Conditional Deed Of Sale Of Real Property

Conditional Deed Of Sale Of Real Property Template for United Arab Emirates

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Key Requirements PROMPT example:

"I need a Conditional Deed of Sale of Real Property for a Dubai residential apartment sale, where completion is conditional upon the buyer securing mortgage approval by March 2025, with a requirement for 20% initial deposit and the property to be transferred free of existing tenants."

Document background

The Conditional Deed Of Sale Of Real Property is a crucial legal instrument in UAE real estate transactions where the transfer of property ownership is subject to specific conditions being fulfilled. This document is commonly used in situations involving staged payments, regulatory approvals, or specific performance requirements before the sale can be completed. It is particularly relevant in the UAE's dynamic real estate market, where property transactions often involve complex conditions and multiple stakeholders. The deed must comply with UAE Federal Law, including the Civil Code and relevant emirate-specific property regulations, particularly in Dubai and Abu Dhabi. It provides a comprehensive framework for the transaction, including detailed property descriptions, precise conditions precedent, payment terms, warranties, and completion requirements, while ensuring compatibility with local land department registration procedures.

Suggested Sections

1. Parties: Identification of the Seller and Buyer with full legal names, addresses, and identification numbers as required by UAE law

2. Background: Context of the transaction, including brief property description and intent of parties to enter into a conditional sale

3. Definitions: Key terms used throughout the deed, including technical and legal terminology

4. Property Details: Comprehensive legal description of the property including title deed number, plot number, and registration details

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

6. Conditions Precedent: Specific conditions that must be fulfilled before the sale becomes final

7. Completion: Process and requirements for completing the sale, including registration requirements

8. Seller's Warranties: Standard warranties regarding property ownership, encumbrances, and authority to sell

9. Transfer of Title: Process and requirements for transferring title at the relevant land department

10. Default and Remedies: Consequences of default by either party and available remedies

11. Notices: Communication requirements and contact details for formal notices

12. Governing Law and Jurisdiction: Confirmation of UAE law application and jurisdiction

Optional Sections

1. Condition of Property: Detailed section about property condition, used when selling property 'as is' or with specific condition warranties

2. Tenant Rights: Required when property is sold with existing tenants, detailing their rights and existing lease terms

3. Service Charge: For properties in managed communities, detailing service charge obligations and payments

4. Off-Plan Provisions: Required for off-plan properties, including construction milestones and developer obligations

5. Mortgage Details: Required when property is being sold subject to existing mortgage or new financing

6. Escrow Arrangements: When payment is held in escrow pending condition fulfillment

7. Property Management: For properties with specific management requirements or agreements

8. Force Majeure: Optional clause for unforeseen circumstances affecting condition fulfillment

Suggested Schedules

1. Property Schedule: Detailed property specifications, including floor plans and boundaries

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

3. Conditions Schedule: Detailed list of all conditions precedent and their fulfillment requirements

4. Title Documents: Copies of relevant title documents and registration certificates

5. Property Photographs: Current photographs of the property and its condition

6. Inventory: List of fixtures, fittings, and any items included in the sale

7. Required Approvals: List of necessary governmental and regulatory approvals

8. Outstanding Liabilities: Schedule of any outstanding charges, taxes, or liabilities

Authors

Alex Denne

Head of Growth (Open Source Law) @ ��Ƶ | 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

Financial Services

Legal Services

Property Development

Property Management

Banking

Investment

Corporate Services

Relevant Teams

Legal

Real Estate

Compliance

Property Management

Business Development

Risk Management

Corporate Affairs

Operations

Investment

Development

Relevant Roles

Real Estate Manager

Property Developer

Legal Counsel

Compliance Officer

Real Estate Agent

Property Manager

Investment Manager

Contract Administrator

Corporate Lawyer

Real Estate Director

Development Manager

Transaction Manager

Risk Manager

Real Estate Partner

Commercial Director

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Let's create your Conditional Deed Of Sale Of Real Property

Authors

Alex Denne

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