All About Real Estate Laws in Dubai

WHY DUBAI  Dubai is considered as the resort city of the Middle East due to its modern advancement in architectural structures and buildings.  Due to all the above mentioned enhancements, buyers and investors from all over the world are taking interest to buy Dubai property.  Due to this increase in demand, Dubai State Government has designed and implemented few Dubai property laws for real estate buyers and investors across the world.  These rules and regulation address much legal issue related to selling, buying and owing Dubai property.

Dubai Property Laws  In order to make safe deals, buyers must know primary Dubai property laws.  Getting a residential permit to live here does not allow foreigners to work here. Dubai property market used to be a fastest growing industry, but the recent global financial crisis affected the property development badly. Hence the prices fallen down.  For buyers this is the best time to purchase a Dubai Property. In order to make successful purchase deal every buyer must know specific laws that talk about buying, ownership and selling of Dubai properties.  There are three major Dubai property laws that every buyer or seller must understand.

Three Major laws  Real Estate Law Number 7  This law reduces restriction on foreigners related to property ownership in Dubai.  Inheritance property law  A valid will that fulfil all the legal standards of UAE and Dubai is essentially required to assign estate to legal beneficiaries. In the absence of legal will, the court decides how a property should be divided among recipients or state will own that property.  Rental Property law  In this law, landlords are not allowed to increase rent. Rents can be raised when the lease finished and it’s time to renew it.

Who all can buy property in Dubai?  In early time period, buying an asset in this city used to be very complex process for foreign investors and buyers.  A new Dubai property law was came into being which enables foreigners to free hold leases of Dubai property for unlimited time period.  In specific areas, they got the permission to apply for 10 to 99 years leases. They are allowed to transfer their rights to other person.  The buyers should get the approval from the ruling government, in order to possess freehold for properties in specific areas.

Conclusion  Anyone who is going to sell, purchase or rent any kind of property must follow these Dubai property laws. This will help them to take full advantages of their assets in Dubai.  For all the legal proceeding, its always better to consider a real estate lawyer in Dubai for safe dealings.real estate lawyer in Dubai  For one of the best real estate lawyer in Dubai, visit: estate-lawyer estate-lawyer