All About Real Estate Laws In Dubai

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All About Real Estate Laws in Dubai
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WHY DUBAI

• Dubai is considered as the resort city of the
  Middle East due to its modern advancement in
  architectural structures and buildings.
• Due to all the above mentioned enhancements,
  buyers and investors from all over the world are
  taking interest to buy Dubai property.
• Due to this increase in demand, Dubai State
  Government has designed and implemented few Dubai
  property laws for real estate buyers and
  investors across the world.
• These rules and regulation address much legal
  issue related to selling, buying and owing Dubai
  property.

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Dubai Property Laws

• In order to make safe deals, buyers must know
  primary Dubai property laws.
• Getting a residential permit to live here does
  not allow foreigners to work here. Dubai property
  market used to be a fastest growing industry, but
  the recent global financial crisis affected the
  property development badly. Hence the prices
  fallen down.
• For buyers this is the best time to purchase a
  Dubai Property. In order to make successful
  purchase deal every buyer must know specific laws
  that talk about buying, ownership and selling of
  Dubai properties.
• There are three major Dubai property laws that
  every buyer or seller must understand.

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Three Major laws

• Real Estate Law Number 7
• This law reduces restriction on foreigners
  related to property ownership in Dubai.
• Inheritance property law
• A valid will that fulfil all the legal standards
  of UAE and Dubai is essentially required to
  assign estate to legal beneficiaries. In the
  absence of legal will, the court decides how a
  property should be divided among recipients or
  state will own that property.
• Rental Property law
• In this law, landlords are not allowed to
  increase rent. Rents can be raised when the lease
  finished and its time to renew it.

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Who all can buy property in Dubai?

• In early time period, buying an asset in this
  city used to be very complex process for foreign
  investors and buyers.
• A new Dubai property law was came into being
  which enables foreigners to free hold leases of
  Dubai property for unlimited time period.
• In specific areas, they got the permission to
  apply for 10 to 99 years leases. They are allowed
  to transfer their rights to other person.
• The buyers should get the approval from the
  ruling government, in order to possess freehold
  for properties in specific areas.

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Conclusion

•  Anyone who is going to sell, purchase or rent
  any kind of property must follow these Dubai
  property laws. This will help them to take full
  advantages of their assets in Dubai.
• For all the legal proceeding, its always better
  to consider a real estate lawyer in Dubai for
  safe dealings.
• For one of the best real estate lawyer in Dubai,
  visit https//www.alsaadiadvocates.com/practices/
  real-estate-lawyer