The Real Estate Buyers Contract is a fundamental legal document used in the United Arab Emirates for property purchase transactions. This contract type is essential for documenting the sale and purchase of real estate properties, whether residential, commercial, or mixed-use, in compliance with UAE federal laws and local emirate regulations. It includes mandatory provisions required by the UAE Civil Code and specific requirements from regulatory bodies such as the Dubai Land Department (for Dubai properties). The document covers crucial elements including property details, payment terms, registration requirements, and completion procedures, while ensuring adherence to local property ownership laws and foreign ownership restrictions where applicable. This contract is typically required for property registration and transfer of ownership in the UAE's real estate market.
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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, brief description of the property, and purpose of the agreement
3. Definitions: Definitions of key terms used throughout the agreement, including technical and legal terms specific to UAE real estate
4. Property Details: Comprehensive description of the property including location, size, registration details, and RERA property identification number
5. Purchase Price: Total purchase price, payment schedule, and method of payment in compliance with UAE regulations
6. Payment Terms: Detailed breakdown of payment installments, due dates, and acceptable payment methods
7. Registration and Transfer: Process and requirements for property registration with the Dubai Land Department or relevant authority
8. Seller's Obligations: Responsibilities of the seller including property transfer, documentation, and warranties
9. Buyer's Obligations: Responsibilities of the buyer including payments, due diligence, and compliance with regulations
10. Completion and Handover: Conditions for completion, handover process, and transfer of possession
11. Default and Remedies: Consequences of default by either party and available remedies under UAE law
12. Governing Law and Jurisdiction: Specification of UAE law as governing law and jurisdiction of UAE courts
1. Mortgage Arrangements: Include when buyer is obtaining mortgage financing, detailing bank requirements and conditions
2. Property Management: Include for properties within managed communities, detailing service charges and management obligations
3. Defect Liability: Include for new properties, specifying warranty period and defect remedy process
4. Tenant Rights: Include if property is currently tenanted, addressing existing lease agreements
5. Furniture and Fixtures: Include if sale includes furniture or specific fixtures, with detailed inventory
6. Developer Obligations: Include for off-plan properties, detailing developer's commitments and completion timeline
7. Force Majeure: Include specific force majeure provisions relevant to UAE real estate market
8. Escrow Arrangements: Include when using escrow services for payment protection
1. Schedule 1 - Property Details: Detailed technical description, floor plans, and area calculations
2. Schedule 2 - Payment Schedule: Detailed breakdown of payment installments and due dates
3. Schedule 3 - Property Title Documents: Copies of title deed and other ownership documents
4. Schedule 4 - Property Condition Report: Current condition assessment and photographs
5. Schedule 5 - Service Charge Schedule: Details of applicable service charges and management fees
6. Appendix A - Required Documents: List of documents required for transfer from both parties
7. Appendix B - Handover Protocol: Detailed procedure for property inspection and handover
8. Appendix C - Developer Specifications: For new properties, detailed specifications and finishing schedule
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Construction
Legal Services
Banking & Finance
Property Development
Property Management
Construction & Development
Professional Services
Investment & Asset Management
Relevant Teams
Legal
Real Estate Operations
Sales
Compliance
Property Management
Transaction Management
Documentation
Due Diligence
Investment
Client Relations
Relevant Roles
Real Estate Agent
Property Lawyer
Legal Counsel
Contract Manager
Property Manager
Real Estate Development Manager
Compliance Officer
Real Estate Investment Manager
Sales Director
Property Consultant
Transaction Manager
Real Estate Operations Manager
Due Diligence Officer
Documentation Specialist
Real Estate Portfolio Manager
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