A Mortgage is a contract where a creditor acquires a real right over a property or unit to secure a debt. This right gives the creditor preference over ordinary creditors for repayment from the property's price. A mortgage must be registered with th…
A Mortgage is a contract where a creditor acquires a real right over a property or unit to secure a debt. This right gives the creditor preference over ordinary creditors for repayment from the property's price. A mortgage must be registered with the DLD to come into effect. The law requires that the creditor-mortgagee be a bank or financial institution licensed by the UAE Central Bank. This legal framework provides security for lenders while enabling owners to finance their real estate investments through professional institutions.
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