For its thriving real estate market and appealing lifestyle, Dubai is a favorite destination of foreigners who want to invest in property. Nevertheless, there are some legal issues expatriates buying properties in Dubai should be aware of. This blog post will discuss the legal aspects of property buying for expats in Dubai.
Ownership Laws:
Expatriates can purchase properties only within designated areas called freehold zones as per the law applicable in Dubai. These regions are meant to enable foreigners own property outright without needing any local sponsor’s support. It is important for these individuals to understand that there are different types of ownership laws and that they should ensure that they purchase property located within freehold zones to avoid any illegalities.
Verification of Title Deed:
Before making payments towards acquiring a property in Dubai, non-natives ought to verify authenticity and absence of liens on title deed (Dubai Land Department – Government of Dubai, 2014). It can be done by making a title deed search at the land department or hiring legal professionals to help with the process
Reviewing Contracts:
As an expat buyer in Dubai, you will have to sign a sales contract with your seller. Thus it is essential that you go through this agreement with caution and understand all its terms and conditions (Mugadza & Findlay-Shirras, 2017). Additionally, if there is anything not clear or disagreement arises from those documents buyers then indeed must seek professional advice before signing them.
Payment Terms:
Another thing expats need to consider when purchasing real estate in Dubai is payment terms (Khan et al., 2016). Usually, deposit guarantees the purchase while further payments occur either upon construction milestones or other specified stages agreed upon between parties involved (Vakil & Khan, 2017). Therefore, tenants must ascertain whether they can successfully meet the financial obligations before entering into such contracts.
Legal Help:
In Dubai’s property market, there is a strong suggestion that foreigners should seek advice from a legal expert so as to properly lead them through. An attorney specializing in real estate with deep knowledge of Dubai law on property will be helpful in avoiding inconveniences.
To summarize, expats planning to buy property in Dubai should know what they are getting themselves into legally. Understanding ownership laws, verifying title deeds, reviewing contracts, familiarizing with payment terms and seeking legal assistance are some of the key steps towards having a pleasant experience buying property in Dubai.
