Transfer ownership of apartment

Go Back   Expat Forum For People Moving Overseas And Living Abroad > Middle East & Africa > Dubai Expat Forum for Expats Living in Dubai

Dubai Expat Forum for Expats Living in Dubai Have you made Dubai your new home? Are you thinking about moving to Dubai? If you want meet like minded Expats living in Dubai then you have come to the right place. Join the Dubai Expat Forum and discuss food, meet friends, talk property in Dubai, finances, jobs and much much more.

Transfer ownership of apartment


Reply
 
Subscribe to this Thread Thread Tools
  #1 (permalink)  
Old 8th March 2015, 06:09 PM
Member
 
Join Date: May 2014
Location: Dubai
Posts: 449
Rep Power: 572
Froglet has a reputation beyond reputeFroglet has a reputation beyond reputeFroglet has a reputation beyond reputeFroglet has a reputation beyond reputeFroglet has a reputation beyond reputeFroglet has a reputation beyond reputeFroglet has a reputation beyond reputeFroglet has a reputation beyond reputeFroglet has a reputation beyond reputeFroglet has a reputation beyond reputeFroglet has a reputation beyond repute
106 likes received
102 likes given

Users Flag! Originally from micronesia. Users Flag! Expat in uae.
Default Transfer ownership of apartment

Soooo, a while ago we received an eviction notice because the landlord wanted to sell his apartment. We are meant to leave at the end of the month but since no one wanted to buy it he asked if we are interested to stay...

The law says that if he wanted to sell his apartment but didn't manage to by the time the tenant leaves, s/he is not allowed to rent it to anyone (except the current tenant) for a year.

So, this gives us some bargaining power because no one wants to buy it and he can only rent it to us. With that in mind we offered him a below market price but he did not get back to us yet.

The question I have is: can he transfer the ownership of the apartment to his wife who will then be the new landlord and then they would be allowed to rent it to anyone again? What are the implications or transferring ownership? How much does it cost?

Reply With Quote Quick reply to this message
  #2 (permalink)  
Old 9th March 2015, 06:33 AM
Member
 
Join Date: Feb 2009
Location: Abu Dhabi
Posts: 4,052
Rep Power: 277803
rsinner has a reputation beyond reputersinner has a reputation beyond reputersinner has a reputation beyond reputersinner has a reputation beyond reputersinner has a reputation beyond reputersinner has a reputation beyond reputersinner has a reputation beyond reputersinner has a reputation beyond reputersinner has a reputation beyond reputersinner has a reputation beyond reputersinner has a reputation beyond repute
697 likes received
439 likes given

Users Flag! Originally from india. Users Flag! Expat in uae.
Default

registration cost of the new ownership would be 4% I believe. I doubt he will go through the hassle and cost of transferring just to get a new tenant.

Reply With Quote Quick reply to this message
  #3 (permalink)  
Old 9th March 2015, 07:44 AM
Member
 
Join Date: May 2014
Location: Dubai
Posts: 449
Rep Power: 572
Froglet has a reputation beyond reputeFroglet has a reputation beyond reputeFroglet has a reputation beyond reputeFroglet has a reputation beyond reputeFroglet has a reputation beyond reputeFroglet has a reputation beyond reputeFroglet has a reputation beyond reputeFroglet has a reputation beyond reputeFroglet has a reputation beyond reputeFroglet has a reputation beyond reputeFroglet has a reputation beyond repute
106 likes received
102 likes given

Users Flag! Originally from micronesia. Users Flag! Expat in uae.
Default

Thanks rsinner. The 4% is that when you sell property or also when you transfer (to for example you husband/wife/kids).

Reply With Quote Quick reply to this message
Sponsored Links
Advertisement
 
  #4 (permalink)  
Old 9th March 2015, 10:49 AM
marc's Avatar
Member
 
Join Date: Mar 2008
Location: Dubai
Posts: 1,111
Rep Power: 35128
marc has a reputation beyond reputemarc has a reputation beyond reputemarc has a reputation beyond reputemarc has a reputation beyond reputemarc has a reputation beyond reputemarc has a reputation beyond reputemarc has a reputation beyond reputemarc has a reputation beyond reputemarc has a reputation beyond reputemarc has a reputation beyond reputemarc has a reputation beyond repute
15 likes received
6 likes given

Users Flag! Originally from england. Users Flag! Expat in uae.
Default

He must give 12 months notice as well, and it should be sent via courier and notarized via Dubai Courts. Any other notice or communication to vacate is not valid.

__________________
For once you have tasted flight you will walk the earth with your eyes turned skywards, for there you have been and there you will long to return.
Leonardo da Vinci
Reply With Quote Quick reply to this message
  #5 (permalink)  
Old 10th March 2015, 01:53 PM
Member
 
Join Date: Feb 2009
Location: Abu Dhabi
Posts: 4,052
Rep Power: 277803
rsinner has a reputation beyond reputersinner has a reputation beyond reputersinner has a reputation beyond reputersinner has a reputation beyond reputersinner has a reputation beyond reputersinner has a reputation beyond reputersinner has a reputation beyond reputersinner has a reputation beyond reputersinner has a reputation beyond reputersinner has a reputation beyond reputersinner has a reputation beyond repute
697 likes received
439 likes given

Users Flag! Originally from india. Users Flag! Expat in uae.
Default

Quote:
Originally Posted by Froglet View Post
Thanks rsinner. The 4% is that when you sell property or also when you transfer (to for example you husband/wife/kids).
I think it is for all transfers - but not sure.
Also, keep in mind that if there is a home loan etc on the property then there would be extra hoops to jump through.

