Questions & Answers
Seeking compensation and termination because of delaying property transfer
Hello,
I signed a sales agreement for the property a few months ago and in terms & conditions (issued by Dubai Land Department), it was mentioned that the transfer of the property should be done not later than September 1st.
Unfortunately, the seller did not manage to make a transfer until the due date. Until this date, the seller failed to get the NOC from the developer of the property.
What could be my legal action if I would like to terminate the contract because of the failure to transfer the property and get back my deposit?
Do I have a chance to seek compensation in this situation if in MOU it is only mentioned that the ''seller'' agrees to pay the same deposit amount to the buyer as compensation for the loss of the said property, although it is not lost, but the seller did not make a transfer due to his own act of omissions?
Dear client,
Good day!
Please note that you have the right to seek the penalty clause if the standard agreement for Sale & Purchase is signed from the Land Department.
You have the right for penalty clause in which the deposit for both the parties can be taken by you, either; if you're the buyer- you can take the seller's deposit and if you're the seller- you can take the buyer's deposit, in case of breach of the contract.
For further assistance, please feel free to contact us via phone or send an email.
Thank you!
