Property Transfer Procedures
Streamlined Property Transfer Procedures in Dubai for a Seamless Experience
1. Agreement on Sale Terms
Begin by agreeing on the sale terms, including the price and payment schedule. A Memorandum of Understanding (MOU) or Sale Agreement is usually signed at this stage, outlining the details of the transaction.
2. Obtain a No Objection Certificate (NOC)
The seller needs to obtain a No Objection Certificate (NOC) from the bank if the property is mortgaged. This paperwork ensures a smooth transfer of ownership and confirms the bank's lack of objections to the property transfer. The transfer process may be delayed and problematic if a NOC is not obtained.
3. Property Valuation
DLD-approved valuers must appraise the property before the transfer is finalized. This stage is essential for figuring out the transfer fees owing to the DLD and assessing the property's fair market value.
4. Transfer of Ownership
To formally transfer property ownership, both parties must visit the Dubai Land Department after finalizing the value.The buyer pays the purchase price, and the seller receives the agreed-upon amount. The DLD simultaneously updates its records to reflect the change of ownership.
5. Title Deed Issuance
The DLD issues a title deed in the buyer's name upon completion of the ownership transfer. Important details about the property, like its location, size, and ownership information, are included in the title deed, which serves as official documentation of ownership. A link for the title deed and the map will be sent via email to the customer.
The required documents to transfer property ownership in Dubai are listed below:
1- A letter from a transferor either person or entity
2- The UAE ID of the owner or an official power of attorney from the owner in case it is not present in person
3- Copies of valid passports for owners (non-residents)
4- Trade licenses for companies (companies only)
6. Final Steps
Make sure the property is vacated and turned over as agreed upon after the transfer, and that utility accounts are updated.
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