Reply With Quote Quick reply to this message
  #6 (permalink)  
Old 10th March 2015, 01:55 PM
marc's Avatar
Member
 
Join Date: Mar 2008
Location: Dubai
Posts: 1,111
Rep Power: 35128
marc has a reputation beyond reputemarc has a reputation beyond reputemarc has a reputation beyond reputemarc has a reputation beyond reputemarc has a reputation beyond reputemarc has a reputation beyond reputemarc has a reputation beyond reputemarc has a reputation beyond reputemarc has a reputation beyond reputemarc has a reputation beyond reputemarc has a reputation beyond repute
15 likes received
6 likes given

Users Flag! Originally from england. Users Flag! Expat in uae.
Default

Yeah it is always 4%

However he can gift to his immediate family member, that would cost 0.25% of the valuation done by Land Department.

__________________
For once you have tasted flight you will walk the earth with your eyes turned skywards, for there you have been and there you will long to return.
Leonardo da Vinci
Reply With Quote Quick reply to this message
  #7 (permalink)  
Old 10th March 2015, 02:36 PM
Member
 
Join Date: May 2014
Location: Dubai
Posts: 449
Rep Power: 572
Froglet has a reputation beyond reputeFroglet has a reputation beyond reputeFroglet has a reputation beyond reputeFroglet has a reputation beyond reputeFroglet has a reputation beyond reputeFroglet has a reputation beyond reputeFroglet has a reputation beyond reputeFroglet has a reputation beyond reputeFroglet has a reputation beyond reputeFroglet has a reputation beyond reputeFroglet has a reputation beyond repute
106 likes received
102 likes given

Users Flag! Originally from micronesia. Users Flag! Expat in uae.
Default

Quote:
Originally Posted by marc View Post
Yeah it is always 4%

However he can gift to his immediate family member, that would cost 0.25% of the valuation done by Land Department.
Thanks Marc. This is valuable information.

If he gifts the apartment to his wife, is she then allowed to rent it out immediately? Or does the rule still hold that they are not allowed to rent it out for a year because of the initial eviction note (since she is family of the landlord who gave us the eviction note).

Reply With Quote Quick reply to this message
  #8 (permalink)  
Old 10th March 2015, 02:41 PM
Member
 
Join Date: Feb 2012
Posts: 70
Rep Power: 0
Cos_mo is on a distinguished road
2 likes received

Default

I'm in a similar situation...got my notice and have to move out in June....landlord selling also. Didn't realise he can't rent it out for a year if he doesn't sell....there havnt been any viewings in months so hopefully!!! Where does it state this?

Reply With Quote Quick reply to this message
  #9 (permalink)  
Old 10th March 2015, 02:49 PM
Member
 
Join Date: May 2014
Location: Dubai
Posts: 449
Rep Power: 572
Froglet has a reputation beyond reputeFroglet has a reputation beyond reputeFroglet has a reputation beyond reputeFroglet has a reputation beyond reputeFroglet has a reputation beyond reputeFroglet has a reputation beyond reputeFroglet has a reputation beyond reputeFroglet has a reputation beyond reputeFroglet has a reputation beyond reputeFroglet has a reputation beyond reputeFroglet has a reputation beyond repute
106 likes received
102 likes given

Users Flag! Originally from micronesia. Users Flag! Expat in uae.
Default

Quote:
Originally Posted by Cos_mo View Post
I'm in a similar situation...got my notice and have to move out in June....landlord selling also. Didn't realise he can't rent it out for a year if he doesn't sell....there havnt been any viewings in months so hopefully!!! Where does it state this?
I called RERA and they told me that the landlord is not allowed to rent it to anyone except you for a year after your tenancy contract ends. If you leave in June and he rents it to someone else, you can make a complaint and he may have to pay up to 1 year rent to you as compensation.

Reply With Quote Quick reply to this message
  #10 (permalink)  
Old 10th March 2015, 03:21 PM
Member
 
Join Date: Feb 2012
Posts: 70
Rep Power: 0
Cos_mo is on a distinguished road
2 likes received

Default

Great to know! Thank you!

Reply With Quote Quick reply to this message
Reply


Quick Reply
Message:
Options

Register Now

In order to be able to post messages on the Expat Forum For People Moving Overseas And Living Abroad forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.
User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.
Password:
Confirm Password:
Email Address
Please enter a valid email address for yourself.
Email Address:
Location
Where you live
Expat From Country
Please select the country you originate from. This will appear as a flag when you make posts on the site.
Expat To Country
Please select the country you have either moved to or want to relocate to. This will be presented on the site when you make posts.

Log-in


Thread Tools

Posting Rules
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Ownership fodder Philippines Expat Forum 12 8th June 2016 01:26 PM
Transfer of car ownership The Grocer Greece Expat Forum for Expats Living in Greece 24 19th August 2015 11:16 AM
Transfer of car ownership from Dubai to Sharjah friction Dubai Expat Forum for Expats Living in Dubai 0 3rd September 2014 05:21 AM
About Car ownership imransheth Japan Expat Forum for Expats Living in Japan 0 14th August 2014 02:55 AM
thai land ownership / title transfer fees airpilot222 Thailand Expat Forum for Expats Living in Thailand 17 29th July 2009 02:42 AM

FORUM PARTNERS

ExpatForum.com is owned and operated by VerticalScope Inc.

Retiring Overseas Guides | Moving Overseas Guides | Cost of Living | Health Care Guides


All times are GMT. The time now is 05:37 PM.


Powered by vBulletin®
Copyright ©2000 - 2019, vBulletin Solutions, Inc.
Search Engine Friendly URLs by vBSEO
vBulletin Security provided by vBSecurity v2.2.2 (Pro) - vBulletin Mods & Addons Copyright © 2019 DragonByte Technologies Ltd.