Change in ownership of property

Change in ownership of property is a standard procedure, which in the Arab Emirates requires compliance with legislative norms. The applicant can perform all the steps on his/her own, for which he/she will have to collect a package of necessary documents:

1. Notarized agreement of sale. The form is required if the new owner of the property has obtained ownership rights through purchase, gift, etc. The parties must necessarily conclude an agreement where they define the terms of the transaction.
2. Transfer of property rights. The process is organized through the Department of Land and Property Relations or the UAE Chamber of Notaries.
3. Payment of fees, taxes. The change of ownership of the property implies payment of mandatory payments. Also check the timeliness of payment of property tax, etc.
4. Updating of documents. The new owner applies for renewal of documents related to real estate, property transferred to him by right of sale, gift, lease, etc.

After all steps have been completed, the new owner notifies the companies that provide services to the property, such as utilities, etc., of the changes. Notifications must be submitted in the manner prescribed by law. Violation of the rules may result in a fine. Also to the general requirements may be added the need to inspect the property, transfer of keys (equipment, materials).

NBS Services offers to undertake all stages of the procedure for changing the owner of the property. The assistance of specialists will allow you to avoid mistakes and achieve the desired result in the shortest possible time.