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Notice Of Intent To Foreclose Letter

Notice Of Intent To Foreclose Letter Template for United Arab Emirates

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Key Requirements PROMPT example:

Notice Of Intent To Foreclose Letter

I need a Notice of Intent to Foreclose Letter for a defaulted commercial property mortgage in Dubai, where the borrower has missed six consecutive payments since January 2025, with an outstanding amount of AED 4.5 million.

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Document background
The Notice of Intent to Foreclose Letter is a critical document in the UAE's mortgage enforcement process, required by UAE Federal Law No. 14 of 2008 and related emirate-specific regulations. This formal notice must be issued before any foreclosure proceedings can commence, providing the mortgagor with a legally mandated opportunity to cure the default. The document must comply with strict UAE legal requirements regarding content, delivery method, and timing, including specific cure periods that vary by emirate. It should detail the exact nature of the default, outstanding amounts, and consequences of non-payment. In cases involving Islamic banking facilities, the notice must also ensure compliance with Shariah principles. The document serves both as a legal requirement and as evidence of proper notification in subsequent foreclosure proceedings.
Suggested Sections

1. Sender Details: Full legal name and address of the mortgagee/bank, including any relevant license or registration numbers

2. Recipient Details: Full legal name and address of the mortgagor, including all co-borrowers if applicable

3. Property Identification: Complete legal description of the mortgaged property, including title deed number and registration details

4. Mortgage Details: Reference to the mortgage agreement, including date of execution and registration number

5. Default Notification: Clear statement of the default status, including the nature of default and when it occurred

6. Amount in Default: Precise statement of the outstanding amount, including principal, interest, and any other charges

7. Cure Period: Clear statement of the time period given to cure the default (as per UAE law)

8. Intent to Foreclose: Formal declaration of intent to commence foreclosure proceedings if the default is not cured

9. Legal Requirements: Statement confirming compliance with UAE Federal and relevant Emirate-specific laws

10. Contact Information: Details for communication regarding payment or resolution of the default

Optional Sections

1. Payment History: Include when there is a pattern of defaults or disputed payments that need to be documented

2. Previous Notifications: Reference to prior notices or communications regarding the default, if any have been sent

3. Alternative Resolution Options: Include when the bank is willing to offer restructuring or settlement options

4. Insurance Claims: Include if there are relevant insurance matters affecting the property or mortgage

5. Third Party Rights: Include if there are other registered interests or claims on the property that affect the foreclosure

Suggested Schedules

1. Schedule A - Payment History: Detailed record of all payments made and missed, including dates and amounts

2. Schedule B - Outstanding Amount Calculation: Detailed breakdown of the total amount in default, including principal, interest, penalties, and fees

3. Schedule C - Property Documentation: Copies of relevant property and mortgage registration documents

4. Schedule D - Previous Correspondence: Copies of previous default notices or relevant communications

5. Appendix 1 - Legal Requirements Checklist: Checklist confirming compliance with all relevant UAE legal requirements for foreclosure notices

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




















Clauses


















Relevant Industries

Banking & Financial Services

Real Estate

Legal Services

Property Development

Mortgage Services

Islamic Banking

Construction & Development

Property Management

Relevant Teams

Legal

Mortgage Operations

Collections & Recovery

Risk Management

Compliance

Property Services

Credit Administration

Islamic Banking

Real Estate Operations

Documentation

Relevant Roles

Legal Counsel

Mortgage Officer

Banking Operations Manager

Collections Manager

Risk Management Officer

Compliance Officer

Property Services Manager

Credit Recovery Specialist

Islamic Banking Specialist

Real Estate Manager

Foreclosure Specialist

Legal Documentation Officer

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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