Dubai Land Department Imposes Fines for Late Registration
5 May 2016
Following considerable warning and Notice period the Dubai land Department finally impose penalties on owners who have not registered there properties with the land department.
It is compulsory on new sales and on transfer that a 4% transfer fee is paid to the Dubai Land Department and a title deed is issued ether on the completed property register or the off plan register ( Oqood ) this sis compulsory for all properties throughout Dubai.
Historically properties were purchased on Sales Purchase agreement ( SPA ) whereby the owner never registered the property avoiding the registration fee initially 2% and later increased to 4% now as of mid April a further 4% penalty will be applied for those not registered so a total of 8% will be charged as all transfers have to be done at a authorized Trustee office there will be no escaping this payment.
Dubai as improved its processes significantly since that freehold properties were allowed to be brought by foreign nationals back in 2002 / 2003 and all properties have official title deeds / Oqood title deed with every properties in order to identify legal entitlement.
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