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Legal Real Estate Contract
"I need a Legal Real Estate Contract for purchasing a 2-bedroom apartment in Dubai Marina from an individual seller, with completion scheduled for March 2025, including provisions for existing tenant rights and mortgage financing arrangements."
1. Parties: Detailed identification of buyer and seller, including Emirates ID numbers, passport details, and company information if applicable
2. Background: Context of the transaction, including property market status and any relevant pre-contractual arrangements
3. Definitions: Key terms used throughout the agreement, including technical and legal terminology specific to UAE real estate
4. Property Details: Comprehensive description of the property, including title deed number, location, size, and any registered encumbrances
5. Purchase Price: Detailed breakdown of the purchase price, payment schedule, and payment methods acceptable under UAE law
6. Payment Terms: Specific conditions for payment, including installment details, deposit requirements, and escrow arrangements
7. Completion: Requirements and process for completing the transaction, including registration with relevant authorities
8. Seller's Obligations: Responsibilities of the seller including property handover and document provision
9. Buyer's Obligations: Responsibilities of the buyer including payment and compliance with registration requirements
10. Warranties and Representations: Legal guarantees from both parties regarding their capacity to enter the agreement and property status
11. Default and Termination: Consequences of breach and conditions for contract termination
12. Governing Law and Jurisdiction: Specification of UAE law application and relevant emirate's courts' jurisdiction
13. Notices: Process for formal communications between parties
14. Entire Agreement: Confirmation that the contract represents the complete understanding between parties
1. Condition Precedents: Used when completion depends on specific conditions being met first, such as mortgage approval or NOC acquisition
2. Property Management: Required for properties in managed communities or with shared facilities
3. Tenant Rights: Included when the property is sold with existing tenants
4. Development Completion: Necessary for off-plan properties, including construction milestones and developer obligations
5. Financing Arrangements: Required when purchase involves mortgage or Islamic financing
6. Service Charges: Included for properties in managed communities with ongoing service fees
7. Car Parking: Required when dealing with allocated parking spaces in apartment buildings
8. Foreign Ownership: Necessary when buyer is non-UAE national, addressing specific ownership restrictions
1. Property Plan: Detailed floor plans, plot maps, and property boundaries
2. Title Deed: Copy of current title deed and translation if required
3. Payment Schedule: Detailed breakdown of payment installments and due dates
4. Property Inventory: List of fixtures, fittings, and items included in the sale
5. Due Diligence Report: Results of property inspection and legal status verification
6. Service Charge Statement: Current and projected service charges for the property
7. NOC Documents: Required No Objection Certificates from relevant authorities
8. Power of Attorney: If applicable, properly authenticated power of attorney documents
Authors
Real Estate
Construction
Banking & Finance
Legal Services
Property Development
Property Management
Investment & Asset Management
Hospitality
Retail
Commercial Property
Residential Property
Islamic Finance
Legal
Real Estate
Compliance
Property Management
Investment
Operations
Asset Management
Contract Administration
Due Diligence
Risk Management
Transaction Advisory
Property Development
Real Estate Lawyer
Property Manager
Real Estate Agent
Legal Counsel
Compliance Officer
Property Developer
Investment Manager
Asset Manager
Real Estate Transaction Manager
Contract Administrator
Property Valuation Specialist
Land Registration Officer
Real Estate Investment Advisor
Property Portfolio Manager
Legal Director
Real Estate Operations Manager
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