Dubai has seen a drastic rise in demand for new homes since Covid-19 restrictions were lifted. Buyers from all over the world are making a beeline to invest in Dubai in order to take advantage of affordable prices and interest rates. In June of 2021 alone, deals worth DHR 14.97 billion were made in Dubai, the highest since December 2013. The Dubai real estate market is expected to cross the DHR 100 billion mark by the end of 2021.
But in this mad rush to invest, there are some precautions you need to take to ensure the transaction is legitimate and that your paperwork is in order. This is where the services of an experienced conveyancing lawyer in Dubai will be extremely helpful.
What is Conveyancing?
Simply put, conveyancing is the transfer of legal title from one person to another.
Why do you need a conveyancing lawyer?
As you can imagine, there are procedures and verifications that need to be completed before you can sell or purchase a property in Dubai. An experienced conveyancing lawyer can offer valuable advice and expertise to ensure the transaction goes smoothly without any legal hurdles.
How Can a Conveyancing Lawyer Help During Transfer?
Employ the services of a property conveyancing specialist to complete the transaction without any issues. At TWS having had over a decade of UAE real estate experience, we can assist with the following:
- Prepare and verify all the necessary documents such as the Memorandum of Understanding for the property transfer
- Advise on special conditions and parties’ obligations in the process
- Ensure the payment of relevant fees to the property developer, the Dubai Land Department, trustees and brokers
- Ensure all costs and payments are accurately calculated.
- Procure approvals and clearances from the property developers and facility management firm
- Assist with banks or financial institutions to apply for a mortgage.
- Deal with the Land Department at final closing and transfer of the title deed in a timely manner
- Drafting a UAE Power of Attorney if you are unable to undertake the transfer yourself personally
Our hands on property team at TWS will help speed up the process and will be on your side whether you a buyer or a seller. We will also protect your interests once you have bought your property and can draft a Will in the UAE to safeguard your assets from local inheritance laws. Buying a property and having a valid Will in the UAE / UAE Power of Attorney go hand in hand to ensure your assets are secure.
To find out more about buying/selling property in Dubai/ Wills in the UAE/ Powers of Attorney and the Conveyancing legal process, please contact our office at email@example.com or call +971 4 448 4284.