Dubai Law and RERA
RERA, Real Estate Regulatory Authority, part of the Dubai Land Department is a nodal agency that formulates, regulates, manages and licenses various real estates related activities in Dubai. RERA was established in July 2007 by a decree of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE, and Ruler of Dubai.
RERA envisages a transparent and effective regulatory environment in which various entities pertaining to real estate can conduct their business. As part of this vision, RERA would like to create an online community and marketplace thus enabling various categories of stakeholders to interact and transact with each other and with RERA.
Department of Lands has a comprehensive set of applications to meet various business requirements and processes. These include GIS (Geographical Information System), Registration systems for Agents and developers, Parcel Locator, e-Mortgage and website providing basic information. Many of the applications are home-grown and provide rich business functionality. Land department applications are built around Microsoft and Oracle technologies. Server infrastructure is in-house deployed and managed.
RERA envisages a transparent and effective regulatory environment in which various entities.
Forms
Form A Broker’s Contract Agreement (Sellers Appointment)
Signing Parties: Agent and Seller
Purpose: A Signed Agreement between the Agent and the Owner authorising the Agent to Act.
Form A1 Extension of Broker Appointments by Seller
Signing Parties: Agent
Purpose: An extension permission from the Owner authorising a 30 day extension of Form A
Form A2 Notification of the Sale of Property
Signing Parties: Agent to Tenant
Purpose:
Advice notice to Tenant on the Sale of their tenanted property.
Form A3 Developers Stock Sales Advice
Signing Parties: Agent and Buyer
Purpose:
Data collection for RERA & Agent fee protection
Form B Buyer’s Agent Appointment
Signing Parties: Agent and Buyer
Purpose: A Signed Agreement between the Agent and the Buyer authorising the Agent to Act.
Form B1 Extension of Buyer's Agent Appointment
Signing Parties: Agent and Buyer
Purpose:
An extension permission from the Buyer authorising a 30 day extension of Form B
Form F Property Purchase Agreement Sale contract
Signing Parties: Buyer, Seller & Agent.
Purpose: Standard contract format, issued by Seller’s Agent, signed by Buyer 1st (the offer), presented to the Seller, if/when price, terms and conditions are agreed, signed & initialled by both the Buyer & the Seller, is dated and becomes a legally binding & enforcable contract between Buyer & Seller. Must also accomany a site map, floorplan and FORM O declaration of maintenaince expenses and or other essential FORMS and/or attachments as required and initialed by both parties.
Form I Agent to Agent Agreement Available Now
Signing Parties: Agent to Agent
Purpose: Used by Agent to Agent for co-operation agreement declaring genuine Buyer & Seller, may detail a sharing of commission or also used for lease of tenancy co-operation between Agents / Broker Offices.
Form J Agent’s Declaration Representing Both Buyer And Seller As Dual Clients
Signing Parties: Agent and Seller & Buyer.
Purpose:
Used by Agent to declare to either side the Agent is acting for both the Buyer and the Seller
Form M Developer's Completed Buyer Pre -Title Advice
Signing Parties: Agent & the Agent seeks the Buyer's Signature.
Purpose:
Completed by the Developer's authorised transfer officer. Signed by both the Buyer and the Seller. If Agent/ Broker introduced, must be signed by Registered Broker Card holder.
Form N Notification Of Property Sale & Transfer
Signing Parties: Agent & the Agent seeks the Buyer's Signature.
Purpose: Used by the Agent to advise RERA the transaction is completed and settled. Also alerts LARA that a pre-title reg is eminient (FORM M coming from developer)
Form O Owner’s Declaration Of Maintenance Funds
Signing Parties: Agent seeks Seller's Signature & then Buyer's signature at point of offer to buy
Purpose: Signed by the Seller and the Buyer. May be accompanied by a Certificate of clearance from Developer with a Contract Used to alert a Buyer of the ongoing costs associated with their purchase.
Form P1 Appointment of Property Manager by Landlord
Signing Parties: Landlord and Property Manager
Purpose:
Appointment of Property Manager by Landlord
Form Q Lodgement of Security Deposit For Tenant(All residential/commercial tenancy agreements)
Signing Parties: Agent or Landlord.
Purpose:
Security Bond against loss, damage or default by Tenant lodged with RERA. For designated zones only. Must be accompanied by FORM P2 on property file.
Form U Termination Notice to Agent
Signing Parties: Buyer or Seller
Purpose: A termination Notice to an Agent / Broker revoking Form A & B, by Seller or Buyer or Landlord or Tenant.Must Accompany Forms A & B, and a minimum of 7 days notice must be given from Buyer or Seller to the Agent
