Questions & Answers
How to terminate a property SPA for delay in handover and request refund
Hi All,
I bought a property in Dubai in May 2018. The timelines are mentioned below.
Dec 2017: the project was commenced.
May 2018: I bought my property (30% Paid and 70% Mortgage (upon completion))
March 2021: (66% project completed as per the RERA website).
As per my SPA, the project completion date was Dec 2019.
2020 being a force majeure year I am not sure if we are supposed to count that in the compensation period.
Other than that I wanted to know what kind of compensation should I expect and in what form (rebate on the property or cash).
I wanted a solution for 2 aspects.
1) Compensation
2) Terminate the contract.
Your inputs are highly appreciated.
Dear Questioner,
You can certainly request the Court for compensation due to the delay in handover.
We need to review your SPA to assist you further with regards to the termination.
You can call us on the phone for a discussion.
Regards.
Dear questioner,
As the developer has defaulted on its basic duties by delaying the handover of the property, you have full rights to terminate the mutually signed SPA and ask for a full refund of your investments till date along with compensation.
Kindly contact us directly for a detailed discussion.
If need be, kindly contact us at our phone for a detailed discussion or write us at our email for further assistance.
We have similar cases that we are handling right now.
Before rendering our opinion, we need to know and read the full SPA. From there, we can conclude the proper action to be taken against the seller or developer.
You may send an inquiry at our email and one of my associates will take care of it.
Thank you.
Hello,
As per your query, please note that you may claim the compensation. However, you have to check the clause as per the SPA and also the termination clause.
If the project is still ongoing, then there are chances the termination might not happen, however you may claim compensation for the delay. Everything depends upon the situation and case to case basis.
Please call or e-mail us.
Disclaimer- The above referred view is not a legal opinion, these opinions cannot be challenged or presented before any court of Law.
