Real Estate Sale Contract By Owner

Real Estate Sale Contract By Owner Template for United Arab Emirates

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Key Requirements PROMPT example:

I need a Real Estate Sale Contract By Owner for my 2-bedroom apartment in Dubai Marina, with completion date set for March 15, 2025, including provisions for existing tenant rights as the property is currently leased until January 2025.

Document background

The Real Estate Sale Contract By Owner is a crucial document in UAE property transactions where owners choose to sell their property directly to buyers without real estate agency involvement. This contract type is specifically designed to comply with UAE Federal Law No. 5 of 1985 (Civil Code) and various emirate-specific property laws, ensuring legal protection for both parties while facilitating direct property transfers. It contains mandatory provisions required by UAE law, including detailed property descriptions, payment terms, warranties, and transfer procedures. The document is particularly relevant in the UAE's dynamic real estate market, where direct sales are becoming increasingly common, and must incorporate specific requirements from local land departments and registration authorities.

Suggested Sections

1. Parties: Identification of seller and buyer with full legal names, Emirates ID numbers, and contact details as required by UAE law

2. Background: Context of the sale, including brief property history and current ownership status

3. Definitions: Key terms used throughout the agreement, including technical and legal terminology

4. Property Details: Comprehensive description of the property including title deed number, location, size, and registration details as per UAE property registers

5. Purchase Price: Agreed purchase price, payment terms, deposit requirements, and payment schedule

6. Payment Method: Specified payment methods acceptable under UAE banking regulations

7. Completion Date: Timeline for transaction completion and property handover

8. Seller's Warranties: Seller's representations regarding property ownership, absence of disputes, and compliance with UAE property laws

9. Buyer's Obligations: Buyer's commitments including payment, registration requirements, and due diligence

10. Property Transfer: Process and requirements for legal transfer of property ownership through relevant UAE authorities

11. Costs and Fees: Allocation of transaction costs, registration fees, and other expenses

12. Default and Termination: Consequences of breach and contract termination procedures

13. Governing Law: Specification of UAE law as governing law and relevant jurisdiction

14. Notices: Communication procedures between parties

15. Execution: Signature requirements and execution formalities

Optional Sections

1. Condition of Property: Detailed description of property condition, to be included if property is not in new condition or has specific features/defects

2. Furniture and Fixtures: List of items included/excluded in sale, used when property is sold furnished or with specific inclusions/exclusions

3. Mortgage Details: Required if property has existing mortgage or if buyer is obtaining mortgage financing

4. Property Management: Include if property is part of managed community with specific fees or obligations

5. Tenant Rights: Required if property is currently tenanted or has existing lease agreements

6. Development Obligations: Include for properties in master communities with ongoing development obligations

7. Service Charges: Details of outstanding and future service charges, relevant for apartments or managed communities

8. Escrow Arrangements: Include when using escrow services for payment security

Suggested Schedules

1. Property Title Deed: Copy of current title deed and property ownership documents

2. Property Floor Plan: Detailed floor plan and property layout

3. Payment Schedule: Detailed breakdown of payment installments and dates

4. Property Photographs: Current photographs documenting property condition

5. Inventory List: If furnished property, detailed inventory of included items

6. NOC Documentation: Any required No Objection Certificates from relevant authorities

7. Service Charge Statement: Current statement of service charges and payment status

8. Building Regulations: Relevant building and community regulations affecting the property

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok��˰� | 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

Property Development

Construction

Banking & Finance

Legal Services

Property Management

Investment & Asset Management

Urban Development

Residential Property

Commercial Property

Relevant Teams

Legal

Real Estate

Compliance

Property Management

Asset Management

Finance

Operations

Risk Management

Corporate Services

Investment

Relevant Roles

Property Owner

Real Estate Investor

Legal Counsel

Property Manager

Compliance Officer

Real Estate Director

Investment Manager

Asset Manager

Property Developer

Finance Manager

Contract Administrator

Legal Director

Company Owner

Private Investor

Business Owner

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