UAE real estate is one of the largest industries in the world. To cater to this huge industry, the UAE drafted rules and regulations covering all aspects of property transactions including property ownership transfer. Every Emirate has its own laws for property transfer to facilitate buyers. Speaking of Dubai, Dubai Land Department (DLD) governs all the legal processes related to property transfer.
However, the process of property transfer and sales can be confusing for first-timers. To exempt this confusion, here we have listed all the steps required to transfer property ownership in Dubai
How to Transfer Ownership of Property in Dubai
Following is the process for transferring property ownership in Dubai.
Step 1: Sign the Agreement of Sales
Prior to opting for transfer, buyers and sellers are required to sign an agreement of sales and United Form F. These documents legalise the deal between both parties and also highlights all the terms and condition of sales to avoid any hassle in the future.
Step 2: Request Property Valuation
Owners are required to request property valuation in Dubai of the unit they are selling. The valuation process helps in identifying the actual market value of the unit. Moreover, it also helps in securing mortgages and gauging the investment return on the property.
Step 3: Clear Finances
After the property valuation, buyers are required to clear their finances. Buyers with cash in hand, have to submit the bank cheque for the required amount and continue the process. However, if the buyer is seeking a mortgage in Dubai, final approval from the bank, a liability letter and clearance documents are required to seize the deal.
During the process, buyers are liable to update sellers regarding the progress and time required to acquire approval from the bank.
Step 4: Acquire NOC
Property owners are liable to acquire a NOC from the developer or building authorities prior to selling the unit. The letter ensures that all the dues and charges have been paid by the seller and the new owner will not be liable for any dues.
Step 6: Request Ownership Transfer
The above-mentioned are all the steps required to be completed before opting for property transfer in Dubai. For property ownership transfer, complete the following process:
- Visit the Customer Happiness Centre (Main Office) in Dubai.
- Submit the required documents mentioned below.
- Pay the charges of property transfer and receive the receipt.
- The title deed and map will be sent via email to the customer.
Documents Required for Property Ownership Transfer
The required documents to transfer property ownership in Dubai are listed below:
- Letter from the transferor
- Landlord’s Emirates ID Card or power of attorney (if the owner is not present in person)
- Passport copies of co-owners (for expats only)
- Commercial licence (for companies only)
Service Charges of Property Ownership Transfer
Here is a list of service charges for property ownership transfer in Dubai.
- For each title deed, AED 250 is charged.
- AED 100 as a land map fee (if the property is not in the jurisdiction of Dubai Municipality).
- For the unified map with Dubai Municipality, AED 325 will be charged.
- AED 250 for the apartment and villa map.
- AED 10 for the knowledge fee
- AED 10 for the innovation fee.
This was the complete process required to transfer property ownership in Dubai. Government initiatives and the vision of Digital Dubai digitalize the process, which aids in the convenience of buyers and sellers. This creates a significant positive impact on Dubai’s property market. If you are also interested in availing of these benefits, browse through these properties for sale in Dubai and invest in real estate.
In case you are new to the industry, these useful real estate apps in Dubai can help you.
FAQs
Do I have to pay a transfer fee when transferring property to a family member?
Yes, there is a property ownership transfer fee in Dubai, even when transferring to a family member.
Can I transfer the ownership of an off-plan property?
Yes, off-plan properties can be transferred from one person to another.
Are there any fees associated with transferring property ownership in Dubai?
The property transfer fee in Dubai is 4% of the sale price or market value, typically split between the buyer and seller.
What documents are required for transferring property ownership in Dubai?
The documents required for property ownership transfer in Dubai include a letter from the transferor, Emirates ID or power of attorney, passport copies of co-owners (for expats) and a commercial license (for companies).
What is a property exchange in Dubai?
A property exchange in Dubai allows property owners to exchange ownership of granted land based on a letter from Dubai Municipality.
Stay tuned to UAE’s top property blog for more information on how to transfer property in Dubai.
