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: 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: 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: Dear Sir/Madam, I'm a buyer and came to the final stages of the process, all cheques have been issued and shared. I was pushing developers about NOC (the seller takes things very slowly), and they realized a big mistake in the documents, the Dubai Land Department gave us a Title Deed instead of a Pre-Title Deed. The bank prepared all cheques through that. Our MoU expires in a couple of days. We offer the seller to extend the MOU to provide documents. So whose fault is it? If the seller decides not to continue with the process and not renew the MoU, what would be my rights here? Can I get back my cheques and be covered by the seller legally? Thank you

Q: I signed an MOU for buying a property that is already evaluated and the mortgage paperwork was started by the bank. The seller found excuses for health issues to fulfill the signing required liability letter and buyout documents. The MOU will expire on 23/03/2024. I will request the seller to extend the MOU due to being non-collaborative in providing the documents. "Should this agreement be determined for a non-performance or negligence of any terms of this agreement by the seller, or for any reason attributable to the seller, the seller understands and agrees that the buyer has the right to obtain the security deposit amount. The buyer shall not be entitled to take any further recourse against the seller for any compensation of damages/losses that exceed this amount. The seller shall deliver copies of the SPA, floor plan, statement of service charges, and Title Deed. " If the seller refuses to extend the MOU, do I have any right to claim any compensation due to increased pricing on the market? T.

Q: Hello to all. We are purchasing a house with a home loan. We signed the MOU on 31/10 and unfortunately, it took the bank approximately 2 months to complete the whole process. Now the MOU has already expired and the seller is asking for an additional 10% security deposit as compensation for the delay. It is not our fault as we don't have control over the bank approvals. Can they do that? Are we protected from DLD in this matter as the property is under mortgage?   Thank you

Q: Hi, I need some guidance regarding a property transaction that is not progressing as expected. My broker initiated a manual Memorandum of Understanding (MOU) between me (the Buyer) and the Seller, with an expiry date of 01/02/2025. Within this period, I successfully arranged the bank mortgage, property evaluation, and NOC. However, the broker started giving excuses, such as the seller being hospitalized. Later, the broker attempted to arrange a Power of Attorney (POA). However, after that, they started ignoring my messages and calls. It now seems like they no longer intend to proceed with me, and the MOU has already expired. Meanwhile, my bank EMI has already started, and I have paid two monthly installments. The broker is still unresponsive. I have raised multiple complaints through DLD RVS against the broker, but the response has been very slow and unsatisfactory. I’m feeling stuck and financially burdened. Please advise

With the introduction of the new procedures for obtaining a power of attorney (POA) remotely in the UAE, after it was mandatory to appear in person in front of the notary public as a global rule to ensure the identity and intention of the person requesting a POA, we put between your hands this brief guide for how you get it done.

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.

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.