According to Article (15), if an emergency prevents the completion of a project, the Escrow Agent must consult with the DLD to take protective measures. Their primary goal is to preserve the rights of depositors. This may involve ensuring the comple…
According to Article (15), if an emergency prevents the completion of a project, the Escrow Agent must consult with the DLD to take protective measures. Their primary goal is to preserve the rights of depositors. This may involve ensuring the completion of the project through other means or managing the refund of payments to the purchasers. This emergency provision acts as a safety net for investors, ensuring their capital is not lost if the developer becomes insolvent.
This is general information from the website library. Confirm current rules, fees and property details with the relevant authority before acting.
Ali Faizan Syed’s knowledge centre
Ask Ali about this question · Explore published properties · Browse all questions