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Agreement To Sell Real Estate Contract

Agreement To Sell Real Estate Contract Template for United Arab Emirates

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Key Requirements PROMPT example:

Agreement To Sell Real Estate Contract

"I need an Agreement To Sell Real Estate Contract for a luxury residential villa in Dubai Marina, with completion scheduled for March 2025, including provisions for existing tenant rights and staged payment terms."

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Document background
The Agreement To Sell Real Estate Contract is a fundamental legal document used in the United Arab Emirates for property transactions. It serves as the primary instrument for documenting the terms and conditions of real estate sales, ensuring compliance with UAE federal laws and emirate-specific regulations. This document is essential when transferring property ownership in the UAE, whether for residential, commercial, or investment purposes. The agreement must conform to specific requirements set by regulatory bodies such as the Real Estate Regulatory Agency (RERA) and various Land Departments across the UAE. It includes crucial elements such as property details, payment terms, warranties, and completion procedures, while addressing UAE-specific considerations such as foreign ownership restrictions and property registration requirements. The document is designed to protect both parties' interests while ensuring the transaction meets all local legal and regulatory requirements.
Suggested Sections

1. Parties: Identification of seller and purchaser with full legal names and details as per UAE requirements

2. Background: Context of the transaction and brief property description

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

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

5. Purchase Price: Statement of the purchase price and payment structure including deposit terms

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

7. Completion: Completion date, requirements, and mechanics of transfer

8. Seller's Warranties: Warranties regarding property ownership, condition, and encumbrances

9. Buyer's Warranties: Warranties regarding capacity to purchase and fund availability

10. Registration and Transfer: Process for property registration and transfer at the relevant land department

11. Costs and Fees: Allocation of transaction costs, registration fees, and broker commissions

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

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

14. Notices: Process for serving notices between parties

15. Execution: Signature blocks and execution requirements

Optional Sections

1. Condition Precedents: Used when completion is subject to specific conditions being met

2. Mortgage Requirements: Include when purchase is subject to mortgage financing

3. Property Management: Required when property is part of managed development with service charges

4. Tenancy Provisions: Include when property is sold with existing tenants

5. Foreign Ownership: Required for non-UAE national purchasers

6. Power of Attorney: Include when any party is acting through an attorney

7. Broker Provisions: Required when real estate brokers are involved in the transaction

8. Handover Procedures: For new properties or those requiring specific handover arrangements

Suggested Schedules

1. Property Schedule: Detailed property specifications, floor plans, and title information

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

3. Completion Requirements: Checklist of documents required for completion

4. Property Condition Report: Current condition of property and any agreed repairs

5. Existing Tenancy Documents: Copies of current lease agreements if applicable

6. Service Charge Schedule: Details of service charges and management fees

7. Due Diligence Documents: List of property documentation provided by seller

8. Form of Transfer Instruments: Templates of required transfer documents

Authors

Alex Denne

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

alex.den.21@genieai.co
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Relevant Industries

Real Estate

Banking and Finance

Construction

Property Development

Legal Services

Investment Management

Hospitality

Retail

Commercial Property

Residential Property

Relevant Teams

Legal

Real Estate

Compliance

Property Management

Sales

Business Development

Investment

Operations

Finance

Risk Management

Relevant Roles

Real Estate Agent

Property Manager

Legal Counsel

Compliance Officer

Real Estate Director

Investment Manager

Property Developer

Contract Manager

Real Estate Transaction Specialist

Corporate Lawyer

Chief Legal Officer

Property Investment Advisor

Real Estate Portfolio Manager

Business Development Manager

Sales Director

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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