Q: A property seller intends to settle their property mortgage with their bank before selling the property to me. In other words, the seller said they wanted to go to their bank, wire the outstanding balance to their bank, and wait for the mortgage settlement confirmation letter by the bank. How long does this process usually take in the UAE? Are there any delays by the banks?

Q: Hi. I am going to buy a property in Dubai and entered an MOU. The owner is from Sudan living in Saudi. He is saying he will give a POA and I need to give the sale proceed cheque to the POA. However, the mortgage bank is not accepting to issue a cheque to POA and mentioning they will give cheque only to the owner's name. Please advise

Q: I am buying a mortgaged property in Abu Dhabi for which I'm required to make payment to the seller's loan obligation before the Title Deed Transfer, so that bank can issue a mortgage loan clearance letter and release the original title deed document to the seller. Unlike Dubai, I understand there is no process currently in place to "block the property" with Abu Dhabi Municipality at the time the buyer gives a cheque (in the name of the seller's bank) for the loan obligation. Therefore, my question is, how to minimize the risk of the buyer's default, i.e., the seller does not transfer the Title Deed to the buyer after the buyer pays a cheque for all the seller's loan obligation. Thank you

Q: Dear sir/madam, My credit card loan was transferred to a wrong account. The person is not willing to pay it back. Is there any chance to get back the money? Kindly advise me!

The provisions of this Law apply to the mortgage of real roperty as security for debt. It makes no difference whether the debt is secured by a charge over the whole of the property or over an undivided interest therein or by right in rem or personal right over a property marked as sold off-plan.

The provisions of this law, promulgating UAE Civil Code, govern the civil transactions in the United Arab Emirates. The commercial transactions remain subject to the laws and regulations applicable in their regard.