A unit owner in a Jointly Owned Real Property has the legal right to sell or dispose of their unit in any legal manner. This right includes the ability to mortgage the unit to any bank or financing institution that is licensed to operate within the…
A unit owner in a Jointly Owned Real Property has the legal right to sell or dispose of their unit in any legal manner. This right includes the ability to mortgage the unit to any bank or financing institution that is licensed to operate within the Emirate of Dubai. However, any sale or disposition must include the undivided interest in the Common Parts and the designated car parks. The transaction is only considered legally effective once it is recorded in the permanent Real Property Register at the DLD.
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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