Questions & Answers
Questions & Answers
3 available 3 • View allCan the buyer get the security deposit if backs out in a property purchase MOU?

3
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?


Nov 8, 2022
1724
How to protect my deposit if financing falls through?




1
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?





+1
Jul 7, 2024
172
Seller signed Form F but wants to withdraw. How to avoid 10% penalty?
2
Q: Dear Sir/Madam,
I am a seller. I have signed Form F, but now I want to back out.
What options do I have to avoid paying the 10% penalty?

Mar 20, 2024
589
Laws & Regulations
3 available 3 • View allLaw No. (13) of 2008 Regulating the Interim Property Register in the Emirate of Dubai 1
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.
Aug 14, 2008
4868
Law No. (9) of 2009 Amending Law No. (13) of 2008 Regulating the Interim Property Register in the Emirate of Dubai 2
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.
Apr 12, 2009
3146
Executive Council Resolution No. (6) of 2010 Approving the Implementing Bylaw of Law No. (13) of 2008 Regulating the Interim Property Register in the Emirate of Dubai 3
This Resolution approves the Implementing Bylaw of Law No. (13) of 2008 Regulating the Interim Property Register in the Emirate of Dubai.
Feb 14, 2010
5162

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