Dubai is a haven for investors. Particularly, the emirate’s real estate sector amasses attention from around the globe. Besides architectural brilliance, strong implementation of law and streamlined processes make Dubai an ideal destination for investors. The success is greatly owed to the Dubai Land Department (DLD). The leading authority has everything in place regarding real estate processes. The DLD’s facilitations are not only for sole ownership properties but also extend to the jointly-owned ones. For any jointly owned property in Dubai, the department brings numerous services under one roof. We have compiled a list of jointly owned property services by DLD.
Jointly Owned Property Services by DLD
Joint or fractional ownership in Dubai refers to properties owned by multiple parties. The distinct ownership allows all parties to benefit from the investment. Additionally, owners with fractional shares gain access to the facilities available in the project.
However, there are several processes associated with this type of ownership. Concerned parties can fortunately find all these under one roof. Detailed below are the Dubai Land Department joint ownership property services.
Approval of Service Fees and Utilisation Fees Application
The details for this service are as follows:
SERVICE DESCRIPTION
This service allows concerned parties to apply for service and utilisation fee approval for jointly-owned properties in Dubai. This is done through the Mollak system in Dubai.
REQUIRED DOCUMENTS
- A detailed statement of the yearly budget for the service allowance of the development.
- Proposals and evaluating tenders with a minimum of 3 tenders from each service provider. All this should be done by the terms and conditions of the Real Estate Regulatory Authority (RERA).
- Copies of maintenance, management, insurance, service contracts, consumption bills for water, electricity, central air conditioning and main complex fees.
- A copy of the external financial audit report from a RERA Dubai accredited financial auditor.
SERVICE FEES
None
SERVICE CHANNELS
Dubai Land Department website (Mollak system).
SERVICE TIME
25 minutes.
Approval for Opening a Private Bank Account for the Joint Ownership Property
The details for this service are as follows:
SERVICE DESCRIPTION
The service allows individuals to seek approval from DLD for opening a private bank against a jointly-owned property.
REQUIRED DOCUMENTS
None
SERVICE FEES
None
SERVICE CHANNELS
Dubai Land Department website (Mollak system).
SERVICE TIME
5 minutes.
Register a Real Estate Company Application For Practising Administrative Supervision Services of Joint Ownership Properties
The details for this service are listed below:
SERVICE DESCRIPTION
Applicants can use the Mollak system to apply for real estate company registration to practise supervision services for jointly-owned properties.
REQUIRED DOCUMENTS
- The company – a company logo image.
- Company director – a personal photo.
- Owners affairs manager – a personal photo, an experience certificate with a minimum of 3-year financial management experience.
- Finance manager – a personal photo, an experience certificate with a minimum of 3 years in the maintenance field or facility management.
SERVICE FEES
This DLD service is free of charge.
SERVICE CHANNELS
Dubai Land Department website (Mollak system).
SERVICE TIME
5 minutes.
Register Employees Having Professional Competence in the Management of Joint Ownership Properties Application
This is also one of the jointly owned property services by DLD. The service details are as follows:
SERVICE DESCRIPTION
Concerned parties can apply for registering employees with professional competence in joint property management.
REQUIRED DOCUMENTS
- Owner’s affair executive, owner’s affairs manager, owner’s affair’s executive – a personal photo.
- Accountant, account supervisor, senior accountant – a personal photo.
- Facilities Manager, quality manager, HSE manager, facilities supervisor, quality controller, HSE inspector, HSE supervisor – a personal photo
- Compliance executive officer, compliance officer, assistant compliance officer – a personal photo.
SERVICE FEES
None
SERVICE CHANNELS
Official Dubai Land Department website (Mollak system).
SERVICE TIME
5 minutes.
Registering the Owners Association Application
The details for these services are listed below:
SERVICE DESCRIPTION
Applicants can request to be a member of the owner’s association for registering an owner’s association.
REQUIRED DOCUMENTS
For real estate companies:
- A personal photo of the real estate unit’s owner.
- An electronic approval for approving a declaration of following the guidelines of the Real Estate Owners Association members.
- A copy of a trade licence for a unit in favour of a commercial company.
- A copy of the DEWA invoice in favour of the real estate unit’s owner.
- In case of issuing a trade licence owned by the same owner in the property’s title deed – one copy of each of the tenancy contract detail certificate (Ejari) and the leaser company’s trade licence.
For Owners
- A personal photo
- An electronic approval for approving a declaration of following the guidelines of the Real Estate Owners Association members.
