The Property Sale Agreement Template is a vital legal instrument designed for use in the United Arab Emirates real estate market. It serves as a standardized framework for documenting property transactions while ensuring compliance with UAE federal laws and emirate-specific regulations. This template is particularly relevant for both residential and commercial property transfers, incorporating RERA requirements, UAE Civil Code provisions, and specific emirate property laws. The document is structured to accommodate various transaction types, from straightforward cash purchases to mortgaged acquisitions, and includes provisions for both local and foreign buyers. It's essential for ensuring legal certainty in property transactions and protecting the interests of all parties involved, while maintaining alignment with UAE's property registration requirements and transfer procedures.
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1. Parties: Identification of the Seller and Buyer with full legal names, addresses, and Emirates ID/passport numbers
2. Background: Context of the sale, brief property description, and statement of intention to sell/purchase
3. Definitions: Definitions of key terms used throughout the agreement
4. Sale and Purchase: Core agreement to sell and purchase the property, including the basic terms
5. Purchase Price: Detailed breakdown of the purchase price and payment terms
6. Payment Terms: Schedule of payments, deposit requirements, and payment methods
7. Completion: Requirements and process for completing the sale, including registration
8. Seller's Representations and Warranties: Seller's confirmations regarding property ownership, condition, and encumbrances
9. Buyer's Representations and Warranties: Buyer's confirmations regarding capacity to purchase and fund the transaction
10. Property Registration: Process and requirements for transferring property registration
11. Costs and Fees: Allocation of transaction costs, registration fees, and agent commissions
12. Default and Termination: Consequences of default and circumstances for termination
13. Notices: Process for formal communications between parties
14. Governing Law and Jurisdiction: Confirmation of UAE law application and jurisdiction
15. Execution: Signature blocks and execution requirements
1. Mortgage Arrangements: Required when buyer is obtaining mortgage financing, including conditions and requirements
2. Foreign Ownership: Required for non-UAE national buyers, including specific requirements and approvals
3. Property Management Handover: Required for properties in managed communities, detailing transition of services
4. Condition Precedents: Optional conditions that must be met before completion
5. Broker Arrangements: Required when real estate brokers are involved in the transaction
6. Vacant Possession: Required when property is currently occupied, detailing vacation requirements
7. Service Charge Arrangements: Required for properties in communities with service charges, detailing handover of obligations
8. Defect Liability: Optional section for new properties, detailing warranty periods and responsibilities
1. Property Description: Detailed description of the property including title details, size, location, and included fixtures
2. Payment Schedule: Detailed breakdown of payment installments and due dates
3. Property Documents: List of all property-related documents to be transferred
4. Due Diligence Results: Summary of property searches and due diligence findings
5. Handover Inventory: List of items included in the sale and their condition
6. Required Approvals: List of necessary governmental and regulatory approvals
7. Outstanding Charges: Details of any outstanding charges, fees, or service charges
8. Property Plans: Floor plans, location maps, and other relevant property plans
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