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Property Transfer Contract
I need a Property Transfer Contract for a 2-bedroom apartment in Dubai Marina, with completion scheduled for March 15, 2025, and full payment to be made in one installment at completion.
1. Parties: Detailed identification of the Seller and Buyer, including full legal names, Emirates ID numbers for UAE residents, passport numbers for non-residents, and complete contact details
2. Background: Context of the transfer, including current ownership status and brief property history
3. Definitions: Key terms used throughout the agreement, including Property, Transfer Date, Completion, Title Deed, etc.
4. Property Details: Comprehensive description of the property including location, size, title deed number, and any associated rights
5. Purchase Price: Agreed purchase price, payment terms, and method of payment
6. Transfer Terms: Specific conditions and process for the transfer of ownership
7. Seller's Warranties: Warranties regarding ownership, absence of encumbrances, and authority to sell
8. Buyer's Obligations: Responsibilities of the buyer including payment, registration requirements, and due diligence
9. Completion: Details of the completion process, including timing, location, and requirements
10. Registration: Requirements and procedures for registering the transfer with relevant authorities
11. Costs and Fees: Allocation of transfer fees, registration fees, and other associated costs
12. Governing Law and Jurisdiction: Specification of UAE law as governing law and relevant courts' jurisdiction
1. Mortgage Details: Required if the property is subject to an existing mortgage or if the purchase is being financed through a new mortgage
2. Payment Plan: Required if the purchase price is to be paid in installments rather than as a single payment
3. Condition of Property: Detailed description of property condition and any agreed repairs, particularly relevant for existing properties
4. Vacant Possession: Required if the property is currently occupied and details of vacancy timing need to be specified
5. Service Charge: Required for properties in managed communities, detailing responsibility for outstanding and future service charges
6. Agent Provisions: Required if real estate agents are involved, detailing commission arrangements
7. Force Majeure: Optional clause dealing with unforeseen circumstances that might affect completion
8. Utilities and Connections: Required for existing properties, dealing with transfer of utility connections and outstanding bills
1. Property Schedule: Detailed technical description of the property including floor plans, area calculations, and included fixtures and fittings
2. Payment Schedule: Detailed breakdown of payment terms, installments, and due dates if applicable
3. Title Documents: Copies of current title deed and other relevant ownership documents
4. Property Inspection Report: If applicable, detailed report on property condition and any identified issues
5. Service Charge Statement: Current status of service charges and maintenance fees if applicable
6. EJARI Certificate: For Dubai properties, copy of EJARI registration if property was previously rented
7. NOC Documents: Any required No Objection Certificates from developers or relevant authorities
Authors
Real Estate
Banking and Finance
Legal Services
Property Development
Construction
Property Management
Investment
Real Estate Investment Trusts (REITs)
Hospitality
Retail
Legal
Real Estate
Compliance
Property Management
Asset Management
Investment
Operations
Documentation
Risk Management
Corporate Services
Real Estate Manager
Property Lawyer
Legal Counsel
Compliance Officer
Real Estate Agent
Property Developer
Investment Manager
Real Estate Investment Advisor
Property Portfolio Manager
Contracts Manager
Real Estate Operations Director
Chief Legal Officer
Property Acquisition Manager
Real Estate Transaction Coordinator
Legal Documentation Specialist
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