property law Archives - Fichte & Co Legal

Everything You Need to Know about the New Joint Property Law

Dr. Laura Voda — Tue, 18 Feb 2020 09:36:15 +0000

Background and introduction Just recently, His Highness Sheikh Mohammed bin Rashid Al Maktoum Vice President and Prime Minister of the UAE issued Law No. (6) of 2019 pertaining to the Joint Ownership of Properties (Joint Ownership Law) in Dubai. This newly enacted law repeals Law No. (27) of 2007 concerning Jointly Owned Property in the …

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Will insurance cover damages by rain? UAE law firm clarifies

Fichte Legal — Tue, 14 Jan 2020 04:13:05 +0000

Residents have questions whether these damages are covered under the insurance as rains are caused by “intentional act” of cloud seeding. Damages to vehicles and properties caused by the ongoing record-breaking rain spell are generally covered under the UAE insurance policies unless it has been explicitly excluded in the agreement, legal experts have said. Sridhar …

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Property Disposition: Exemptions from Fines

Neelesh Pillai — Wed, 30 Oct 2019 03:00:24 +0000

Exemption from fines for non-registration of real estate dispositions and non-payment of the prescribed fees at the Dubai Land Department We have always seen changes made in the Dubai Real Estate Law which had attracted buyers and investors from all over the world to take interest in buying property in Dubai. The Dubai State Government …

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Property Ownership through Corporate Vehicles

Fichte Legal — Tue, 12 Mar 2019 07:53:02 +0000

The Dubai government has continually made changes to its real estate regulations, granting further flexibility for foreigners to own property in Dubai. Although there are still restrictions for foreign companies, there have been some developments over the past couple of years surrounding the types of UAE entities which are allowed to own property. The companies …

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8 Essential Issues to Consider Before Signing your Sale and Purchase Agreement – Dubai Property Laws

Fichte Legal — Mon, 27 Aug 2018 08:42:42 +0000

Purchasing off-plan property has become the new norm, with affordable prices and the increase in incentives being offered, purchasers are quick to jump on the bandwagon. The Dubai Law No. (8) of 2007 On the Matter of Escrow Accounts for Real Estate Development (“Escrow Law”) was issued for the purposes of safeguarding purchaser’s money after …

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News Update: FTA Publishes Real Estate Guide to VAT Law

Fichte Legal — Sun, 11 Mar 2018 07:30:33 +0000

The Federal Tax Authority (FTA) has published a number of guides on its website to further assist taxpayers to understand the VAT Law for Real Estate, and the Regulations. There have been a few legal issues surrounding the supply of real estate- concerning both commercial and residential properties. Despite the detailed provisions mentioned in the VAT …

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New MoU between Dubai Land Department and Dubai International Financial Centre

Fichte Legal — Sun, 05 Nov 2017 05:38:14 +0000

The Dubai Land Department (DLD) and the Dubai International Financial Centre (DIFC) entered into a Memorandum of Understanding (MOU) on May 4th 2017, allowing DIFC registered entities to purchase properties and register their properties with the DLD. The MOU stipulates certain “eligible entities” in the DIFC which can own property in Dubai. This covers companies, …

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Real Estate Property Rights and Musataha in the UAE

Fichte Legal — Wed, 26 Apr 2017 04:32:30 +0000

The real estate market in the UAE has boomed in the past couple of years and has become known for the developments of some of the largest projects in the world. Despite the property market boom, the laws have only slowly evolved protecting the interests of buyers and owners alike. Much of the UAE now …

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Navigating Lease Disputes in Dubai

Shehab Mamdouh — Sun, 05 Mar 2017 03:13:43 +0000

From rental prices to maintenance matters, renting a unit in Dubai continues to be a hot topic. Dubai’s lease system attempts to strike a balance between the rights, responsibilities, and interests of tenants and landlords. However, legal firms continue to see a number of cases involving disputes over tenancy agreements. Sadly, the process of resolving …

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DIFC Revises Freehold Transfer Fee

Fichte Legal — Tue, 01 Apr 2014 22:22:37 +0000

In order to address the International Monetary Fund’s (IMF) concerns about overinflated markets and to secure long term stability of the DIFC property market, the DIFC Authority announced a revised freehold transfer fee from 3.5% to 5%. The amendments came into effect on Tuesday 01 April 2014 to allow one week grace period for relevant …

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