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Declaration Of Trust After Purchase

Declaration Of Trust After Purchase Template for United Arab Emirates

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Key Requirements PROMPT example:

Declaration Of Trust After Purchase

"I need a Declaration of Trust After Purchase for a Dubai residential property purchased on January 15, 2025, where I will act as trustee holding the property for my three children as beneficiaries, with equal beneficial interest shares."

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Document background
The Declaration Of Trust After Purchase is a crucial document in UAE property and asset management, commonly used when the legal ownership of property needs to be separated from its beneficial ownership. This arrangement is particularly relevant in the UAE's unique legal framework, which combines civil law with Sharia principles. The document is typically employed in situations involving family property arrangements, corporate structuring, or investment holdings where one party holds legal title while another enjoys beneficial ownership. The declaration must comply with UAE federal laws, including the Civil Code and anti-money laundering regulations, and may need to incorporate Islamic finance principles. It includes detailed information about the property, parties involved, terms of the trust arrangement, and respective rights and obligations of trustees and beneficiaries.
Suggested Sections

1. Parties: Identification of the Trustee(s) and Beneficiary(ies), including full legal names, addresses, and relevant identification numbers

2. Background: Context of the purchase and creation of the trust, including details of the property/asset acquisition

3. Definitions: Key terms used throughout the document, including 'Trust Property', 'Trust Period', 'Beneficial Interest', etc.

4. Declaration of Trust: Formal declaration that the Trustee holds the property on trust for the Beneficiary

5. Trust Property Details: Comprehensive description of the property/assets held in trust, including all relevant registration details

6. Trustee Powers and Duties: Detailed outline of the Trustee's authority, responsibilities, and limitations

7. Beneficiary Rights: Specification of the Beneficiary's entitlements and rights under the trust

8. Trust Duration: Period of the trust and conditions for its termination

9. Management of Trust Property: Procedures for managing, maintaining, and dealing with the trust property

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

Optional Sections

1. Multiple Trustees Provisions: Required when there is more than one trustee, detailing how decisions are made and responsibilities shared

2. Successor Trustee Provisions: Optional provisions for appointing replacement trustees

3. Income Distribution: Required when the trust property generates income, specifying how it should be distributed

4. Sharia Compliance Declaration: Required when the trust needs to explicitly comply with Islamic principles

5. Anti-Money Laundering Compliance: Required for high-value transactions or when dealing with regulated assets

6. Trust Expenses: Optional section detailing how trust-related expenses are to be handled

7. Variation of Trust: Optional provisions for modifying trust terms

8. Dispute Resolution: Optional detailed procedures for handling disputes between parties

Suggested Schedules

1. Schedule 1 - Trust Property Details: Detailed description of the property/assets, including title deeds, registration numbers, and relevant certificates

2. Schedule 2 - Purchase Documentation: Copies of purchase agreements, receipts, and related documentation

3. Schedule 3 - Beneficial Ownership Structure: Diagram and explanation of the beneficial ownership arrangement

4. Schedule 4 - Property Registration Documents: Copies of property registration certificates and related official documents

5. Appendix A - Trustee Powers: Comprehensive list of specific powers granted to the Trustee(s)

6. Appendix B - Compliance Certificates: Relevant compliance certificates, including any required Sharia compliance certifications

7. Appendix C - Required Notices: Templates of notices required for various trust-related communications

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 & Financial Services

Investment Management

Islamic Finance

Property Development

Professional Services

Family Business

Wealth Management

Corporate Services

Relevant Teams

Legal

Compliance

Real Estate

Property Management

Corporate Services

Wealth Management

Islamic Finance

Risk Management

Company Secretarial

Asset Management

Relevant Roles

Legal Counsel

Property Manager

Real Estate Director

Compliance Officer

Trust Administrator

Wealth Manager

Investment Advisor

Corporate Lawyer

Islamic Finance Specialist

Real Estate Partner

Property Consultant

Asset Manager

Family Office Manager

Legal Director

Company Secretary

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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