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Affidavit Of Repossession for United Arab Emirates

Affidavit Of Repossession Template for United Arab Emirates

An Affidavit of Repossession is a legally binding sworn statement used in the United Arab Emirates to formally document the lawful repossession of property, typically vehicles or equipment, following a default on a financing agreement. The document must comply with UAE Federal Laws, including the Civil Code and Commercial Transactions Law, and requires proper notarization according to UAE legal requirements. It serves as an official record of the repossession process, detailing the circumstances, condition of the property, and confirming compliance with local laws and regulations.

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What is a Affidavit Of Repossession?

The Affidavit of Repossession is a critical document in the UAE's asset recovery process, used when a lender or authorized agent needs to formally document the legal repossession of financed property after a default. This sworn statement, governed by UAE Federal Laws including Law No. 5 of 1985 (Civil Code) and Law No. 18 of 1993 (Commercial Transactions Law), must be properly notarized and may be required for court proceedings or regulatory compliance. The document includes detailed information about the repossessed property, circumstances of repossession, parties involved, and confirmation of legal authority to repossess. It serves as protection for the repossessing party and provides an official record of the transaction, particularly important in the UAE's civil law system where documentary evidence is highly valued.

What sections should be included in a Affidavit Of Repossession?

1. Declaration Header: Formal opening stating this is an affidavit, including the date and jurisdiction (UAE)

2. Declarant Information: Full legal name, address, and capacity/authority of the person making the affidavit

3. Property Details: Comprehensive description of the repossessed property including all relevant identification numbers (e.g., VIN for vehicles)

4. Loan/Security Information: Details of the underlying loan or security agreement that gives right to repossession

5. Default Statement: Statement describing the default that led to repossession

6. Repossession Details: Date, time, location, and manner of repossession, including confirmation of peaceful repossession

7. Property Condition: Description of the property's condition at the time of repossession

8. Legal Authority: Statement confirming legal right to repossess under UAE law

9. Verification Statement: Formal declaration of truth and accuracy under penalty of perjury

10. Execution Block: Space for signature, notarization, and official stamps

What sections are optional to include in a Affidavit Of Repossession?

1. Prior Notices: Section detailing any notices or demands sent to the debtor prior to repossession - include when there's a notification history

2. Witness Statement: Statements from witnesses to the repossession - include when witnesses were present

3. Police Report Reference: Reference to police reports if law enforcement was involved - include when police were present

4. Personal Property Inventory: List of personal items found in/with the repossessed property - include when personal items were present

5. Third Party Claims: Documentation of any third-party claims or interests in the property - include when applicable

6. Arabic Translation: Parallel Arabic text of the affidavit - include when the document needs to be submitted to UAE government authorities

What schedules should be included in a Affidavit Of Repossession?

1. Appendix A - Property Documentation: Copies of relevant property documentation (registration papers, title documents, etc.)

2. Appendix B - Loan Documentation: Copies of loan agreement, security agreement, or other relevant financial documents

3. Appendix C - Default Notices: Copies of all notices sent to the debtor regarding the default

4. Appendix D - Photographs: Photographs of the property at the time of repossession

5. Appendix E - Inventory List: Detailed inventory of any personal property found within/with the repossessed item

6. Appendix F - Authorization Documents: Copies of documents showing authority to repossess (power of attorney, company authorization, etc.)

Authors

Alex Denne

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

Publisher

Genie AI

Document Type

Affidavit

Cost

Free to use
Relevant legal definitions

























Clauses

















Relevant Industries

Banking & Financial Services

Automotive Finance

Equipment Leasing

Asset Management

Legal Services

Insurance

Asset Recovery

Security Services

Transportation

Construction Equipment

Relevant Teams

Legal

Collections

Risk Management

Compliance

Operations

Credit Administration

Asset Recovery

Documentation

Security

Finance

Relevant Roles

Collections Manager

Recovery Agent

Legal Counsel

Compliance Officer

Risk Manager

Asset Recovery Specialist

Credit Manager

Finance Manager

Operations Manager

Documentation Specialist

Loan Officer

Fleet Manager

Security Manager

Repossession Coordinator

Legal Document Controller

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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