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Real Estate Transfer Agreement
I need a Real Estate Transfer Agreement for a commercial office property in Dubai Business Bay, transferring from a UAE-based corporate seller to a foreign corporate buyer, with completion scheduled for March 2025 and including specific foreign ownership compliance clauses.
1. Parties: Detailed identification of the Seller and Buyer, including Emirates ID numbers for UAE nationals/residents, passport details for foreign buyers, and trade license details for corporate entities
2. Background: Context of the transaction, including brief property history and current ownership status
3. Definitions: Key terms used throughout the agreement, including specific UAE real estate terminology
4. Property Details: Comprehensive description of the property including title deed number, property size, location, and registration details with the relevant land department
5. Purchase Price and Payment Terms: Detailed breakdown of the purchase price, payment schedule, and method of payment in compliance with UAE regulations
6. Transfer of Ownership: Process and conditions for transferring property ownership through the relevant land department
7. Seller's Warranties: Seller's representations regarding property ownership, absence of disputes, and compliance with local laws
8. Buyer's Warranties: Buyer's representations regarding financial capacity and compliance with UAE property ownership laws
9. Completion: Details of the completion process, including registration requirements and handover procedures
10. Costs and Fees: Allocation of transaction costs, including registration fees, transfer fees, and agent commission
11. Governing Law and Jurisdiction: Specification of UAE law as governing law and relevant emirate's courts' jurisdiction
1. Mortgage Details: Required if the property is currently mortgaged or if the purchase involves new mortgage financing
2. Foreign Ownership Declaration: Required for non-UAE/GCC buyers, confirming compliance with foreign ownership restrictions
3. Property Management Handover: Required for properties in managed communities or buildings
4. Tenant Rights: Required if the property is currently leased to tenants
5. Condition Precedents: Required when completion is subject to specific conditions such as regulatory approvals
6. NOC Requirements: Required when No Objection Certificates are needed from developers or authorities
7. Escrow Arrangements: Required when payment is to be held in escrow pending conditions
8. Service Charge Settlement: Required for properties in managed communities to address outstanding service charges
1. Schedule 1 - Property Details: Detailed technical description of the property, including floor plans and area calculations
2. Schedule 2 - Title Documents: Copies of title deed and other ownership documents
3. Schedule 3 - Payment Schedule: Detailed breakdown of payment installments and dates
4. Schedule 4 - Property Condition Report: Current condition of the property and any agreed repairs or modifications
5. Schedule 5 - Inventory: List of included fixtures, fittings, and furniture if applicable
6. Appendix A - Required Documents: List of documents required from both parties for completion
7. Appendix B - Registration Procedures: Step-by-step process for property registration with relevant authorities
8. Appendix C - Power of Attorney: If applicable, POA documents for representation in the transaction
Authors
Real Estate
Property Development
Banking & Finance
Legal Services
Construction
Property Management
Investment & Asset Management
Professional Services
Real Estate Investment Trusts (REITs)
Hospitality
Retail
Legal
Real Estate
Compliance
Property Management
Asset Management
Investment
Operations
Risk Management
Corporate Affairs
Business Development
Documentation
Transaction Management
Real Estate Manager
Property Lawyer
Legal Counsel
Compliance Officer
Real Estate Agent
Property Developer
Investment Manager
Asset Manager
Property Portfolio Manager
Real Estate Director
Transaction Manager
Contracts Manager
Legal Director
Chief Legal Officer
Real Estate Partner
Property Consultant
Development Manager
Real Estate Investment Analyst
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