Real estate transfer fees are payable on all properties bought, sold and transferred in Dubai, whether by expats or residents. Different levels are applicable for sales and for property transfers. If you have decided that you wish to transfer part or all of your interest in a property to a close relative, how do you comply with the rules and applicable fees?
To complete the process of a property transfer, there are several steps involved. As with a normal property purchase or sale in Dubai, the title deed is required to initiate the process. You also need a floor plan or, as it is known in Dubai law, an Affection Plan. This costs around AED 260 and can be obtained from the Dubai Land Department. You must also produce a valuation certificate. This determines the value of the property and allows the Dubai Land Department to calculate the real estate transfer fee and rate applicable to the transaction. The certificate costs AED 4,010 and takes 7-10 days to receive. You can apply for the valuation certificate from the Dubai Land Department. As such, you might need a power of attorney in Dubai to carry this out if you are living elsewhere. If a developer is involved (for example, if transferring an off-plan purchase), you will also need a No Objection Certificate. This states that the developer has no objection to the transfer of ownership taking place, and that there are no outstanding payments left on the property. NOC fees can vary between AED 500 and AED 5,000. All parties need to be present at this stage, and in the final stage of transfer, with the Dubai Land Department or one of its endorsed Registration Trustees.
At Seal Real Estate Registration Trustee, we provide guidance on real estate transfer fees and the process involved. Visit us online at http://www.sealra.com/ to see more about what we do. If you have queries, you can call us on +971 436 17 776 or email us at firstname.lastname@example.org.