Sheikh Mohammed issues new housing law
According to the decree, an Emirati wishing to sell the land or house granted to them by the government must first apply for a permit from the Mohammed bin Rashid Housing Establishment
Emiratis looking to sell a house or plot of land allocated to them by the government must first apply for a permit from the Mohammed bin Rashid Housing Establishment.
On Thursday, Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, issued a decree regulating the sale of land and houses issued in the emirate.
Decree No. 1 of 2018 aims to provide housing solutions for beneficiaries of grants and their families, protect households and preserve the demography of citizens’ residential areas.
According to the decree, an Emirati wishing to sell the land or house granted to them by the government must first apply for a permit from the Mohammed bin Rashid Housing Establishment. The permit will only be granted if the beneficiary owns another house or plot of land or if the house does not satisfy their requirements.
The law stipulates that the house or land can only be sold to buy another house or plot of land and the beneficiary must agree in writing to the transaction while being supervised by the Mohammed Bin Rashid Housing Establishment.
The beneficiary will not be able to apply for another house or plot of land once the house or land granted to them 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.
Terms and conditions for selling inherited property, trading properties, purchasing adjacent government-owned property and renting a house built on granted land were also laid out in the new law.
The new decree annuls any other legislation that contradicts or challenges its articles and will be valid from the date of its publication in the Official Gazette.
Updated: February 1, 2018 07:25 PM