For expatriates, non-resident investors and locals, buying and selling property in Dubai have become very popular. The best way to mitigate risk in the process is to invest in proper legal advice and representation from the beginning of the sale and purchase process. This will ensure your interests are protected, and the transaction proceeds smoothly.
As an established law firm in Dubai, we have over a decade of Dubai real estate experience and can execute your property transfer on your behalf to ensure a stress-free process. With our Power of Attorney services, we can even represent you fully with your property transaction if you are abroad or pressed for time. We can even prepare a Power of Attorney remotely for you and undertake the whole transaction on your behalf.
How a conveyancing lawyer can protect your interests:
At TWS our conveyancing lawyers will check the validity of the proof of ownership (title deed for completed properties; Oqood for off-plan properties) so you can be confident that the property is free from encumbrance or any legal impediments before you pay the deposit or sign any contracts.
We can advise you on the following real estate law matters:
- Buying and selling property in UAE
- Buying off-plan properties
- Explaining and drafting the Memorandum of Understanding.
- Reviewing completion timeframes and advising on any potential special conditions relating to the purchase.
- Ensuring all maintenance/service fees are paid as per the developer’s requirements for a NOC application.
- Drafting and confirming the final transfer documentation, detailing all monies involved.
- Handover of off-plan property
- Gifting of property in UAE
- Property Powers of Attorney
The importance of having a Will in place:
At the same time as you purchase property, you must ensure you have a legally valid Will as well as a UAE Power of Attorney (POA).
In light of the recent inheritance reforms announced in November of 2020, it’s imperative to have a Will in the UAE to protect the property you own or acquire in your lifetime.
UAE Law applies even to real estate owned by expatriates in the UAE and is an exception to any home country laws applying to inheritance matters. With a Will, you are in control of your assets and to whom they should go in the event of your passing, as opposed to what is prescribed under Sharia Law where the distribution of assets is fixed.
Investing in getting expert legal advice when you are buying a property in the UAE could save you a great deal of stress and money in the long term.
It will also allow you to purchase your home with confidence and leave you free to celebrate the next stage of your expatriate journey.
The author of this article is Nita Maru, Managing Partner of TWS Legal Consultants.
To find out more about buying and selling property in Dubai, please contact our office at email@example.com or call +971 4 448 4284.