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Agreement For Sale Of Immovable Property
"I need an Agreement For Sale Of Immovable Property for a residential villa in Dubai Marina, with a completion date of March 15, 2025, where the buyer is an individual UAE resident and the property is being sold free of any tenancies or encumbrances."
1. Parties: Identification of seller and purchaser with full legal names, Emirates ID numbers, and contact details as required by UAE law
2. Background: Context of the transaction including brief property description and parties' intention to enter into sale agreement
3. Definitions: Key terms used throughout the agreement including Property, Completion Date, Purchase Price, and other relevant definitions
4. Sale and Purchase: Core agreement for sale and purchase of the property, including the seller's obligation to sell and buyer's obligation to purchase
5. Property Details: Comprehensive description of the property including location, size, registration details, and any included fixtures and fittings
6. Purchase Price: Detailed breakdown of the purchase price, payment schedule, and method of payment in compliance with UAE regulations
7. Completion: Process and requirements for completion of the sale, including documentation, registration, and handover procedures
8. Seller's Warranties: Warranties regarding property ownership, absence of encumbrances, and compliance with local laws
9. Buyer's Warranties: Warranties regarding capacity to purchase and compliance with payment obligations
10. Registration: Requirements and procedures for registering the property transfer with relevant authorities
11. Costs and Taxes: Allocation of transaction costs, registration fees, and applicable taxes between parties
12. Governing Law and Jurisdiction: Specification of UAE law as governing law and jurisdiction of UAE courts
1. Condition of Property: Detailed description of property condition and any agreed repairs - used when property is being sold in 'as is' condition or requires specific work
2. Mortgage and Finance: Terms relating to mortgage arrangements - included when buyer is obtaining mortgage financing
3. Off-Plan Provisions: Specific provisions for off-plan properties including completion timelines and developer obligations - used for off-plan sales
4. Service Charge: Details of service charge obligations and handover of responsibility - used for properties in managed developments
5. Defect Liability: Provisions for dealing with defects discovered after completion - particularly important for new properties
6. Foreign Ownership: Additional provisions required for foreign buyers - used when purchaser is not a UAE national
7. Tenancy Provisions: Provisions dealing with existing tenancies - used when property is sold with sitting tenants
8. Property Management: Arrangements for property management during transition period - used for commercial properties or managed residential units
1. Property Schedule: Detailed legal description of the property including title deed details, plot number, and area plan
2. Payment Schedule: Detailed breakdown of payment installments and due dates
3. Inventory: List of fixtures, fittings, and other items included in the sale
4. Property Documents: List of all documents relating to the property to be handed over on completion
5. Outstanding Matters: List of any matters to be resolved before or after completion
6. Completion Requirements: Checklist of documents and actions required for completion
7. Form of Transfer: Template transfer documents required by the relevant land department
Authors
Real Estate
Residential Property
Commercial Property
Property Development
Banking and Finance
Construction
Property Investment
Property Management
Legal Services
Real Estate Investment Trusts (REITs)
Legal
Real Estate
Property Management
Sales
Compliance
Corporate Services
Contract Management
Investment
Operations
Business Development
Risk Management
Finance
Real Estate Manager
Property Developer
Legal Counsel
Compliance Officer
Real Estate Agent
Property Sales Manager
Contract Manager
Real Estate Investment Manager
Property Lawyer
Transaction Manager
Corporate Counsel
Chief Legal Officer
Real Estate Director
Development Manager
Sales Director
Property Portfolio Manager
Legal Operations Manager
Real Estate Finance Manager
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