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Request for Implementing a Settlement between the Developer and Buyer

Description
This service allows refunding the amounts paid by a buyer or transferring these amounts to another project pursuant to a settlement agreement between the parties (developer and buyer).  The service is provided by the Project Liquidation Section at the Department of Real Estate Escrow Accounts.
Required Documents
  1. Copy of the settlement agreements concluded between both parties
  2. (Certification of Legal Affairs) In case of registration of the investor in Oqood, an electronic approval shall be issued by the Legal Affairs, In case the investor was not registered in Oqood, a written approval shall be issued by the Legal Affairs
  3. Proof of identity of the buyer (original passport or ID) 

 

 

Service Procedures

​The developer shall head to the Dubai Dubai Land Department - Projects Cancellation Section and shall submit the required documents following the completion of the internal procedure, to issue an order for the Escrow Accounts and Compensations Department to pay the required amount. The client shall be notified of the receipt of the cheque from the Escrow Accounts and Compensations Department. 

Service Fee
N/A
Service Branches

Dubai Land Department- Main Office

Related Services
Additional Information

​N/A

Last updated 01/14/2019 10:41:24
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