The Property Law Thread

BinALAin · February 1st, 2006, 07:59 AM

The Dubai government is expected to announce the new property law this month, the final copy of which awaits the Ruler's approval, said a senior government official.

The new law is expected to allow a combination of 99-year renewable lease and freehold rights in limited locations in Dubai.

This will be followed by a decree that will regulate the freehold market for expatriates and limit it to certain projects being developed by a handful of developers.

"The proposed law is in final shape and is awaiting the signature of His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to become a law," Mohammad Sultan Thani, director development and marketing administration in the Dubai Lands Department, told Gulf News yesterday.

"We expect the new law to be approved anytime following the mourning period that ends in the second week of February.

"Once the new law is issued, Dubai Land Department will facilitate the registration of freehold properties in the name of respective owners.

"Foreign property owners will then have title deeds registered by us in their names. They will then be able to sell these to others on their own and the Land Department will facilitate the transfers and issue new title deeds to the new owners."

He said, the Land Department will publish booklets on the fee structure on transactions and step-by-step guide on registering properties, inheritance, mortgage and change of ownership of properties for the expatriates once the new law is issued.

Currently, Emaar Properties, Nakheel and Dubai Properties are the only three mandated master developers allowed to offer freehold properties.

More than 13,000 expatriate families have already moved into new freehold homes whose ownership will be formalised through the registration process, to be initiated by the master developers. Of the 13,000 homes, Emaar delivered more than 12,800.

Currently, homeowner rights are guided by an agreement between the buyers and developers who extend a government guarantee on the ownership of property.

The new law offers a broad guideline to regulate the emirate's real estate market that witnessed explosive growth in 2003-2005 period.

"The new law also has provison for collective ownership and community responsibilities, especially linked to the large towers where each apartment owner also owns a part of the land," Thani said.

http://gulfnews.com/business/Real_Es.../10015666.html

docc · February 1st, 2006, 10:28 AM

Its about time...

Towers · February 1st, 2006, 08:41 PM

but this doesn't apply to the deira side, only the new areas west of bur dubai

dubaiflo · February 1st, 2006, 08:53 PM

this only applies to certain freehold areas which are all masterplanned by Emaar/nakheel or DH at the moment.

Towers · February 1st, 2006, 10:38 PM

Quote:

Originally Posted by dubaiflo

this only applies to certain freehold areas which are all masterplanned by Emaar/nakheel or DH at the moment.

lol that was a joke

Towers · February 11th, 2006, 12:47 AM

still dont get it

dubaiflo · February 11th, 2006, 01:26 AM

i do of course. but you said this just so straightforward i wasn't sure.

Krazy · February 17th, 2006, 07:53 PM

the mourning period is over... how long do we have to wait?

i can't wait to see Sports city apartment prices hike up within a matter of days !

DUBAI · February 17th, 2006, 08:05 PM

I think apartment prices will go down if anything.

most of them hve been sold under the premise of 'freehold'

kano · February 18th, 2006, 03:37 PM

I am a Lawyer.... and do property Law in my office...its not going to make much difference between Freehold and Leasehold ....When it comes to apartments.... it's just in the mind....and freehold just sounds better.....when it comes to apartments.......especially if its going to be 99 years leasehold......

kano · February 18th, 2006, 03:40 PM

I have not come across many freehold aapartments in the UK...only ones are the old flying freeholds....ie freeholds flats over shops etc.....problem with these in the UK is that you have difficulties getting mortgages....anyways with leaseholds they will be clauses of renewals.....

DUBAI · February 18th, 2006, 08:03 PM

which is why half of london is fucked.

all being owned by one greedy fucker.

...why cant al quida kill him insted of innocent civilians????

DUBAI · February 19th, 2006, 03:48 PM

Quote:

Originally Posted by DUBAI

which is why half of london is fucked.

all being owned by one greedy fucker.

...why cant al quida kill him insted of innocent civilians????

That wasnt me, it was posted by my friend while i was in the shower.....

I spent all morning searching SSCUAE to find it

Krazy · February 19th, 2006, 08:50 PM

smussuw · March 14th, 2006, 05:03 PM

Mohammed issues real estate register law

Mar 14, 2006 - 05:38 -

Dubai, Mar.14th,2006 (WAM) -- H.H. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister, has issued in his capacity as Ruler of Dubai, law No. (7) for 2006 for registration of properties in the Emirate of Dubai.

The 29-article law gives the right of ownership of properties in the Emirate to UAE nationals, GCC nationals and companies wholly owned by them and public joint stock companies.

''Upon approval of the Ruler, non-nationals may be given the right to own a property in some parts in the Emirate on a free-hold basis, to usufruct or rent for a period not exceeding 99 years,'' the law states.

Under the law, a real estate register shall be set up at the Dubai Lands and Properties Department.The data recorded in the register shall have indisputable legal title unless in cases of forgery.

