A beneficiary is authorised to mortgage Granted Land in favour of licensed banks or financing institutions in the Emirate. However, specific conditions must be met for the mortgage to be valid, such as using the loan to invest in or maintain the pro…
A beneficiary is authorised to mortgage Granted Land in favour of licensed banks or financing institutions in the Emirate. However, specific conditions must be met for the mortgage to be valid, such as using the loan to invest in or maintain the property for its granted purpose. For residential granted land, the loan must specifically target the construction or expansion of a building. These mortgages must be officially registered with the DLD to be legally effective and binding.
This is general information from the website library. Confirm current rules, fees and property details with the relevant authority before acting.
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