Document background
The Mortgage Purchase Agreement Template is designed for use in the United Arab Emirates when transferring existing mortgage rights and obligations between parties. This document is essential in scenarios where mortgage portfolios are being sold, restructured, or transferred between financial institutions, or when individual mortgages are being reassigned. The template incorporates crucial elements required by UAE Federal Law, Central Bank regulations, and specific emirate-level requirements, particularly those of Dubai and Abu Dhabi. It includes provisions for both conventional and Islamic financing structures, ensuring compliance with Sharia principles where applicable. The document addresses key aspects such as property registration requirements, transfer mechanisms, payment terms, and regulatory approvals, while providing flexibility to accommodate various types of mortgage purchases within the UAE legal framework.
