Abu Dhabi, the capital of the UAE, is a major attraction for people around the world. While Dubai holds the honour of being the most populous city in the Emirates, Abu Dhabi holds its value as the country’s capital. Abu Dhabi, like many cities of the Emirates, has advanced infrastructure and a great real estate market. People are inclined towards investing in the property market. The investment process involves frequent sales and purchases. It is therefore important to be aware of the process to transfer property ownership in Abu Dhabi.
Property transfers are not limited to investors. Individuals, who own properties in Abu Dhabi can also decide to sell their property. Transferring property ownership is an essential part of the property buying or selling process. Let’s get to the details and learn how to transfer property ownership in Abu Dhabi.
Transfer Property Ownership
The Abu Dhabi property market is a flourishing one and more people are looking to gain healthy returns on their investments. People sell their properties for various reasons like moving to a new place, a new city, job change, and financial barriers to name a few.
While the property market can be intriguing for many reasons, it is essential to fulfil all formalities of the buying and selling process. This can ensure a smooth process and you can avoid any conflicts with the law. The property deal is incomplete without the transfer of property ownership.
How to Transfer Property Ownership in Abu Dhabi
As per the new law, all real estate transactions should be recorded at the Abu Dhabi Land Department (LRD). Transactions not recorded at the LRD are not enforceable even if the parties have come to an agreement. For a smooth transfer of property ownership in Abu Dhabi, recording of transactions is compulsory.
The LRD requires the presence of all concerned parties such as the seller, buyer, mortgagee and real estate broker. This is important to ensure the registration and approval of the sales contract. However, if any of the parties could not visit, a power of attorney can be executed in the presence of a notary in Abu Dhabi.
In addition to the documents required at TAMM which are listed below, LRD may ask for some additional documents depending on the nature of the transaction. For a property owner transfer in a master community, LRD can ask for a non-objection certificate from the master developer. Non-objections certificates are only issued when there are no withstanding service or community charges or breaches of community regulations.
If you want to transfer a plot that is to be developed, a non-objection certificate may be required from the Abu Dhabi Water and Electricity Authority, Department of Transportation and other relevant authorities.
Once the documents are submitted and the presence of concerned parties is assured, the application is processed. The process may complete on the same day or take a couple of days. Upon the completion of the process, LRD issues a title certificate to the seller.
In case of a mortgage over the property, the title deed is issued to the mortgagee. The fee can vary depending on the transaction amount. It can be between 1 to 4% of the transaction value.
TRANSFER PROPERTY OWNERSHIP IN ABU DHABI ONLINE
The Abu Dhabi government has provided formidable options to ensure smooth and hassle-free procedure to transfer property ownership in Abu Dhabi. As the Tawtheeq System oversees the registration of rental contracts and landlord and tenant rights in Abu Dhabi, TAMM provides digital access to various government services.
TAMM serves as a one-stop contact portal for many services and can save you time and trips to government centres. You can also file an application to transfer property ownership in Abu Dhabi by visiting the related government centres.
TRANSFER PROPERTY OWNERSHIP THROUGH TAMM
When applying for a transfer of property ownership through TAMM, you must have an account. The account can be created on the TAMM website. Once you have registered on the website, visit the change property ownership page and complete the form.
THE PROCESS
- You need to submit the application through the available channels
- All the required information must be entered in the application form. Incomplete forms and misleading information can lead to disqualification
- Once you have submitted the form with complete information, you will receive a reference number for your application
Generally, three working days are required for the application to be processed.
REQUIRED DOCUMENTS
The following documents are required by TAMM for your application to transfer property ownership in Abu Dhabi:
- Economic licence for the business sector
- Emirates ID for individuals
- Land plan which must have been issued within the last six months
- Last reading for Metre Certificate
- Official letter issued by the owner
- Ownership deed
- Power of attorney in case an agent submits request on behalf of the owner
This was everything you needed to know about how to transfer property ownership in Abu Dhabi. UAE is known for its growing property market and the capital city is a major attraction. If you are interested in buying a property as a foreigner, you should be aware of the Abu Dhabi property laws for ex-pats. Additionally, the balcony rules in Abu Dhabi along with others can help you get the best out of your staying experience.
Want to get a taste of living in the Emirate’s capital city? Check out the following:
- Apartment for rent in Abu Dhabi
- Apartment for sale in Abu Dhabi
- House for rent in Abu Dhabi
- House for sale in Abu Dhabi
- Villa compound for rent in Abu Dhabi
Stay tuned to UAE’s top property blog for more information on the real estate market.
