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Dubai Real Estate for Beginners: Property Transfers

Searching the real estate market usually requires a lot of research and decision making skills. It becomes even tougher in lavish cities like Dubai. The journey can be exciting but it does come with its own unique challenges amidst which a beginner is left clueless.

One of the most important aspects of dealing with real estate in countries like UAE is understanding the process of property transfers.

Property transfer as per the regulations in Dubai refers to the legal process of transferring ownership of real estate from one party to another. This process is mainly governed by the Dubai Land Department (DLD) which is the official entity responsible for registering property transactions including property POA in Dubai and the entire emirates. Understanding this process is essential for ensuring a smooth and legally compliant transaction.

Key Steps for Property Transfer in Dubai

1. Initial Agreement: This process starts with the buyer and seller agreeing on the terms of the sale and signing a Memorandum of Understanding (MOU). This MOU consists of an outline related to conditions of sale like price, tenure, and any special terms. The MOU typically requires a deposit, which is a percentage of the sale price and ensures the commitment of the buyer. 

2. No Objection Certificate (NOC): In UAE, most settlements have been developed by construction giants or developers. Hence before beginning with property transfer, the seller must obtain an NOC from the developer. This certificate confirms that the developer has no objections to the sale. It is also a receipt that ensures the service charges and fees have been settled. NOC is a critical document for POA related procedures in Dubai and you must make sure the seller has one. 

3. Transfer Appointment: Once the NOC is obtained, both the parties ought to schedule a transfer appointment at the office of Dubai Land Department or a designated trustee office. This appointment is imperative to the property transfer. During the appointment, both parties must review and sign the transfer documents. This is to be done in the presence of a DLD representative.

4. Title Deed Issuance: After the payment is confirmed, the DLD usually issues a new title deed in the name of the buyer. This step officially completes the transfer of ownership. The new title deed is also an indispensable document as it proves ownership. It is also a must have for any future transactions involving the property.

Well, what real estate POA in UAE do you think would be untouched by extensive paperwork? Let’s have a closer look so that you are all set for the DLD appointment. 

Documentation Required

To ensure a smooth property transfer process, both the buyer and seller should prepare and present some documents before the DLD officials. Proper documentation is not only essential for compliance with rules and regulations but also helps avoid delays. 

For the Seller

  •  Original title deed
  •  Passport copy
  •  Emirates ID (if applicable)
  •  NOC from the developer
  •  Signed MOU

For the Buyer

  •  Passport copy
  •  Emirates ID (if applicable)
  •  Proof of payment
  •  Signed MOU

The Role of Power of Attorney (POA)

In most real estate transactions, especially those involving non-resident buyers or sellers, a Power of Attorney (POA) can be invaluable. A POA can be defined as a legal document that grants a third-person the authority to act on behalf of the buyer or seller. Property POA in Dubai is just the thing you need amidst the frenzy of the fast-moving real estate market to save time. 

Benefits of Using a POA

  • Convenience: If due to some preoccupations, a person is unable to be physically present in Dubai, POA comes to the rescue. Simply grant POA to a trusted individual and sit back carefree. 
  • Efficiency: POAs speed up the transaction process by allowing the agent to handle necessary tasks promptly. This is especially important in highly competitive markets like Dubai where scenarios change in the blink of an eye. Delays can result in losing a desirable property. The Dubai Economic Agenda 2033 (D33) aims to double the emirate’s economy in the next decade. The city is booming with business, so believe us, timing is paramount!
  • Flexibility: Enables investors to continue their business or personal activities without interruption. By delegating responsibilities to an agent, the principal can focus on other important things while making sure their real estate transactions proceed smoothly.

How to Obtain a Real Estate POA in Dubai

  1. Drafting the POA: Drafting the real estate POA is the first step, if you might have not guessed yet. Please consult a legal advisor for this task to avoid complications. A well-drafted POA should clearly outline the scope of the agent’s authority and any limitations.
  1. Notarization: The POA must be notarized by a public notary in Dubai. This step involves the principal and agent visiting the notary office with their identification documents. The notarization process adds a layer of legal validation to the POA.
  1. Attestation: If the principal is not in Dubai, the POA must be attested by the UAE embassy in their home country. This must be followed by attestation from the UAE Ministry of Foreign Affairs upon arrival in Dubai. For the POA to be enforceable in Dubai, attestation is a must. 
  1. Registration: So Finally, the POA should be registered with the DLD. To note, registration with DLD is only mandated for PROPERTY POA in Dubai. 

Practical Tips for Property Transfers in Dubai

  1. 1. Hire a Reputable Agent: Only a knowledgeable and experienced real estate agent can guide you through this extensive and sensitive process. 
  1. Understand the Fees: Before anything, cost calculation must be the utmost priority. Take a note of all the costs involved in the property transfer, including the DLD fees (typically 4% of the property value), the trustee fee, and any agent commissions if you did hire an agent. 
  1. Verify the Property: You must ensure that the property has no outstanding mortgages or legal issues before proceeding with the transfer. Conduction of a thorough scan for such anomalies cannot be compromised at all. 
  1. Timely Payments: Make all payments like service charges, NOC Fees etc. to avoid delays. You don’t want to let go of a desirable property, right?
  1. Legal Advice: Being a foreigner, please seek legal advice, especially for high-value transactions. A legal advisor will  help you trod through complex legal requirements.

Simplifying Your Property Transfer Journey with Mypoa

Understanding the intricacies of property transfers, from the initial agreement to the issuance of the title deed, is crucial for ensuring smooth and legally compliant transactions. Utilizing a Power of Attorney (POA) can offer significant benefits in terms of convenience, efficiency, and flexibility, especially in a fast-paced market like Dubai.

As you embark on your real estate journey, consider using a reliable service like MyPOA. At MyPOA, we simplify the process of obtaining a real estate POA in Dubai, making it easier for you to manage your property transactions. Our streamlined system allows you to order, pay, and notarize your POA without the hassle of visiting a typing center or notary public. Choose from our bronze, silver, or gold packages and receive your draft POA within 15 minutes of payment approval. We leverage the latest technology to ensure that the process is not only quick but also seamless, saving you time and stress.

Whether you are a local or a foreign investor, understanding the property transfer process and the benefits of a real estate POA in UAE is essential. With MyPOA, you can rest assured that your real estate transactions will be handled efficiently and professionally, allowing you to focus on what truly matters.

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Gold

Drafting and Remote e-Notarization
AED 1699
  • POA drafting - English and Arabic
  • Prepration in 8 working hours
  • Unlimited amendments
  • Unlimited free consultations
  • Inclusive of notary public fee for one (1) principal
  • Physical signing assistance at Notary Public in Dubai in 2-3 working days
  • E-notarization in 2 to 3 working days
Recommended

Silver

Drafting and Physical Notarization
AED 1299
  • POA drafting - English and Arabic
  • Prepration in 8 working hours
  • Unlimited amendments
  • Unlimited free consultations
  • Inclusive of notary public fee for one (1) principal
  • Physical signing assistance at Notary Public in Dubai in 2-3 working days
  • E-notarization in 2 to 3 working days

Bronze

Drafting service only
AED 699
  • POA drafting - English and Arabic
  • Prepration in 8 working hours
  • Unlimited amendments
  • Unlimited free consultations
  • Inclusive of notary public fee for one (1) principal
  • Physical signing assistance at Notary Public in Dubai in 2-3 working days
  • E-notarization in 2 to 3 working days