Questions & Answers
Questions & Answers
4 available 4 • View allSeller cleared mortgage late, bank declined disbursement - what to do?

1
Q: Dear all,
I am writing to you regarding a property sale breach of contract. I signed a Memorandum of Understanding (MOU) as the buyer of a mortgaged property in Dubai.
The purchase I am making is also through a mortgage. However, the seller only cleared the mortgage on the property he is selling to me after I received the final offer letter from the bank for the mortgage I applied for, based on the documents I submitted.
The seller signed the MOU to sell a mortgaged property and provided the documents to support this. However, my bank has declined the disbursement because the details have changed without prior notification or explanation.
In order to complete the transfer, I have to reapply for a mortgage. The seller has refused to extend the MOU, and a new title deed has to be issued according to the new details of the mortgage-free property.
How can I best deal with this situation, since the MOU has expired and everything was done on time from my side?
Thank you!


Aug 15, 2023
316
The seller decides not to sell the property after signing the MOU. What to do?

3
Q: Dear sir/madam,
I signed an MOU to purchase a property. The MOU was signed by the POA holder of the seller on hard paper. We have been following up with the seller agent and he was keeping us up to date for nearly a month that the NOC is in progress.
Last week when the MOU period expired, the agent informed us that the POA issuer has decided not to sell as he has another offer. I asked the agent about the MOU and the agent said MOU has no value as it is on paper and not in the Dubai Rest application.
Questions:
Can I enforce a paper-based MOU (Form F)? Or due to new rules, it is no longer valid and we made a mistake?
The MOU was for one month and it is about six weeks since we signed the MOU.
Appreciate any advice!


Oct 12, 2022
1443
Getting a deposit or compensation if the buyer backs out after signing the MOU




2
Q: Hello,
A buyer of my property has refused to proceed after signing the MOU. Form F indicates the penalty type as "NO."
Am I entitled to a deposit cheque or compensation?
I have already rejected other buyers and came to Dubai for the deal, but the buyer is not answering the phone.





+1
Dec 25, 2023
505
Can a buyer complain to RERA if the seller doesn’t pay the advance rental as per the MOU?

1
Q: Dear Lawyers,
Can a buyer of a property in Dubai file a complaint with RERA if the seller is not paying the advance rental received from the tenant (on a pro-rata basis) as per the MOU in the event of the sale of the property?


Aug 15, 2024
84
Laws & Regulations
1 available 1 • View allFederal Law No. (5) of 1985 On the Civil Transactions Law of the United Arab Emirates 96
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.
Dec 15, 1985
148582

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