������Ƶ

The Residential Real Estate Purchase Agreement is a crucial legal instrument used in the United Arab Emirates for documenting and executing the sale and purchase of residential properties. This document is essential for any residential property transaction in the UAE, whether involving local or foreign buyers, and must comply with both federal laws and specific emirate-level regulations. It serves as the primary contract between sellers and buyers, detailing all aspects of the property transfer, including purchase price, payment terms, property specifications, and handover conditions. The agreement must align with UAE Civil Code requirements, relevant property laws, and registration procedures of the respective emirate's land department. It also needs to accommodate various payment methods, including conventional and Islamic financing options, while considering foreign ownership restrictions in certain areas.

1. Parties: Identification of buyer and seller with full legal names, Emirates ID numbers, passport numbers, and contact details as required by UAE law

2. Background: Context of the transaction, including brief property description and parties' intention to enter into sale/purchase agreement

3. Definitions: Key terms used throughout the agreement, including specific UAE real estate terminology

4. Property Details: Comprehensive description of the property including title deed number, registration details, exact location, size, and any associated parking or storage units

5. Purchase Price: Total purchase price, currency, and detailed payment schedule in compliance with UAE regulations

6. Payment Terms: Specific payment mechanisms, installment details, and escrow arrangements as per UAE law

7. Property Transfer: Process and requirements for transferring ownership through the relevant land department

8. Seller's Obligations: Responsibilities of the seller including property maintenance until handover and document provision

9. Buyer's Obligations: Responsibilities of the buyer including payment obligations and registration requirements

10. Warranties and Representations: Standard warranties from both parties regarding capacity, ownership, and authority to enter into the agreement

11. Handover: Procedures and conditions for property handover, including utilities transfer and key handover

12. Default and Termination: Consequences of default by either party and termination provisions as per UAE law

13. Notices: Communication procedures between parties and their representatives

14. Governing Law and Jurisdiction: Specification of UAE law as governing law and relevant emirate's courts' jurisdiction