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Building Purchase Contract

Building Purchase Contract Template for United Arab Emirates

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Key Requirements PROMPT example:

Building Purchase Contract

"I need a Building Purchase Contract for acquiring a commercial warehouse in Dubai Industrial City, with completion scheduled for March 2025, including specific provisions for existing tenant arrangements and service contracts."

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Document background
The Building Purchase Contract is a fundamental legal document used in the United Arab Emirates for property transactions involving completed buildings. This contract type is essential for both residential and commercial property transfers, ensuring compliance with UAE federal laws and specific emirate regulations. It's particularly important in a jurisdiction where property laws can vary significantly between emirates and where foreign ownership restrictions may apply. The document encompasses all necessary elements for a valid property transfer, including detailed property descriptions, payment structures, warranties, and completion procedures. The Building Purchase Contract must align with UAE Civil Code requirements, Land Department regulations, and relevant property registration laws, making it a crucial tool for protecting both buyers' and sellers' interests in UAE real estate transactions.
Suggested Sections

1. Parties: Identification of the Seller and Buyer, including full legal names, Emirates ID numbers, and contact details

2. Background: Brief context of the transaction and confirmation of the Seller's ownership and authority to sell

3. Definitions: Definitions of key terms used throughout the agreement

4. Property Details: Comprehensive description of the property including location, size, title deed number, and registration details

5. Purchase Price: Agreed purchase price and payment structure, including deposit and completion payment details

6. Payment Terms: Detailed payment schedule, method of payment, and consequences of default

7. Conditions Precedent: Conditions that must be satisfied before completion, including property registration requirements

8. Completion: Process and requirements for completion of the sale, including documentation and registration

9. Seller's Warranties: Warranties regarding property ownership, condition, and absence of encumbrances

10. Buyer's Warranties: Warranties regarding ability to purchase and comply with payment obligations

11. Transfer of Ownership: Process and requirements for transferring ownership at the relevant land department

12. Costs and Fees: Allocation of transaction costs, registration fees, and other expenses

13. Default and Termination: Consequences of default and circumstances allowing termination

14. Governing Law and Jurisdiction: Confirmation of UAE law application and jurisdiction for disputes

15. Notices: Process for serving formal notices between parties

16. General Provisions: Standard contractual provisions including entire agreement, amendments, and severability

Optional Sections

1. Mortgage Arrangements: Details of any mortgage financing, required when buyer is obtaining bank financing

2. Condition of Property: Specific provisions regarding property condition and any required repairs, used when property requires renovation or has known issues

3. Vacant Possession: Terms regarding current occupancy and handover, required when property is currently tenanted

4. Service Charge Provisions: Details of service charges and payment responsibilities, needed for properties in managed communities

5. Developer Approval: Requirements for developer approval of transfer, needed in certain master developments

6. Foreign Ownership: Special provisions required when buyer is a foreign national, addressing ownership restrictions

7. Escrow Arrangements: Details of escrow account usage, required when payments are handled through escrow

8. Property Management: Arrangements for property management during transition, needed for commercial properties

Suggested Schedules

1. Schedule 1 - Property Details: Detailed property specification, floor plans, and boundary details

2. Schedule 2 - Title Documents: Copies of title deed and other ownership documents

3. Schedule 3 - Payment Schedule: Detailed breakdown of payment instalments and due dates

4. Schedule 4 - Property Inventory: List of fixtures, fittings, and contents included in the sale

5. Schedule 5 - Due Diligence Documents: Copies of building permits, certificates, and compliance documents

6. Appendix A - Property Photos: Recent photographs of the property's interior and exterior

7. Appendix B - Service Contracts: Details of ongoing service contracts affecting the property

8. Appendix C - NOCs and Permits: Copies of necessary No Objection Certificates and permits

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions








































Clauses






























Relevant Industries

Real Estate

Construction

Banking & Finance

Legal Services

Property Development

Property Management

Commercial Property

Residential Property

Investment & Asset Management

Professional Services

Relevant Teams

Legal

Real Estate

Compliance

Finance

Business Development

Property Management

Asset Management

Investment

Risk Management

Operations

Relevant Roles

Real Estate Manager

Property Lawyer

Legal Counsel

Real Estate Agent

Property Developer

Investment Manager

Asset Manager

Compliance Officer

Property Valuator

Real Estate Director

Contract Manager

Business Development Manager

Finance Manager

Property Portfolio Manager

Transaction Manager

Real Estate Consultant

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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