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Real Estate Contract Of Sale
"I need a Real Estate Contract of Sale for a residential villa in Dubai Marina, with a completion date of March 15, 2025, including provisions for existing tenant rights and a payment schedule split into three installments."
1. Parties: Identification of seller and purchaser with full legal names, Emirates ID numbers, and contact details as required by UAE law
2. Background: Context of the sale and confirmation of the seller's legal ownership and right to sell
3. Definitions: Key terms used throughout the agreement, including specific UAE real estate terminology
4. Property Details: Comprehensive description of the property including plot number, municipality number, and emirate location
5. Purchase Price: Total consideration and payment structure, including deposit requirements
6. Payment Terms: Detailed payment schedule, method of payment, and consequences of default
7. Completion: Conditions for completion, transfer process, and registration requirements with relevant authorities
8. Seller's Obligations: Pre-completion obligations, document provision, and property maintenance commitments
9. Purchaser's Obligations: Payment obligations, due diligence requirements, and completion responsibilities
10. Property Condition: Status of the property, any defects, and 'as is' provisions
11. Registration and Transfer: Process for property registration with the relevant land department
12. Representations and Warranties: Standard warranties about property ownership, encumbrances, and capacity to sell
13. Default and Termination: Consequences of breach and termination rights
14. Governing Law and Jurisdiction: Confirmation of UAE law application and relevant emirate's courts' jurisdiction
1. Islamic Finance Provisions: Required when the purchase involves Islamic financing or Sharia-compliant terms
2. Strata Title: Needed for apartments or units in multi-owner buildings
3. Service Charges: Required for properties in managed communities or buildings
4. Tenant Rights: Include if the property is sold with existing tenants
5. Development Obligations: Required for off-plan properties or properties under construction
6. Foreign Ownership: Include specific provisions when purchaser is a foreign national
7. Commercial Terms: Additional provisions for commercial property sales
8. VAT Provisions: Required for commercial properties or new residential properties subject to VAT
1. Property Description Schedule: Detailed technical description of the property including boundaries, area, and specifications
2. Payment Schedule: Detailed breakdown of payment installments and due dates
3. Title Documents: Copies of ownership documents and title deed
4. Property Plans: Floor plans, location maps, and approved drawings
5. Inventory Schedule: List of fixtures, fittings, and furniture included in the sale
6. Due Diligence Documents: Copies of permits, certificates, and compliance documents
7. Service Charge Schedule: Details of ongoing maintenance and service charges
8. Required Registrations: List of necessary registrations and approvals required for transfer
Authors
Real Estate
Property Development
Construction
Legal Services
Banking and Finance
Islamic Finance
Property Management
Hospitality
Retail
Commercial Property
Residential Property
Investment and Asset Management
Legal
Real Estate
Compliance
Property Management
Contracts Administration
Business Development
Investment
Asset Management
Risk Management
Operations
Finance
Corporate Services
Real Estate Lawyer
Property Manager
Real Estate Agent
Legal Counsel
Compliance Officer
Real Estate Director
Property Developer
Investment Manager
Asset Manager
Contract Manager
Real Estate Broker
Title Officer
Property Consultant
Legal Director
Chief Legal Officer
Real Estate Partner
Transaction Manager
Development Director
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