According to the law, a multi-storey property shall be dealt with as one unit in the register.

The 11-chapter legislation defines the ppowers and functions of the Department, procedures for registration, alteration and correction of data on the register.

WAM/TF 17 38 CCCCQQE

THE DUBAI GUYS · March 14th, 2006, 05:32 PM

R

dubaiflo · March 14th, 2006, 06:47 PM

does it apply as of now?

docc · March 14th, 2006, 09:09 PM

99 years? I thought some properties were going to be fully freehold as in for life. Was i grossly mistaken?

Dubai-Lover · March 14th, 2006, 10:46 PM

yuppie duppie yah

now, i guess we will see the market growing very very soon

smussuw · March 14th, 2006, 10:52 PM

^ 99 is for life dont u think?

seriously, I didnt expect this 99 year. Do u think that it would effect the investments? I mean I wouldnt buy a house knowing that it wouldnt go to my children after I die.

What do u think guys?

February 1st, 2006, 07:59 AM	#1
BinALAin Me No English Join Date: Jul 2005 Location: "Son of ALAin", United Arab Emirates Posts: 378 Likes (Received): 0	The Property Law Thread The Dubai government is expected to announce the new property law this month, the final copy of which awaits the Ruler's approval, said a senior government official. The new law is expected to allow a combination of 99-year renewable lease and freehold rights in limited locations in Dubai. This will be followed by a decree that will regulate the freehold market for expatriates and limit it to certain projects being developed by a handful of developers. "The proposed law is in final shape and is awaiting the signature of His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to become a law," Mohammad Sultan Thani, director development and marketing administration in the Dubai Lands Department, told Gulf News yesterday. "We expect the new law to be approved anytime following the mourning period that ends in the second week of February. "Once the new law is issued, Dubai Land Department will facilitate the registration of freehold properties in the name of respective owners. "Foreign property owners will then have title deeds registered by us in their names. They will then be able to sell these to others on their own and the Land Department will facilitate the transfers and issue new title deeds to the new owners." He said, the Land Department will publish booklets on the fee structure on transactions and step-by-step guide on registering properties, inheritance, mortgage and change of ownership of properties for the expatriates once the new law is issued. Currently, Emaar Properties, Nakheel and Dubai Properties are the only three mandated master developers allowed to offer freehold properties. More than 13,000 expatriate families have already moved into new freehold homes whose ownership will be formalised through the registration process, to be initiated by the master developers. Of the 13,000 homes, Emaar delivered more than 12,800. Currently, homeowner rights are guided by an agreement between the buyers and developers who extend a government guarantee on the ownership of property. The new law offers a broad guideline to regulate the emirate's real estate market that witnessed explosive growth in 2003-2005 period. "The new law also has provison for collective ownership and community responsibilities, especially linked to the large towers where each apartment owner also owns a part of the land," Thani said. http://gulfnews.com/business/Real_Es.../10015666.html __________________ "The word ‘impossible' is not in leaders' dictionaries. No matter how big the challenges, strong faith, determination and resolve will overcome them." Dubai Ruler and UAE Minister of Defence, Sheikh Mohammed bin Rashid Al Maktoum

February 1st, 2006, 08:53 PM	#4
dubaiflo visit my homepage Join Date: Jan 2005 Location: Munich \| Dubai \| London Posts: 15,864 Likes (Received): 3	this only applies to certain freehold areas which are all masterplanned by Emaar/nakheel or DH at the moment. __________________ DJ Flore - Producer and DJ My Photoblog - Urban \| Event \| Nature \| Portrait Grapevine Grooves - Independent House Music Label Dubai - The Megaprojects - The Video (Version 3 cancelled due to credit crunch)

February 11th, 2006, 01:26 AM	#7
dubaiflo visit my homepage Join Date: Jan 2005 Location: Munich \| Dubai \| London Posts: 15,864 Likes (Received): 3	i do of course. but you said this just so straightforward i wasn't sure. __________________ DJ Flore - Producer and DJ My Photoblog - Urban \| Event \| Nature \| Portrait Grapevine Grooves - Independent House Music Label Dubai - The Megaprojects - The Video (Version 3 cancelled due to credit crunch)

February 17th, 2006, 07:53 PM	#8
Krazy Kool Kat Join Date: Apr 2004 Location: Austin, TX Posts: 13,625 Likes (Received): 8	the mourning period is over... how long do we have to wait? i can't wait to see Sports city apartment prices hike up within a matter of days ! __________________ Save Dubai's Workers! Click here and sign the petition!

February 17th, 2006, 08:05 PM	#9
DUBAI Under the Burj Join Date: Aug 2004 Location: Where the sun shines weakley Posts: 4,303 Likes (Received): 0	I think apartment prices will go down if anything. most of them hve been sold under the premise of 'freehold' __________________ "Don't criticize what you can't understand" -Bob Dylan

February 1st, 2006, 10:28 AM	#2
docc Registered User Join Date: Jun 2004 Location: Dubai Posts: 2,825 Likes (Received): 0	Its about time...

