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The Mortgage Purchase Agreement is commonly used in the UAE when one financial institution seeks to acquire mortgage rights from another, often as part of portfolio sales or strategic restructuring. This document is essential for compliance with UAE Federal Law No. 14 of 2008 and relevant emirate-specific property laws, ensuring proper transfer of mortgage rights while protecting all parties' interests. The agreement typically includes detailed provisions about the mortgage being purchased, property specifications, payment terms, and regulatory compliance requirements. It's particularly important in the UAE market where both conventional and Islamic financing options exist, and where specific registration requirements with relevant land departments must be met. The document needs to address local regulatory requirements, including those of the UAE Central Bank and respective emirate-level property registration authorities.

1. Parties: Identification of all parties including the purchaser, seller, and any relevant financial institutions

2. Background: Context of the transaction, including brief description of the property and existing mortgage arrangement

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

4. Sale and Purchase: Core terms of the mortgage purchase, including purchase price and payment terms

5. Conditions Precedent: Conditions that must be satisfied before completion

6. Completion: Details of the completion process, timing, and requirements

7. Representations and Warranties: Statements of fact and assurances from both parties

8. Seller's Obligations: Specific obligations of the seller including document delivery and cooperation requirements

9. Purchaser's Obligations: Specific obligations of the purchaser including payment and assumption of mortgage responsibilities

10. Property Details: Comprehensive description of the mortgaged property

11. Mortgage Terms: Details of the mortgage being purchased including principal amount, interest rate, and payment terms

12. Transfer Process: Process for transferring the mortgage and associated rights

13. Registration Requirements: Requirements for registering the transfer with relevant authorities

14. Governing Law and Jurisdiction: Specification of UAE law as governing law and jurisdiction details

15. Notices: Process and requirements for formal communications between parties

16. General Provisions: Standard boilerplate provisions including severability, entire agreement, and amendments