Q: What is the interpretation of this clause in Form F of the sale agreement of property? "If applicable, if after applying for the loan the Buyer is unable to obtain such loan within a period not to exceed (14) days from the date of execution of the Contract, this Sales Contract shall be void, and the full amount of the Deposit Cheque shall be refunded to Buyer."

Q: Hi, I have a property in Dubai for which we entered into a contract and signed Form F at the decided rate. The agreement was subject to getting pre-approval. We have waited for two months now, the buyer is unable to obtain the loan from the bank. The last date of the contract is also over. We want to cancel the contract, but the buyer is not canceling and says that he will wait for some more time to see if he can get the loan. What should we do? Please help!

Q: Hi, What if the buyer backs out in the purchase of a property after the internal MOU drafted by the seller was signed? There was a clause stating the security deposit will be returned upon full payment. Form F from the DLD was not yet signed. In this case, can we still get the 10% security deposit or not?

Q: Dear Sir/Madam, We are at the final stages of the process, with our MoU expiring while waiting for the NOC. All cheques have been issued and shared. In the MoU, we have a couple of additional conditions regarding the seller's obligation to obtain the NOC and a penalty of 10% for defaulting on either side. If the seller decides not to continue with the process and not renew the MoU, does the expired one still legally cover the buyer?

Q: Hello, Legal Advice Middle East I am writing to seek your advice on my ongoing process of buying an apartment in Dubai Marina. I have signed an MoU with the seller, it is valid until 21 May 2024. I have done the valuation process but the result was not reaching the selling price at all so I couldn't proceed with the mortgage. In good faith, I was seeking another way and was willing to conduct a 2nd valuation and pay for it again, and still, the result came out unfavorably again for the 2nd valuation. This means I cannot get the mortgage from the bank at 80% of what I am hoping for. Therefore, I would like to ask the seller to either sell the apartment to me at the valued rate or cancel the MoU altogether and not proceed with the sale. My questions: Can I just wait for the MoU to expire on 21 May without doing anything? Would this cancel the MoU automatically if it's reached expiration? Can the seller sue me and get the 10% deposit cheque amount? What would you suggest I do in this case?

Q: Hello, Legal Advice ME I am writing to seek your advice on my ongoing process of buying an apartment. I have signed contract F, which is valid until 15 Aug 2024. My plan was to buy it financed by a mortgage. I got my pre-approval and signed the contract, then passed it to the agency to complete all needed paperwork. The agency took over with the bank, and then I found out that the apartment, although not a hotel, is listed as a hotel apartment on the title deed. The bank said processing this would take a very long time. I applied with a different bank, again all pre-approved, but as soon as they found out about the property type stated on the title deed, they said they cannot finance it. My questions are: - If the first bank is unable to process all the paperwork on time, will the contract be automatically canceled? - Can I cancel the contract based on the fact that I was not made aware of the property type stated on the title deed before signing the contract? Would I get the 10% deposit back?

Q: Dear Sir/Madam, I am a registered broker, and due to some system issues, I'm unable to log in to my broker application. I kept calling the land department, but nobody responded in time. This is why I couldn't extend the MOU, and it expires on Sunday. Will it still be valid on the next working day for transfer if both parties mutually agree? Secondly, how can I activate it if I'm unable to access Dubai Rest? And is activation still required if it expires one day before the transfer?

Q: Dear Lawyers, The validity of an MOU ends with the property purchase. Will the conditions specified in the MOU remain valid after the deal is closed?

Q: We have an MOU which states the extension will be ‘thirty (15)’ days. Which date is valid? Fifteen or thirty? It says this in both English and Arabic. We approved an extension request, but did not get a new MOU, and do not see it on any website. Is the 30-day extension automatic, so we won’t get a new document?

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 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.