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Lot Sale Contract

Lot Sale Contract Template for United Arab Emirates

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Key Requirements PROMPT example:

Lot Sale Contract

"I need a Lot Sale Contract for a commercial property development in Dubai, where the buyer must commence construction by March 2025 and complete within 24 months, with specific requirements for a retail complex including minimum build specifications and height restrictions."

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Document background
The Lot Sale Contract is a crucial legal document used in the United Arab Emirates for transferring ownership of land or lots from one party to another. This contract type is essential for both residential and commercial property transactions in the UAE, requiring careful consideration of federal and emirate-specific real estate laws. The document is typically used when selling undeveloped land, plots within master developments, or subdivided lots, and must comply with UAE's strict property registration requirements and foreign ownership restrictions. It includes comprehensive details about the property, payment terms, development restrictions, and completion procedures, while ensuring alignment with UAE Civil Code requirements and Real Estate Regulatory Agency (RERA) regulations.
Suggested Sections

1. Parties: Identification of the Seller and Buyer with full legal names, addresses, and registration details if companies

2. Background: Context of the sale and brief description of the property being sold

3. Definitions: Key terms used throughout the agreement defined for clarity

4. Property Details: Comprehensive description of the lot including plot number, size, location, and boundaries

5. Purchase Price: Agreed purchase price and payment structure including deposit requirements

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

7. Completion: Conditions for completion, timing, and completion process

8. Title and Registration: Confirmation of title, warranties, and registration requirements

9. Seller's Obligations: All obligations of the seller including delivery of documents and clearance of encumbrances

10. Buyer's Obligations: All obligations of the buyer including payment and registration requirements

11. Representations and Warranties: Standard representations and warranties from both parties

12. Default and Termination: Consequences of default and termination rights

13. Governing Law and Jurisdiction: Confirmation of UAE law application and jurisdiction

Optional Sections

1. Development Obligations: Used when the lot is part of a development project with specific building requirements or restrictions

2. Conditions Precedent: Include when completion is subject to specific conditions being met

3. Foreign Ownership: Required when the buyer is a foreign national or entity, addressing specific requirements

4. Mortgage Requirements: Include when the purchase involves mortgage financing

5. Service Charges: Required when the lot is part of a managed development with ongoing service charges

6. Construction Timeline: Include when there are specific construction or development deadlines to be met

7. Environmental Conditions: Used when there are specific environmental considerations or requirements

8. Assignment Rights: Include when either party needs specific rights to assign the contract

Suggested Schedules

1. Property Plan: Detailed plan showing the lot boundaries and location

2. Payment Schedule: Detailed breakdown of payment installments and due dates

3. Title Documents: Copies of relevant title documents and certificates

4. Property Specifications: Detailed specifications of the lot including dimensions and permitted use

5. Development Guidelines: Any applicable development guidelines or restrictions

6. Due Diligence Reports: Results of any surveys, soil tests, or other technical reports

7. Required Permits: List of permits required for development or construction

8. Registration Documents: Forms and documents required for property registration

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

Property Development

Banking & Finance

Legal Services

Investment & Asset Management

Urban Planning

Commercial Property

Residential Property

Infrastructure Development

Relevant Teams

Legal

Real Estate

Compliance

Property Development

Sales

Finance

Operations

Risk Management

Business Development

Land Acquisition

Relevant Roles

Real Estate Manager

Property Developer

Legal Counsel

Compliance Officer

Real Estate Agent

Property Investment Manager

Development Director

Land Acquisition Manager

Contract Manager

Real Estate Operations Manager

Property Rights Specialist

Transaction Manager

Real Estate Finance Manager

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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