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Residential Resale Contract

Residential Resale Contract Template for United Arab Emirates

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Key Requirements PROMPT example:

Residential Resale Contract

"I need a Residential Resale Contract for a 2-bedroom apartment in Dubai Marina, where the buyer is a foreign investor requiring mortgage financing, with completion planned for March 2025."

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Document background
The Residential Resale Contract is a fundamental legal document used in the United Arab Emirates for secondary market property transactions. This contract type is specifically designed to facilitate the transfer of residential property ownership from existing owners to new buyers, ensuring compliance with UAE property laws and regulations. It incorporates mandatory requirements from the UAE Civil Code, RERA guidelines, and local land department procedures. The document is essential for both UAE nationals and eligible foreign buyers, including comprehensive provisions for property transfer, payment mechanisms, and completion requirements. It addresses key aspects such as title transfer, payment terms, property condition, and handover procedures, while ensuring adherence to local real estate transaction requirements and consumer protection measures.
Suggested Sections

1. Parties: Identification of the 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 specific to UAE property law

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

5. Purchase Price: Agreed purchase price, payment structure, and deposit requirements in compliance with UAE regulations

6. Payment Terms: Detailed payment schedule, method of payment, and escrow arrangements as required by UAE law

7. Completion Requirements: Conditions for completion, including documentation and registration requirements with the relevant land department

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

9. Buyer's Warranties: Warranties regarding ability to purchase and comply with UAE property ownership requirements

10. Handover Provisions: Terms for physical handover of the property, including condition requirements and timing

11. Registration and Transfer: Process for property registration and transfer at the relevant land department

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

13. Default and Termination: Consequences of default and termination rights under UAE law

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

Optional Sections

1. Condition Precedents: Used when completion is subject to specific conditions such as mortgage approval or NOC obtaining

2. Mortgage Requirements: Include when the purchase involves mortgage financing, detailing lender requirements

3. Property Management Handover: Required when the property is part of a managed community with specific handover procedures

4. Tenant Provisions: Include when the property is sold with existing tenants, addressing lease continuation

5. Furniture and Fixtures: Used when the sale includes specific furniture or fixtures

6. Defect Liability: Include for newer properties still under developer warranty

7. Service Charge Provisions: Required for properties in communities with service charges, addressing payment responsibilities

8. Foreign Ownership Provisions: Include when either party is a non-UAE national, addressing specific requirements

Suggested Schedules

1. Property Schedule: Detailed property specifications, including floor plans and area calculations

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

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

4. Included Items: Inventory of fixtures, fittings, and any furniture included in the sale

5. Property Condition Report: Detailed assessment of property condition at time of contract

6. Required Documents: List of documents required from each party for completion

7. Service Charge Statement: Current status of service charges and pending payments

8. Land Department Requirements: Checklist of requirements for property transfer at the land department

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
















































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Relevant Industries

Real Estate

Property Development

Banking and Finance

Legal Services

Property Management

Construction

Insurance

Property Investment

Residential Services

Relevant Teams

Legal

Real Estate

Sales

Compliance

Risk Management

Property Management

Documentation

Client Relations

Investment

Operations

Relevant Roles

Real Estate Agent

Property Lawyer

Legal Counsel

Property Manager

Real Estate Director

Compliance Officer

Transaction Manager

Property Consultant

Sales Manager

Contract Administrator

Property Valuation Specialist

Mortgage Advisor

Real Estate Investment Manager

Documentation Specialist

Risk Management Officer

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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