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Settlement Request

Description

This service allows customers to apply for approval of the implementation of an amicable settlement between the developer and investor regarding real estate units or land, under which a real estate unit or land will de-registered, or merged with, or replaced by another unit or land

To apply for implementation of amicable settlements, projects must be registered in the Real Estate Regulatory Agency and the real estate unit or land must be registered in Dubai Land Department. The developer must have access to Oqood System.
With regard to the request for the implementation of land settlement agreements, it requires that the land is not restricted to a project

The service is provided by the Legal Affairs Department

Required Documents
  1. Letter requesting implementation of the settlement agreement (application form for deregistration, replacement, or amalgamation of units), with a declaration from the developer confirming the validity of signatures and documents, and letter of authorisation of the developer’s representative to sign the developer’s requests filed with Dubai Land Department
  2. Copy of the settlement agreement (in Arabic or translated by a certified translator into Arabic) stamped and signed by the parties mentioned therein. 
  3. Copy of the buyer’s Passport, and ID or copy of the commercial license where the buyer is a company (The commercial license must indicate the name of the manager authorised to sign on behalf of the company) and in case of free zone companies, a resolution of the Board of Directors certified by the Free Zone Authority is required .
    If an agreement is signed by an agent, a copy of the agency and a copy of the passport or the ID of the agent must be attached
  4. Delivery of payment of registration fees for the new unit in the case of transfer. Delivery of payment of registration fees of the unit to be canceled in case of cancellation without conversion. In the settlements of canceled projects Excludes the request for delivery of payment in case of cancellation without
  5. The booking form or sales contract clarifies the signature of the parties.
    In the event of land settlement, there should be no project on the ground
Service Procedures
The Client shall login to Oqood Portal and choose the service and submit the required document and pay the fees electonically

Service Fee
  • 3000 Dirham
  • 10 Knowledge Dirham
  • 10 Innovation Dirham    

 


Service Branches

Oqood Portal- Real Estate Developers Portal

Related Services Oqood System
Additional Information

​N/A

Last updated 10/02/2019 15:32:58
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