Registering Property Purchased From A Dubai Property Developer
Property purchased from a Dubai property developer requires to be registered at the
office of Real Estate Regulatory Authority (RERA) following well-documented guidelines. Usually, a property developer would himself help in registering the property in the name of the purchaser. However, there are times when the purchaser might wish to oversee the process in person or appoint a registered broker as a buying agent to help in the act. Since ultimately it is the purchaser who has the highest stake, it is prudent to know of the requirements and documents necessary for registering a property purchased from a Dubai property developer.
An Individual Registering Property Purchased From a Dubai Property Developer
An individual registering in his or her name property purchased from a Dubai property developer requires producing the following documents before the registering authority:
Original ownership certificate or contract certificate issued for the developer
Duly attested copy of the contract signed between the developer and the purchaser, along with a copy of the master community declaration, and articles of association of landlords society (if any)
Letter from the developer requesting the authorities to register the property in name of the purchaser and bearing the full name of the purchaser for the purpose of identification
A copy of valid passport, or in case of local nationals, a copy of the national ID card
If a registered agent is handling the registration then a copy of duly attested power of attorney stating the powers conferred upon the agent to act as attorney for the purchaser and register the same at the department in the name of and on behalf of the purchaser
Before sending a property document for registration, and usually before or at the time of paying consideration money, it is prudent to organize all these documents and whatever is necessary to be obtained from the property developer for proper and immediate registration of the purchase.
A Free Zone Company Registering Property Purchased From a Dubai Property Developer
A free zone company registering property purchased from a Dubai property developer requires the following documents for presenting before the registering authorities:
Original certificate of property ownership or contract
Certificate of trade license issued from the free zone competent authority
Incorporation certificate issued from the free zone authority
Certificate of stocks stating shares owned by each partner
Copies of the company's memorandum of association and its articles of association
A copy of the decision issued from the competent administrative authority in the company concerning purchase/ sale of the property and for registering the same in the name of the company
The power of attorney duly authenticated by the Companies Registrar authorizing the company's representative (agent or nominee) to purchase/ or sell the property and register the same at the department in the name of the company
Copy of the agent's passport
For non-locals, the usual status for registering a property is either as an individual or as a free-zone company. In case the purchaser is a locally incorporated company, the requirements are similar in case of property purchased from a Dubai property developer.
by: Faheen Khan
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