Questions & Answers
The right to terminate the SPA and recover the paid amount
I have purchased a studio unit from a developer in Oct 2015. To date, I have made 8 payments (total: AED 305.000) plus Oqood (30.000).
The developer destroyed my SPA without my knowledge (the excuse was that I didn't collect it but I have requested it on multiple occasions).
Currently, the project has been delayed for nearly 2 years. Initially, the handover was Q2, 2018 and now it's expected Q4, 2020 (not sure if that's possible as currently, it's only at 70.56 complete).
Can I cancel my contract and get my money back since I have no contract in place?
They are keen to set up a new contract and get me to sign one.
Greetings!
If you have a copy of the SPA from the developer and receipts which prove that you made the payment, you can file a case to terminate the SPA and claim to refund your paid amount.
Note that the court might request court fees of 4-6% from the SPA value (but not more than AED 40,000), not from the claim amount.
