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Request for approval to change the bank trustee of the account for the jointly-owned property

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

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1- Approval from the owners committee to change the account trustee (escrow account) and the bank private account number for the joint property
2- A copy of the letter to the owners of the real estate units in the jointly-owned property informing them the willingness to open a new account with the concerned bank and providing the information regarding the last date for receiving the payments and amounts in the old account and its details
3- Electronic no-objection letter from the old the bank trustee of the account through the system
4- Electronic no-objection letter from the new the bank trustee of the account through Mollak system

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

This service is free

Through the electronic system:
Step 1: Register and create an account in the Mollak system (if the customer does not have a pre-existing account) or log in to the system and choose the service
Step 2: Fill in the data and send the application electronically
Step 3: The request is verified, and a notification of approval or rejection will be sent through the system
Step 4: Receive a notification on approval via email
Step 5: Data will then be displayed on Dubai Land Department's website (Mollak system)

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Dubai Land Department's website (Mollak system)

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Data is displayed through Mollak system

1 Day