Definition:

The Government of Dubai lands department credits mortgages for both individuals and different bodies. The mortgage is registered for the benefit of certified banks, government departments or local individuals and a mortgage contract is issued once the conditions are met and all necessary documents have been submitted. Mortgage contracts are credited if they relate to first degree or second degree lands (i.e. new mortgages on land areas which have been previously mortgaged) which have no restrictions and are going to be used for building purposes. However, there are some cases where mortgages are not credited such as:-

• If the mortgage was under age unless there was an order from the office of the attorney General.
  
• If the involved bank was not yet licensed to conduct business in the UAE.
  
• If the indicated land was confiscated.

Transferring a mortgage:

When the mortgager wants to transfer the mortgage from one party to another or from one bank to another.

Transferring a mortgage:

When the mortgager wants to transfer the mortgage from one party to another or from one bank to another.

Mortgage release:

In this procedure the release of the mortgage is completed and the mortgage mark will be removed from the department's records.

Extension of the mortgage repayment:

The owner may request an extension of the mortgage repayment upon the agreement of the mortgager after which it will be registered accordingly in the Department.

 Documents Required:  

Mortgage contracts could be dissolved or modified at any time if the department received a letter from the pledgee indicating its termination or the necessary modifications on the payment method. Moreover, the mortgage could be transferred from one body to another in what is known as the mortgage transfer process.

 Registering Mortagage:

• A copy of the passport and nationality card
• Deed of title and land map.
• Trade license for the pledgee in case it’s their first transaction of the kind.
• A letter from the pledgee including information on the mortgage and the signature of both parties involved.
• A mortgage contract from the bank.

 Mortagage Transfer:

• Mortagage transfer letter+original contact.
• Letter from new mortgager+title deed + site map

 Extending Mortgages:

• Extending the mortagage letter + title deed.
• Original mortagege contract + passport copy.

 Mortgage Disclosure:

• Mortgage disclosure letter+ passport title deed.
• Original mortgage contract.