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Agreement Between Buyer And Seller Of Property

Agreement Between Buyer And Seller Of Property Template for United Arab Emirates

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Key Requirements PROMPT example:

Agreement Between Buyer And Seller Of Property

"I need an Agreement Between Buyer And Seller Of Property for a luxury villa in Dubai Marina, where the buyer is a foreign corporation and completion is scheduled for March 2025, with specific provisions for furniture inclusion and staged payments."

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Document background
The Agreement Between Buyer And Seller Of Property is a crucial legal document used in the United Arab Emirates for documenting property transactions. It is essential for any real estate transfer in the UAE, whether residential, commercial, or industrial property. The agreement must comply with UAE federal laws, including Federal Law No. 5 of 1985 (Civil Code) and specific emirate-level property regulations. This document is required for property registration with the relevant land department and serves as evidence of the transaction terms, including purchase price, payment schedule, and completion requirements. It includes mandatory provisions for property transfer in the UAE, such as seller warranties, registration procedures, and where applicable, provisions for foreign ownership or mortgage financing. The agreement's format and content are influenced by both civil law traditions and Sharia principles, reflecting the UAE's unique legal framework.
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 transaction and brief description of the property being sold

3. Definitions: Definitions of key terms used throughout the agreement, including UAE-specific legal and property terms

4. Property Details: Comprehensive description of the property including plot number, municipality number, and registration details as per UAE land department requirements

5. Purchase Price: Agreed purchase price, payment schedule, and method of payment in compliance with UAE banking regulations

6. Payment Terms: Detailed payment structure, installment schedule if applicable, and escrow arrangements as per UAE laws

7. Completion: Process and requirements for completion of the sale, including registration requirements with relevant authorities

8. Seller's Obligations: Seller's commitments including property handover, documentation, and compliance with local regulations

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

10. Warranties: Seller's warranties regarding property ownership, condition, and absence of disputes or encumbrances

11. Registration: Procedures for property registration with the relevant land department and required documentation

12. Governing Law: Specification of UAE law as governing law and relevant emirate's jurisdiction

13. Execution: Signature requirements and execution formalities as per UAE law

Optional Sections

1. Condition Precedents: Specific conditions that must be met before completion, used when there are pending approvals or requirements

2. Property Inspection: Detailed inspection provisions, used when property condition is a significant concern

3. Mortgage Details: Required when the property is being purchased with mortgage financing

4. Foreign Ownership: Special provisions required when the buyer is a non-UAE national

5. Tenant Rights: Required when the property is sold with existing tenants

6. Service Charges: Needed for properties in managed communities with service charge obligations

7. Fixtures and Fittings: Detailed list of included/excluded items, used for furnished properties

8. Development Obligations: Required for off-plan properties or properties under construction

9. Power of Attorney: When either party is acting through an authorized representative

10. Sharia Compliance: Additional provisions ensuring compliance with Islamic law, if specifically required

Suggested Schedules

1. Property Title Deed: Copy of the original title deed and translation if required

2. Property Plans: Official floor plans and location maps from municipality

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

4. Property Inventory: List of fixtures, fittings, and contents included in the sale

5. Due Diligence Documents: Copies of permits, certificates, and compliance documents

6. Service Charge Statement: Current and historical service charge statements

7. NOCs: Required No Objection Certificates from relevant authorities

8. Property Photographs: Documented condition of property at time of agreement

9. Maintenance Records: History of maintenance and repairs

10. Land Department Forms: Standard forms required by the relevant land department

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 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

Construction

Banking & Finance

Legal Services

Property Development

Investment & Asset Management

Hospitality

Retail

Commercial Property

Residential Property

Industrial Property

Relevant Teams

Legal

Real Estate

Compliance

Property Management

Sales

Business Development

Operations

Risk Management

Finance

Corporate Services

Investment

Asset Management

Relevant Roles

Real Estate Manager

Property Lawyer

Legal Counsel

Real Estate Agent

Property Developer

Investment Manager

Asset Manager

Property Valuer

Compliance Officer

Contract Manager

Real Estate Director

Chief Legal Officer

Property Portfolio Manager

Real Estate Consultant

Transaction Manager

Real Estate Partner

Property Operations Manager

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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