SERVICE FEES
None
SERVICE CHANNELS
- For real estate companies – Dubai Land Department website (Mollak system).
- For owners: Dubai Rest app
SERVICE TIME
25 minutes.
Request Approval to Transfer the Escrow Account from Its Current Bank to Another Financial Institution
Listed below are the details for this service.
SERVICE DESCRIPTION
Customers can request approval to transfer the escrow account from the existing bank to another for a jointly-owned property.
REQUIRED DOCUMENTS
None
SERVICE FEES
The service is free of charge.
SERVICE CHANNELS
The official DLD website (Mollak system)
SERVICE TIME
1 business day.
Request Approval for Issuing No Objection Letter to Close the Project Escrow Account
The details for this service are as follows:
SERVICE DESCRIPTION
Customers can seek approval for recovery of the project guarantee amount.
REQUIRED DOCUMENTS
- A non-objection letter from the property management company.
- A certificate confirming the project’s completion.
SERVICE FEES
None
SERVICE CHANNELS
The official email of the jointly owned property.
SERVICE TIME
3 business days.
Request Approval to Accredit Authorised Signatories on the Escrow Account
Listed below are the details for this service.
SERVICE DESCRIPTION
Customers can seek approval to accredit an authorised signature for the development’s escrow account.
REQUIRED DOCUMENTS
Company licence.
SERVICE FEES
The service is free of charge.
SERVICE CHANNELS
Regulations Department (will be available in the Mollak system soon)
SERVICE TIME
1 business day.
Request to Appoint a Financial Auditor With Specific Responsibilities and Tasks
Here are the details of this service.
SERVICE DESCRIPTION
Through this service, customers can seek approval to appoint a financial auditor. The appointed person can conduct different types of audits as per the owner committee’s request.
REQUIRED DOCUMENTS
None
SERVICE FEES
None
SERVICE CHANNELS
The official DLD website (Mollak system)
SERVICE TIME
1 business day.
Request Approval to Appoint An Audit Office for Auditing the Financial Accounts of a Jointly Owned Property
The service details are as follows:
SERVICE DESCRIPTION
Customers can seek approval to appoint a financial auditor to audit the financial accounts of the jointly owned property.
REQUIRED DOCUMENTS
None
SERVICE FEES
None
SERVICE CHANNELS
The official DLD website (Mollak system).
SERVICE TIME
1 business day.
Request Approval For Appointing an Audit Office to Conduct an Audit of the Budget for the Services Allowance or the Usage Allowance of a Joint Property
The service details are as follows:
SERVICE DESCRIPTION
Customers can request approval to appoint a financial auditor to audit joint property’s yearly budgets.
REQUIRED DOCUMENTS
None
SERVICE FEES
None
SERVICE CHANNELS
The official DLD website (Mollak system).
SERVICE TIME
1 business day.
Approval / Renewal of a Financial Auditing Company Application
The service details are as follows:
SERVICE DESCRIPTION
With this service, customers can request the approval/renewal of a financial auditing company application.
REQUIRED DOCUMENTS
- Auditor office registration certificate
- Licence requirements
- Employee qualifications and details
SERVICE FEES
AED 50,000
SERVICE CHANNELS
The official email of the jointly owned property.
SERVICE TIME
8 business days.
Visit the official DLD services page and click on the Jointly-Owned Property Services tab. Each of the aforementioned DLD joint property management services can be accessed from there. However, be sure to read the terms and conditions to avoid any sort of inconvenience.
FAQs
How to Register Jointly-Owned Properties in Dubai?
DLD has a streamlined system for this service. Here’s the process of registering jointly-owned properties in Dubai for your better understanding.
Are There Any Jointly Owned Property Services by DLD?
DLD has a range of services related to jointly owned properties available on its official website. Go to the DLD property services page to proceed further with any of the processes.
Can Two People Buy a House Together in Dubai?
Yes, two or more people can buy a property in Dubai. However, it is important to follow the protocols to ensure a hassle-free experience.
There you have it, a detailed list of the jointly owned property services by DLD in Dubai. The leading authority works relentlessly to ensure smooth real estate processes in the emirate. Initiatives like DLD Munaqasat service among many more continue to enhance the experience of all parties involved. Moreover, be wary of all the jointly-owned property laws in Dubai to avoid any legal conflicts.
Property choices are plenty for prospective buyers in Dubai. Browse through these properties for sale in Dubai to explore the available options.
Stay connected with dubizzle’s property blog to learn about joint ownership regulations in Dubai and other emirates.
