Registering Ejara End by Ownership contract between the property owner and a financing entity through which all payments are collected from the buyer to the financing entity account and which ends with the buyer owning the property.
◦ A limited liability company (LLC) to always ask about the names of owners (shareholders)
– In case of authorization (general or specific) to sell, it is a must to make sure of:
– Type of sales, transport or transfer of the real estate or assets or property or non-movable funds in the authorization must be mentioned
– If the authorization is issued from the Seller to the Buyer and the property is to be registered under the Buyer name (Sell-to-Own is to be mentioned in the authorization)
– Authorization of authorization is not accepted, even when it is mentioned in the first authorization, 2 sale processes to be registered without NOC and that to be mentioned in the Remarks.
– Authorization to last for 2 years only, and to be renewed in Dubai Courts
– In case of authorization from the seller, a sale check to be written (Manager Check) under the name of the seller, not the authorized person even if it is mentioned in the authorization, or under the name of the bank if the property is mortgaged to the bank in order to release the property mortgage.
– To verify the last page of the authorization to make sure of the expiry of the authorization
– To be translated and attested if it is not in Arabic, and to be attested from the UAE embassy in the related country and the Ministry of Foreign Affairs of the UAE
– Authorization from a minor is not accepted (under 21), NOC of Sale from Dubai Courts or Minor Affairs is accepted
– If it is an authorization to sell a land, the original is to be taken
– If the authorization is in Arabic & English, the Arabic version is to be applied
0.25% of the amount of the financing
Knowledge fee of Dhm 10 on each fee
– 4000 Dirham