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Contract For Sale Of Commercial Property

Contract For Sale Of Commercial Property Template for United Arab Emirates

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Key Requirements PROMPT example:

Contract For Sale Of Commercial Property

"I need a Contract For Sale Of Commercial Property for a warehouse facility in Dubai Industrial City, with completion scheduled for March 2025, including specific provisions for existing tenant rights and equipment transfer."

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Document background
The Contract For Sale Of Commercial Property is a crucial legal document used in the United Arab Emirates for transferring ownership of commercial real estate assets. It is essential for any business-related property transaction in the UAE, whether in mainland areas or free zones. This document must comply with both federal laws (such as the UAE Civil Code and Commercial Transactions Law) and specific emirate-level property regulations. The contract covers all aspects of the transaction, from initial agreement to final property transfer, including due diligence requirements, payment terms, warranties, and completion procedures. It is particularly important in the UAE context due to specific requirements regarding foreign ownership, property registration procedures, and commercial property regulations that vary between emirates.
Suggested Sections

1. Parties: Identification of seller and purchaser with full legal names, registration details, and addresses

2. Background: Context of the transaction, brief description of the property, and purpose of the agreement

3. Definitions: Definitions of key terms used throughout the agreement

4. Sale and Purchase: Core transaction terms including property description, purchase price, and basic obligations

5. Property Details: Detailed description of the property, including boundaries, area, and permitted use

6. Purchase Price: Detailed breakdown of the purchase price, payment terms, deposit requirements, and payment method

7. Completion: Completion date, process, and requirements for transfer of ownership

8. Seller's Warranties: Warranties regarding property ownership, condition, and legal status

9. Purchaser's Warranties: Warranties regarding capacity to purchase and funding availability

10. Pre-Completion Obligations: Obligations of both parties before completion, including due diligence and approvals

11. Post-Completion Obligations: Requirements after completion including registration and handover

12. Title and Registration: Provisions relating to transfer of title and registration requirements

13. Default and Termination: Consequences of default and termination rights

14. General Provisions: Standard legal provisions including notices, governing law, and dispute resolution

Optional Sections

1. Conditions Precedent: Used when completion is subject to specific conditions being met

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

3. Service Charge Provisions: Needed for properties in managed developments or communities

4. Foreign Ownership Provisions: Required when purchaser is a foreign entity

5. VAT Provisions: Detailed VAT treatment if the transaction is VAT-applicable

6. Mortgage Provisions: Required when property is currently mortgaged or will be mortgaged

7. Development Obligations: Needed if property includes undeveloped land or ongoing construction

8. Free Zone Provisions: Required for properties located in UAE free zones

Suggested Schedules

1. Property Schedule: Detailed property description, including floor plans and area calculations

2. Title Documents: Copies of title deed and other ownership documents

3. Payment Schedule: Detailed breakdown of payment installments and timing

4. Due Diligence Documents: List of documents provided for due diligence

5. Property Condition Report: Detailed report on property condition at time of sale

6. Existing Tenancies: Details of any existing lease agreements

7. Service Contracts: List of ongoing service contracts affecting the property

8. Property Rules and Regulations: Applicable building or development rules and regulations

9. Form of Transfer Documents: Templates of documents required for property transfer

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














































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Relevant Industries

Real Estate

Banking & Finance

Legal Services

Construction & Development

Property Management

Insurance

Retail

Hospitality

Manufacturing

Healthcare

Education

Professional Services

Logistics & Warehousing

Relevant Teams

Legal

Real Estate

Finance

Compliance

Operations

Business Development

Risk Management

Facilities Management

Corporate Affairs

Investment

Relevant Roles

Real Estate Director

Legal Counsel

Property Manager

Commercial Director

Chief Financial Officer

Investment Manager

Facilities Manager

Corporate Lawyer

Real Estate Agent

Property Developer

Asset Manager

Compliance Officer

Risk Manager

Business Development Manager

Operations Director

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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