Dubai—Agencies
The Dubai Land Department announced, the launch of standardized real estate contracts that clarify the relationship between the seller and the buyer, as well as between the broker and each of the two main parties to the transaction. These forms will become mandatory effective May 1, 2014.
This initiative, announced in Dubai for the first time, serves as a safeguard to protect the rights of the three parties in any real estate transaction: the seller, the buyer, and the broker. This measure will help facilitate and expedite sales and purchases in the real estate market, particularly as it allows for easy and convenient completion of registration procedures without the need to engage a transaction clearing agent.
The contracts will be available on the «E-MART» website (http://www.emart.gov.ae) / ( where three templates will be available to users: the Standard Contract, which is a contract between the seller and the buyer (F); the Seller-Broker Contract (A); and the Buyer-Broker Contract (B).
