A real estate contract entails an agreement between two parties interested in the purchase and sale of real estate. The sale of the land is usually governed by the laws of the location. The contract should be in writing in order to make it enforceable. When parties enter into contracts, it is important that both parties (or all parties) have copies of the signed contract. Buying a property in Dubai requires a lot of research and background check in order to ensure that the paperwork is up to date and all the legal documentations are properly sanctioned by the Government. After the verification of all the legal documentation, the deal can be sealed. Hiring a law firm or a real estate lawyer can help you to do the legal check of the property and guide you through the process. He can also warn you about whether the property is beneficial for you or a bad investment.
There are several reasons why you may need to hire a real estate lawyer. There may be contractual disputes between the contractors or owners. They might help you to analyze the risks of the investments or help you to draft the legal contract.
Here are some of the reasons why you need a real estate lawyer in Dubai to make the process of purchasing or selling property easy and convenient:
Explain your legal rights
When buying or selling a property it is extremely crucial to understand the contract that you are about to sign. Before buying or selling a property you must be aware of all your rights and legal responsibilities. Your lawyer can educate you on all the contracts that need to be checked. They will also help you through the process and all the legal proceedings to buy or sell the property you are interested in.
Land Title Search
A legally binding contract must be signed between all the parties involved. Your lawyer will educate you on the history of the property- its owners, original owner of the property, its encroachment against the property. Hiring a real estate lawyer can save time and money and can protect you from any fraudulent activities that might happen.
Preparing Legal Contracts
Legal contracts need to be drafted in case you buy or sell a property. The clauses need to be properly drafted in order to ensure the ease of sale or purchase. Hiring experienced Dubai Lawyers like those found at bineidlawfirmuae.com will ensure that your interests are protected and all the terms and conditions of the agreement are properly drafted. This will allow you to make a safe sale or purchase without any contractual disputes coming up in the future.
Real Estate Disputes
It isn’t unusual that conflicts may arise in large commercial projects between developers, investors, or contractors. A lawyer can anticipate any future conflicts that may occur and address those issues very early in the discussion. This can ultimately help to avoid any future conflicts and the development process can run smoothly without any interruptions.
A real estate lawyer can help you to manage any kind of disputes related to the property if it occurs and advises you on how to proceed forward with the legal proceedings. It is always wise to hire reputable lawyers or law firms since they have the expertise and knowledge to deal with such multi-party cases and large projects. An experienced real estate lawyer can effectively provide all the necessary resolution required in the case.
Documentation is critical when it comes to buying or selling property in free zones as well as mainland properties. There are several aspects of a property that buyers need to be aware of in advance before purchasing it. An experienced lawyer can pre-select the areas that you are interested in, narrow down the search, and streamline the process. They can also guide you to understand the benefits of investing in the area or the land.
There are several legal formalities that need to be fulfilled after purchasing or selling the property. That includes filing the title deed with the Dubai Land Department. A lawyer can oversee all the legal filings so that you can move to the property with ease.
Tracking development opportunities
A real estate lawyer can help you to understand the area, and the types of businesses surrounding the property and can anticipate changes in the area. Return on investment is always an important factor to consider when it comes to purchasing land. These require extensive research and analysis. The next step requires finding the best developer, contractor, and investors so that you can coordinate and plan the development process. After developing the plan, you can move forward with the development process.
In such cases, an experienced real estate lawyer in Dubai can guide you through the entire process and can give you the legal support you require to finish the deal. That includes researching and doing risk analysis, as well as negotiating agreements with developers, and sub-contractors and developing the contracts for the project.
To conclude, it is essential to ensure that you’re dealing with the owner of the property. If it is not the real owner then you may face serious issues. This is where the role of your real estate lawyer is crucial because he can help you to identify the real owner of the property. According to Article 399 of the UAE Penal Code, if a person who signed the contract is not the real owner of the property it can be considered as fraud. So you must be extremely careful when you decide to purchase a property in Dubai.