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Real Estate Contract Agreement

Real Estate Contract Agreement Template for United Arab Emirates

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Key Requirements PROMPT example:

Real Estate Contract Agreement

"I need a Real Estate Contract Agreement for the purchase of a 3-bedroom residential apartment in Dubai Marina, with completion scheduled for March 2025 and including provisions for mortgage financing from Emirates NBD."

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Document background
The Real Estate Contract Agreement is a fundamental legal instrument used in the United Arab Emirates for property transactions, designed to comply with both federal laws and specific emirate regulations. This document is essential for any property sale or purchase in the UAE, whether for residential, commercial, or mixed-use properties. It must adhere to strict requirements set by the UAE Civil Code and various real estate-specific regulations, including mandatory registration with the relevant Land Department. The agreement covers crucial elements such as property details, payment terms, warranties, and completion procedures, while incorporating specific UAE requirements like Emirates ID numbers for residents and additional provisions for foreign buyers. It's particularly important as it serves as the primary document for property registration and transfer of ownership in the UAE's property market.
Suggested Sections

1. Parties: Identification of all parties involved, including full legal names, Emirates ID numbers for UAE residents, passport numbers for non-residents, and registered addresses

2. Background: Context of the transaction, brief property description, and purpose of the agreement

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

4. Property Details: Comprehensive description of the property including location, size, type, and registration details as per UAE property registration requirements

5. Purchase Price and Payment Terms: Detailed breakdown of the purchase price, payment schedule, and method of payment in compliance with UAE regulations

6. Completion and Transfer of Ownership: Process and requirements for property transfer at the relevant Land Department

7. Seller's Warranties and Representations: Seller's confirmations regarding property ownership, absence of disputes, and compliance with UAE property laws

8. Buyer's Warranties and Representations: Buyer's confirmations regarding financial capacity and compliance with UAE property ownership laws

9. Handover: Terms and conditions for physical possession of the property

10. Default and Termination: Consequences of breach and termination rights under UAE law

11. Governing Law and Jurisdiction: Confirmation of UAE law application and relevant emirate's courts' jurisdiction

12. Notices: Communication protocols between parties

13. General Provisions: Standard contractual provisions including entire agreement, amendments, and severability

Optional Sections

1. Mortgage Provisions: Required if the purchase involves mortgage financing, including bank details and mortgage requirements

2. Property Management: Needed for properties in managed communities, detailing service charges and facilities management

3. Condition Precedents: Include when completion is subject to specific conditions such as regulatory approvals or NOCs

4. Off-Plan Provisions: Required for off-plan properties, including construction milestones and developer obligations

5. Tenancy Rights: Include if the property is sold with existing tenants, addressing their rights under UAE tenancy laws

6. Escrow Arrangements: Required for off-plan sales or when using escrow services for the transaction

7. Foreign Ownership Compliance: Include for non-UAE national buyers, addressing specific ownership restrictions and requirements

Suggested Schedules

1. Property Schedule: Detailed property specifications, including floor plans, unit number, and exact measurements

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

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

4. Property Condition Report: Detailed report on the current condition of the property and any defects

5. Inventory List: If property is sold furnished, detailed list of included items

6. Service Charge Schedule: Details of applicable service charges and management fees

7. Required Permits: Copies of all relevant permits, NOCs, and regulatory approvals

8. Building Rules and Regulations: For properties in managed communities, applicable rules and regulations

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
Relevant legal definitions









































Clauses








































Relevant Industries

Real Estate

Construction

Banking & Finance

Property Development

Legal Services

Property Management

Investment & Asset Management

Insurance

Facilities Management

Professional Services

Relevant Teams

Legal

Real Estate

Compliance

Risk Management

Property Management

Business Development

Operations

Finance

Contract Administration

Customer Relations

Investment

Asset Management

Relevant Roles

Real Estate Manager

Property Lawyer

Legal Counsel

Real Estate Agent

Property Developer

Compliance Officer

Real Estate Investment Manager

Property Valuation Specialist

Mortgage Officer

Contract Manager

Real Estate Transaction Coordinator

Business Development Manager

Chief Legal Officer

Real Estate Portfolio Manager

Risk Management Officer

Property Operations 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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