Q: Refund from Escrow Account I have purchased a unit from Danube Properties. According to them, the project handover will be in 2024 or 2025. Due to some unexpected financial crisis, I can’t pay the instalments, due to which I have some penalty amount as well. My question is if I cancel the unit, will I get the refund of my monthly payments since the account to which I am transferring the amount is an escrow account, not the direct Danube account? Thanks

Q: I have purchased a studio in Dubai, 30% was paid already (AED 171,000). The handover is getting delayed already 4 months, the developer is already in his grace period for handover but the apartment is also not registered in DLD. I have paid almost all that I have but I am not able to pay anymore because of some financial issues. Will I get my money back? Would it be possible to pay a lawyer after execution not in advance? Thanks in advance for your answers.

Q: Defaulting on property installments and refund from the developer I have purchased a unit from a developer. According to them, the project handover was meant to be December 2019 but did not complete until mid-year 2020. Due to the issue with the developer's payment platform from Nigeria being blocked by a firewall and some unexpected banking/financial regulations in Nigeria limiting the amount of foreign dollar transactions for the month, I can’t continue to pay the installments, due to which I have some penalty amount as well. I received a letter from the land department (Oqood) requesting the termination of my unit. My question is if my unit is terminated, will I get the refund of my monthly payments. On the document sent to me, It is stated that. Paid amount: AED 154,260,000 Claimed amount: AED 189, 540,000 Thanks

Q: In 2023, I purchased a property and began making monthly installment payments through their 1% payment plan. Unfortunately, due to financial struggles caused by my business collapse, I’ve been unable to continue paying. Despite the project being only 10% complete, the developer refused to grant me additional time, and instead, began adding penalties. As I'm not based in Dubai, communication has been difficult. They’re threatening to terminate the contract, forfeiting all the amount which I paid so far. I’ve already paid them 30%. They are demanding immediate payment despite my current bankruptcy. Is there a chance to recover the amount I’ve paid so far? How much will they deduct? Will they forfeit the entire amount I’ve paid?

Q: Hello, I signed a Contract F, but the buyer could not arrange funds within 30 days. Now, I have a new buyer, but the broker says I cannot sign another Contract F for 15 more days under DLD law and cannot sell the property during this period. Is this true?

This Law establishes interim property register in which sale contracts, off-plan sales, and other off-plan legal dispositions of real property are registered prior to inclusion in the property register maintained by Dubai Land Department.

The provisions of this Law supersede articles (2) and (11) of Law No. (13) of 2008 Regulating the Interim Property Register in the Emirate of Dubai.

This Resolution approves the Implementing Bylaw of Law No. (13) of 2008 Regulating the Interim Property Register in the Emirate of Dubai.