(MENAFN - Khaleej Times) His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, has issued Decree No. 01 of 2018 regulating the sale of lands and houses granted in Dubai.
The decree aims to provide housing solutions for the beneficiaries of grants and their families, to protect households, and to preserve the demography of citizens' residential areas.
Pursuant to the decree, the Mohammed bin Rashid Housing Establishment, MRHE, may permit the beneficiary of the grant, or his legal representative, to sell the house or land granted to him if the beneficiary owns another house or plot of land or if the house does not satisfy his requirements.
The decree stipulates that the purpose of selling the house or land should be to buy another house or plot of land and the beneficiary must agree in writing to the transaction being supervised by the MRHE. The beneficiary will not be able to apply for another house or plot of land once the house or land granted to him is sold.
The law also states that the buyer must be a UAE national. The property should not be attached to any legal or financial liabilities and the sale price should not be less than the market value. The Department of Land and Property in Dubai will issue the title deeds for the buyer only if all the conditions for the transaction are met.
The decree specifies the terms and conditions for selling inherited property, trading properties, purchasing adjacent government-owned property and renting a house built on granted land.
To sell a granted property, the beneficiary of the grant must complete the required form, apply to the MRHE or Dubai Municipality and submit the required documents. The MRHE's Board or the Director-General of Dubai Municipality is authorised to approve the sale and charge any fees for the transaction. Any concerned party can appeal the decision to the MRHE's Board or the Director-General of Dubai Municipality within 15 days of the date of notification. The MRHE's Board or the Director-General of Dubai Municipality may form a committee to review the appeal and issue a final decision.
The decree authorises the Board of MRHE and the Director-General of Dubai Municipality to carry out any measures required to implement this decree.
The decree annuls any other legislation that contradicts or challenges its articles. The decree is valid from the date of its publication in the Official Gazette.