February 1st, 2006, 08:41 PM	#3
Towers BANNED Join Date: Jan 2006 Posts: 352 Likes (Received): 1	but this doesn't apply to the deira side, only the new areas west of bur dubai

February 11th, 2006, 12:47 AM	#6
Towers BANNED Join Date: Jan 2006 Posts: 352 Likes (Received): 1	still dont get it

February 18th, 2006, 03:37 PM	#10
kano Registered User Join Date: Dec 2005 Posts: 659 Likes (Received): 0	I am a Lawyer.... and do property Law in my office...its not going to make much difference between Freehold and Leasehold ....When it comes to apartments.... it's just in the mind....and freehold just sounds better.....when it comes to apartments.......especially if its going to be 99 years leasehold......

February 18th, 2006, 03:40 PM	#11
kano Registered User Join Date: Dec 2005 Posts: 659 Likes (Received): 0	I have not come across many freehold aapartments in the UK...only ones are the old flying freeholds....ie freeholds flats over shops etc.....problem with these in the UK is that you have difficulties getting mortgages....anyways with leaseholds they will be clauses of renewals.....

February 18th, 2006, 08:03 PM	#12
DUBAI Under the Burj Join Date: Aug 2004 Location: Where the sun shines weakley Posts: 4,303 Likes (Received): 0	which is why half of london is fucked. all being owned by one greedy fucker. ...why cant al quida kill him insted of innocent civilians???? __________________ "Don't criticize what you can't understand" -Bob Dylan

February 19th, 2006, 08:50 PM	#14
Krazy Kool Kat Join Date: Apr 2004 Location: Austin, TX Posts: 13,625 Likes (Received): 8	__________________ Save Dubai's Workers! Click here and sign the petition!

March 14th, 2006, 05:03 PM	#15
smussuw Patriotic Emirati Join Date: Feb 2004 Location: Dubai Posts: 7,332 Likes (Received): 3	The Property Law Thread Mohammed issues real estate register law Mar 14, 2006 - 05:38 - Dubai, Mar.14th,2006 (WAM) -- H.H. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister, has issued in his capacity as Ruler of Dubai, law No. (7) for 2006 for registration of properties in the Emirate of Dubai. The 29-article law gives the right of ownership of properties in the Emirate to UAE nationals, GCC nationals and companies wholly owned by them and public joint stock companies. ''Upon approval of the Ruler, non-nationals may be given the right to own a property in some parts in the Emirate on a free-hold basis, to usufruct or rent for a period not exceeding 99 years,'' the law states. Under the law, a real estate register shall be set up at the Dubai Lands and Properties Department.The data recorded in the register shall have indisputable legal title unless in cases of forgery. According to the law, a multi-storey property shall be dealt with as one unit in the register. The 11-chapter legislation defines the ppowers and functions of the Department, procedures for registration, alteration and correction of data on the register. WAM/TF 17 38 CCCCQQE

March 14th, 2006, 05:32 PM	#16
THE DUBAI GUYS Ruff 'n' Ready Join Date: Aug 2004 Location: Dubai City, Dubai Posts: 3,597 Likes (Received): 2	R

March 14th, 2006, 06:47 PM	#17
dubaiflo visit my homepage Join Date: Jan 2005 Location: Munich \| Dubai \| London Posts: 15,864 Likes (Received): 3	does it apply as of now? __________________ DJ Flore - Producer and DJ My Photoblog - Urban \| Event \| Nature \| Portrait Grapevine Grooves - Independent House Music Label Dubai - The Megaprojects - The Video (Version 3 cancelled due to credit crunch)

March 14th, 2006, 09:09 PM	#18
docc Registered User Join Date: Jun 2004 Location: Dubai Posts: 2,825 Likes (Received): 0	99 years? I thought some properties were going to be fully freehold as in for life. Was i grossly mistaken?

March 14th, 2006, 10:46 PM	#19
Dubai-Lover Construction Paradise Join Date: Jul 2004 Location: Dubai (UAE) \| Oehringen (GER) \| Bad Honnef (GER) Posts: 12,677 Likes (Received): 2	yuppie duppie yah now, i guess we will see the market growing very very soon __________________ Updates - Dubai on Emporis

March 14th, 2006, 10:52 PM	#20
smussuw Patriotic Emirati Join Date: Feb 2004 Location: Dubai Posts: 7,332 Likes (Received): 3	^ 99 is for life dont u think? seriously, I didnt expect this 99 year. Do u think that it would effect the investments? I mean I wouldnt buy a house knowing that it wouldnt go to my children after I die. What do u think guys?

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