Dubai has a modern and rapidly evolving real estate market where investors, buyers and other stakeholders are facilitated in myriad ways. It is regulated by the Dubai Land Department (DLD), which further elevates convenience by offering various in-person and online services. For instance, DLD has authorised service providers to offer the department’s property registration trustee service. The offices of real estate registration trustees can be found across the emirate, serving customers even after DLD’s working hours.
Let’s find out more about the role and importance of a registration trustee for property in Dubai.
What is a Registration Trustee for Property in Dubai?
The real estate registration trustee service was launched by DLD in 2012. The service was introduced to accelerate the process of buying property in Dubai. DLD-certified agencies, which are spread across the city, provide the registration trustee service. These property registration trustees serve as intermediaries in real estate transactions, facilitating buyers, sellers and other stakeholders.
What is the Purpose of a Trustee in Property Registration?
The property registration trustee service plays a crucial role in a particular transaction. From transaction verification and finalisation to mortgage registration in Dubai, its purpose varies from case to case. Here’s how trustees facilitate different scenarios.
Property Transfer Process
A registration trustee for property in Dubai helps safeguard the rights and interests of the stakeholders involved. With their expertise and industry knowledge, a trustee takes care of all the due diligence in property purchase. Once the investor picks the desired property, the MoU or sales agreement is signed with the trustee as a witness.
Property Sales Registration
Registration trustees for property can assist you every step of the way. For those who are looking for some guidance on selling property in Dubai, trustees can give the necessary assistance.
All you have to do is submit the required property paperwork to the staff at the trustee’s office. They will go through and verify all the property sales documents and offer their assistance if need be.
Mortgage Registration
Real estate registration trustees also assist with the registration of different types of mortgages in Dubai. As proof of mortgage, a letter from the concerned bank should be submitted to the trustee’s office. Bank-approved mortgage contracts signed by all stakeholders are also required to initiate mortgage registration.
For Dubai residents, an Emirates ID copy is required, whereas a tourist or visitor must present a valid passport. For the process to be carried out online, an Electronic No Objection Certificate (eNOC) is used. The eNOC is issued by the developer of the project and is required for off-plan projects and freehold properties. If someone else is present on behalf of the property owner, a power of attorney would also be required.
Transferring the Title Deed
A Title Deed is required to legalise a property transfer. With the help of real estate registration trustee offices, a Title Deed process can be expedited. For Title Deed application in Dubai, important documents required include:
- Letter from the transferor (person or entity)
- Owner’s Emirates ID
- Passport for non-residents
- Trade licence for commercial business
The ownership and Title Deed transfer service also extends to gifted and granted properties. However, the DLD has a dedicated granted property registration process that should be followed.
Property Blocking
Real estate registration trustee service providers can also help with property blocking. This facilitates property buyers and investors buying a mortgage property in Dubai. By blocking the property, the buyer prohibits the seller or developer from selling the property to any other party. This applies when the mortgage is in process.
The property registration trustee cost for property blocking is a certain percentage of the selling price depending on its market value.
What is the Registration Trustee Fee in Dubai?
Regarding property registration trustee charges, the buyer pays 10% of the property price as the security deposit. This amount is refunded upon the completion of the transaction. This is to secure the investment in a particular real estate transaction. All the services of real estate trustees are in line with the DLD requirements.
The property registration trustee charges for sales registration vary according to property value. The charges are AED 2,000 for properties less than AED 500,000 and AED 4000 for properties priced over AED 500,000.
Real Estate Registration Trustee Offices in Dubai
With a No Objection Certificate and other required documents, one must contact a trustee to complete the property registration process. The DLD-certified real estate registration trustee offices are located all around Dubai. Let’s list some of the prominent ones with their addresses, timings and contact details.
Tamleek Real Estate Registration Trustee
- Address: Emaar Square Building # 2, Level G, Office G03, Dubai
- Contact: +971 4 425 6666
- Website: http://www.tamleekpt.ae/
- Timings: Monday to Sunday – 7:30 am to 4:30 pm | Saturday and Sunday – Closed
Approved Property Registration Trustees
- Address: D89, Deira, Dubai
- Contact: +971 4 228 1818
- Timings: Monday to Thursday & Saturday – 8:00 am to 4:00 pm | Friday – 8:00 am to 11:00 pm | Sunday Closed
Fast Track Real Estate Registration Trustees
- Address: Office # 102, Al Attar Business Centre, Al Barsha 1, Burj Khalifa Road (former Sheikh Zayed Rd)
- Contact: +971 4 392 9023
- Website: http://fast-track.ae/
- Timings: Monday to Thursday & Saturday – 8:00 am to 4:00 pm | Friday – 8:00 am to 12:00 pm | Sunday Closed
FAQs
Is an Emirates ID copy enough for property transfer registration at the trustee office?
An Emirates ID has to be paired with other essential documents in case of property transfer registration. Moreover, for non-residents, a valid passport is required in place of an Emirates ID.
How much does a trustee charge in Dubai property transactions?
Property registration trustee fee depends on the nature of the transaction. It may also vary according to the market value of the property and the transactional amount involved.
What is the Registration Trustee Fee in Dubai?
Buyers pay 10% of the property price as a refundable security deposit, with all trustee services following DLD regulations.
The property registration trustee charges for sales registration vary according to property value. The charges are AED 2,000 for properties less than AED 500,000 and AED 4000 for properties priced over AED 500,000.
This was everything to know about the importance and role of a property registration trustee in Dubai. In addition to trustee-associated costs, there are several other DLD registration fees and payment methods that real estate stakeholders should know about.
The know-how of all the aforementioned technicalities adds to the convenience of those buying a property in Dubai. However, some processes may vary from emirate to emirate.
For more information on the purpose of a property registration trustee in the UAE, keep reading dubizzle’s property blog.
