Jeddah - Amlak
100 real estate professionals are participating in the first specialized training course in Jeddah on securing real estate rights, with the aim of preserving the huge Saudi real estate market, the size of which is 322 billion riyals, the largest in the Gulf and Arab region, in light of the complexities that cast a shadow on real estate transactions, especially in legal aspects due to the multiple types of transactions, whether through ownership, leasing, sale or purchase.
Lawyer Khaled Abu Rashid, Vice President of the International Justice Organization in Paris and an accredited arbitrator at the Ministry of Justice, said: The course aims to preserve the real estate wealth, and will review the developments that necessitated the creation of new mechanisms in these transactions, which requires knowledge of the legal provisions about each process taken by real estate companies and offices to ensure the safety of the procedures. He explained that the course also aims to clarify all types of real estate rights.
He added that the regulations governing real estate transactions in the Kingdom will be discussed, such as: Deposit, sale and its proof, evidence, multiple discharges and emerging rights, rent “contracts and errors arising”, contracting, contracts and issues arising from them, partnerships in real estate, their proof and rights, competent judicial procedures and enforcement agencies, as well as mechanisms to ensure rights in real estate transactions, in addition to mechanisms to guarantee rights in real estate transactions. He pointed out that the meeting reviews the basics of leasing, the rights of the landlord and the rights of the tenant, in addition to leasing contracts. and the rights of the tenant, in addition to lease contracts and their types, common mistakes, and the contact points in case of any issues between landlords and tenants.
Lawyer Abu Rashid revealed in a number of previous meetings that the majority of disputes or cases in the judicial authorities are caused by ambiguity, lack of clarity or deficiency in the drafting of some contract clauses, which constitute approximately 40 percent of all contracts that have been traded; resulting in the loss of rights and loss.
