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Unit Transfer Agreement

Unit Transfer Agreement Template for United Arab Emirates

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Key Requirements PROMPT example:

Unit Transfer Agreement

I need a Unit Transfer Agreement for a luxury apartment in Dubai Marina, transferring from a corporate entity to an individual buyer, with completion scheduled for March 2025 and including provisions for existing tenant rights.

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Document background
The Unit Transfer Agreement is a crucial document in UAE real estate transactions, used when transferring ownership of residential, commercial, or mixed-use property units. This agreement is essential for both off-plan and completed properties, ensuring compliance with UAE federal laws and emirate-specific regulations, particularly in major markets like Dubai and Abu Dhabi. The document typically includes comprehensive details about the property, parties involved, consideration, payment terms, warranties, and registration requirements. It serves as the primary instrument for documenting property transfers and must align with requirements set by relevant authorities such as the Real Estate Regulatory Authority (RERA) in Dubai or the Department of Municipalities and Transport in Abu Dhabi. The agreement is particularly important given the UAE's strict property registration and transfer procedures, and its contents must reflect current regulatory requirements for property transactions.
Suggested Sections

1. Parties: Identification of the Transferor and Transferee, including full legal names, Emirates ID/passport numbers, and contact details

2. Background: Context of the transfer, including property ownership history and reason for transfer

3. Definitions: Key terms used throughout the agreement, including Property, Transfer Date, Consideration, etc.

4. Subject Matter of Transfer: Detailed description of the unit being transferred, including unit number, floor, building name, project details, and area

5. Consideration and Payment Terms: Purchase price, payment schedule, and method of payment

6. Completion and Transfer Procedures: Steps for completing the transfer, including registration requirements and timing

7. Representations and Warranties: Statements and guarantees from both parties regarding their capacity, authority, and property status

8. Handover: Process and conditions for physical handover of the unit

9. Costs and Fees: Allocation of transfer fees, registration fees, and other associated costs

10. Notices: Method and addresses for formal communications between parties

11. Governing Law and Jurisdiction: Confirmation of UAE law application and relevant courts

12. Execution: Signature blocks and execution requirements

Optional Sections

1. Condition of Property: Used for completed properties to detail the current state and any defects

2. Service Charge Provisions: Required when transferring units in managed communities with service charges

3. Mortgage Details: Included when the property is subject to an existing mortgage or new financing

4. Construction Completion: Required for off-plan properties to address completion timelines and conditions

5. Defect Liability: Used for new properties to address warranty periods and defect remediation

6. Car Parking Allocation: Needed when parking spaces are included in the transfer

7. Third Party Consents: Required when developer or authority approvals are needed for transfer

8. Broker Provisions: Included when real estate brokers are involved in the transaction

Suggested Schedules

1. Property Details Schedule: Detailed technical description of the unit, including floor plans and specifications

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

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

4. Handover Inventory: List of fixtures, fittings, and items included in the transfer

5. Service Charge Statement: Current status of service charges and any outstanding amounts

6. Required Approvals: List of necessary regulatory and developer approvals

7. Property Photos: Current photographs of the unit (for completed properties)

8. Developer's Documentation: Relevant developer certificates and approvals

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


















































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Relevant Industries

Real Estate

Property Development

Construction

Banking & Finance

Legal Services

Property Management

Investment & Asset Management

Hospitality

Retail

Commercial Property

Relevant Teams

Legal

Real Estate

Compliance

Property Management

Asset Management

Operations

Investment

Sales

Contract Administration

Risk Management

Relevant Roles

Real Estate Manager

Property Lawyer

Legal Counsel

Compliance Officer

Property Development Manager

Asset Manager

Real Estate Broker

Property Administrator

Contract Manager

Transaction Manager

Investment Manager

Property Registration Officer

Real Estate Partner

Conveyancing Manager

Property Portfolio 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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