the property

5. Property Details: Comprehensive description of the property including location, dimensions, and registration details

6. Purchase Price: Amount, payment terms, and method of payment

7. Waiver of Rights: Detailed specification of rights being waived by the seller or other relevant parties

8. Seller's Warranties: Warranties regarding ownership, right to sell, and property condition

9. Completion: Process and requirements for completing the sale and transfer

10. Registration: Requirements and process for registering the transfer with relevant authorities

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

12. Execution: Formal execution block including witness requirements

Optional Sections

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

2. Third Party Rights: Section addressing any third-party rights or claims - used when relevant third parties need to waive rights

3. Existing Tenancies: Details of any existing tenancies - used when property is sold with sitting tenants

4. Environmental Matters: Environmental conditions or liabilities - used for industrial or commercial properties

5. Service Contracts: Details of ongoing service contracts - used when such contracts will transfer with the property

6. Tax Matters: Special tax considerations - used when there are specific tax implications

7. Post-Completion Obligations: Ongoing obligations after completion - used when parties have continuing responsibilities

Suggested Schedules

1. Property Schedule: Detailed legal description of the property including plans and title details

2. Rights Schedule: Comprehensive list and description of rights being waived

3. Payment Schedule: Detailed breakdown of payment terms and installments if applicable

4. Inventory: List of fixtures, fittings, and contents included in the sale

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

6. Property Documents: List of title documents and other relevant property documentation

7. Form of Transfer: Template transfer document required by local land registry

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
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Relevant Industries

Real Estate

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Legal Counsel

Real Estate Manager

Property Director

Compliance Officer

Real Estate Development Manager

Asset Manager

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