Heading

This service allows customers to apply for approval to change the bank account number of the jointly-owned property

N/A

1- Approval from the owners committee to change the bank account number (escrow account) for the jointly-owned property
2- A copy of the letter from the owners of real estate units in the jointly-owned property wishing to change the bank account number (specify the current bank) for the jointly-owned property and providing information on the date of the last date for receiving payments and amounts in the old account and its details
3- Electronic no-objection letter from the bank trustee of the account through Mollak system.

1- Not to close the old escrow account until obtaining approval from the Real Estate Regulatory Agency
2- The bank account trustee must transfer the available balance in the old account to the new account, in addition to all documents and records related to the account (for example: the approved budget, what has been spent, etc.).
3- The bank account trustee must provide the new bank account details through the Mollak system

This service is free