Contract To Sell Land

Contract To Sell Land for United Arab Emirates

Contract To Sell Land Template for United Arab Emirates

A legally binding agreement governed by UAE law that facilitates the transfer of land ownership from a seller to a buyer. This document complies with UAE federal laws and emirate-specific regulations, incorporating all necessary elements required by UAE Civil Code and relevant property laws. It details the property specifications, purchase price, payment terms, completion requirements, and obligations of both parties, while ensuring compliance with local land department registration requirements and foreign ownership restrictions where applicable.

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What is a Contract To Sell Land?

The Contract To Sell Land is a crucial legal document used in the United Arab Emirates for transferring land ownership between parties. It is essential for any land transaction in the UAE and must comply with both federal laws and specific emirate regulations. This document is typically used when selling vacant land, development plots, or land with existing structures, and can be utilized for both commercial and residential purposes. The contract includes comprehensive details about the property, parties involved, payment terms, and completion requirements, while ensuring compliance with UAE Civil Code, real estate regulations, and foreign ownership restrictions. It serves as the primary agreement governing the rights and obligations of both seller and buyer throughout the transaction process, from initial agreement through to registration with the relevant land department.

What sections should be included in a Contract To Sell Land?

1. Parties: Identification of seller and buyer with full legal names, addresses, and documentation

2. Background: Context of the transaction and brief description of the parties' intentions

3. Definitions: Definitions of key terms used throughout the agreement

4. Property Details: Comprehensive description of the land including plot number, area, dimensions, and location

5. Purchase Price: Agreed purchase price and currency

6. Payment Terms: Structure and timeline of payments, including deposit and completion payment details

7. Completion: Requirements and process for completion of the sale

8. Seller's Warranties: Warranties regarding ownership, authority to sell, and property condition

9. Due Diligence: Buyer's right to conduct property investigations and related procedures

10. Title and Registration: Process for transfer of title and registration requirements

11. Costs and Taxes: Allocation of transaction costs, registration fees, and applicable taxes

12. Default and Termination: Consequences of default and circumstances allowing termination

13. Notices: Process and requirements for formal communications between parties

14. Governing Law and Jurisdiction: Specification of UAE law as governing law and relevant courts

What sections are optional to include in a Contract To Sell Land?

1. Conditions Precedent: Specific conditions that must be met before completion, used when there are prerequisite requirements

2. Mortgage Details: Required if the property has an existing mortgage or if buyer requires mortgage financing

3. Property Management: Needed if the property is part of a managed development with service charges

4. Tenant Rights: Required if the property is currently leased to tenants

5. Development Obligations: Necessary if the land is subject to development requirements or restrictions

6. Environmental Matters: Required if there are environmental considerations or requirements

7. Force Majeure: Optional clause dealing with unforeseen circumstances preventing completion

8. Broker Provisions: Required if real estate brokers are involved in the transaction

What schedules should be included in a Contract To Sell Land?

1. Property Plan: Detailed plan showing the land boundaries and dimensions

2. Title Documents: Copies of current title deed and other ownership documents

3. Payment Schedule: Detailed breakdown of payment installments and dates

4. Property Certificates: Relevant certificates including zoning and planning permissions

5. Due Diligence Documents: List of documents provided for buyer's due diligence

6. Form of Transfer: Template for the transfer document required by the land department

7. Encumbrances Schedule: Details of any existing encumbrances, easements, or restrictions

8. Development Requirements: Any specific development conditions or requirements attached to the land

Authors

Alex Denne

Head of Growth (Open Source Law) @ ��Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

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Real Estate Manager

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What is a Contract To Sell Land?

What sections should be included in a Contract To Sell Land?

What sections are optional to include in a Contract To Sell Land?

What schedules should be included in a Contract To Sell Land?

Authors

Alex Denne

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