Q: Hi, I had signed an MOU to buy an apartment. I had the following clause in the MOU: "This sale purchase contract is subject to the final approval from the Buyers Banks" My mortgage has been rejected by one bank. While I was processing my mortgage with another bank the MOU expired and the seller is not willing to extend the MOU. Can I claim my deposit check back from the agent? Thanks, Dinesh

Q: Hello, I have signed an MOU where the buyer failed to complete the transaction as per the date of transfer plus the extension. Thus, the MOU expired. I have requested from the agency the 10% deposit cheque signed by the buyer. They refused to give it to me and requested an extension without any penalties or price increase despite the market appreciation by 10%. What can I do to get the cheque legally from them? I am already in a big issue because I already bought a bigger unit having in mind that my unit is sold. They are asking for an MOU extension but the prices went up and I request the fair price as per the market and they are refusing to pay the increase. Appreciate it if somebody can provide me with feedback on these two points: 1- Can the agency hold the cheque and not give it to me? Aren't they violating the law here? 2- What can be done in this case and what would the next steps be? Thanks in advance, Regards,

Q: Hello, We have signed an MOU in Dubai to purchase a property. The property is under 3 names (Mother, and her two sons, both minors). The MOU has been signed by the mother 3 times (as co-owner, and then as a legal guardian of her two kids). She then went to court to ask the judge for authorization to proceed with the sale for her kids. Should this have been done prior to signing the MOU? The case has been rejected by the judge since there was no specific clause/condition in the MOU for obtaining approval from the judge. Is the seller, at least the mother, liable for the penalty of not being able to complete the transfer due to her own actions as stipulated in the MOU (10%)? Thanks a lot.

Q: Hello, I like initial advice from a legal professional before proceeding with the sale of a shop. The buyer agrees to pay a deposit and sign an MOU but wanted to add a line in the MOU that if anything we hide or not disclose which he finds later - he will eligible for a deposit refund and a penalty from us. Now we say no to this open-ended clause right away. We provided a credit report, court letter, accounts everything to his due diligence representing a company but he still wants to add this line to make it risk-free. We thought no deal like this open question can be accepted anywhere in the world. Kindly advise Thanks

Q: I am going to buy a property through an agent in a registered company. Just before signing an MOU and giving a 10% cheque, we came to know that the owner is not here and the stated name in the MOU is the holder of POA (power of attorney). What should I do in this situation? With whom to sign the MOU and under whose name is the cheque to be given? They put the name of the POA holder but the title deed has the name of the owner. Should we ask for POA and get it verified? How to verify it?

Q: Hi, I had signed MOU to pay for a property, but my bank does not approve the loan. The MOU got expired. Now the owner asks the agent to give him my deposit cheque. In the MOU, it is mentioned that the MOU is valid for 45 days and it is subject to bank approval. If there is any rejection from the bank, this MOU will be null and void. In this condition, can I get my deposit cheque back?

Q: Dear Lawyers, I have verbally agreed on the sale price of a property I wish to buy. What happens if I sign the MoU, deposit my 10% security, and the finance falls through, or the bank undervalues the property, meaning I’d need a larger deposit? Can I get it written into the MoU that for such reasons I will not be liable to lose my deposit or cover agents' fees, and would this be legally binding?

تحظى المعاملات العقارية باهتمام كبير بالغ الأهمية في دولة الإمارات العربية المتحدة وبخاصة في إمارة دبي لما لها من شهرة واسعة النطاق في هذا المجال. لذا خصص سمو الشيخ محمد بن راشد آل مكتوم حاكم دبي المرسوم رقم 56 لسنة 2009 الخاص بتشكيل لجنة قضائية خاصة للفصل في الشيكات المتعلقة بالمعاملات العقارية لإمارة دبي.