The Real Estate Contract For Sale By Owner is a crucial legal document used in the United Arab Emirates when property owners wish to sell their real estate directly to buyers without engaging a real estate broker. This document type is particularly relevant in the UAE market where property transactions must comply with both federal laws and emirate-specific regulations, including requirements from the respective Land Departments. The contract encompasses all essential elements required by UAE law, including property details, payment terms, warranties, and transfer procedures. It is designed to protect both parties' interests while ensuring compliance with local regulations and Sharia principles. The document is commonly used for residential and commercial property sales, requiring proper notarization and registration with relevant authorities to be legally enforceable in the UAE.
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1. Parties: Identification of the Seller and Buyer with full legal names, Emirates ID numbers, and contact details
2. Background: Brief context of the sale and confirmation of the Seller's legal ownership and right to sell
3. Definitions: Key terms used throughout the agreement including Property, Completion Date, Purchase Price, and other relevant terms
4. Property Details: Comprehensive description of the property including title deed number, plot number, property size, location, and registered details with the Land Department
5. Purchase Price: Agreed purchase price, payment schedule, and method of payment
6. Payment Terms: Detailed breakdown of payment installments, deposit requirements, and final payment arrangements
7. Completion and Transfer: Process and timeline for property transfer, registration requirements, and completion procedures
8. Seller's Warranties: Warranties regarding property ownership, absence of encumbrances, and compliance with regulations
9. Buyer's Obligations: Responsibilities of the buyer including payment, due diligence, and registration requirements
10. Property Handover: Conditions and process for physical handover of the property
11. Default and Termination: Consequences of default by either party and termination provisions
12. Governing Law and Jurisdiction: Confirmation of UAE law application and jurisdiction of UAE courts
13. Execution: Signature blocks and attestation requirements
1. Condition of Property: Detailed description of property condition and any known defects - used when selling property as-is or with specific condition issues
2. Mortgage Requirements: Include when buyer is obtaining mortgage financing, detailing conditions and requirements
3. Agent Involvement: Required when real estate agents are involved, detailing their role and commission arrangements
4. Furniture and Fixtures: Used when the sale includes specific furniture or fixtures, listing all items included/excluded
5. Post-Completion Obligations: Include when there are specific requirements after completion, such as maintenance contracts or service charges
6. Dispute Resolution: Optional alternative dispute resolution procedures before court proceedings
7. Force Majeure: Include when parties want specific provisions for unforeseen circumstances
8. Language: Required when contract is bilingual, specifying which version prevails
1. Property Details Schedule: Detailed technical description of property including floor plans and specifications
2. Payment Schedule: Detailed breakdown of payment installments with dates and amounts
3. Title Documents: Copies of title deed and other ownership documents
4. Property Inspection Report: If applicable, detailed condition report from property inspection
5. Inventory List: If applicable, detailed list of furniture and fixtures included in sale
6. Service Charge Statement: Current and projected service charges for the property
7. NOC Documents: Necessary No Objection Certificates from relevant authorities
8. Property Photos: Visual documentation of property condition at time of contract
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Property Development
Construction
Banking & Finance
Legal Services
Property Management
Investment & Asset Management
Hospitality
Retail
Residential Property
Relevant Teams
Legal
Real Estate Operations
Compliance
Finance
Risk Management
Property Management
Asset Management
Documentation
Facilities Management
Investment
Relevant Roles
Property Owner
Real Estate Investor
Legal Counsel
Property Manager
Compliance Officer
Finance Director
Investment Manager
Asset Manager
Real Estate Development Manager
Property Valuation Specialist
Facilities Manager
Contract Administrator
Real Estate Operations Manager
Risk Manager
Documentation Specialist
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