Request for Settlement

Description

This service enables the developer to approve the implementation of the settlement agreement between the developer and the investor, whether on real estate units or lands through which registration is cancelled, merged, or transferred from a real estate unit or land to another.


Service Form

6 Forms
(Settlement Agreement)


Required Documents

1- Reservation form or contract of sale showing the signature of the parties
2- Cancellation Status Form or Transfer or Merge Status Form signed by the developer and the investor
3- A pledge from the developer on the authenticity of the signatures and documents in the event of settlement of the units
4- In the event of a settlement on the land a pledge not to grant building permits free of construction must be attached
5- A copy of the settlement agreement in Arabic or translated, certified, stamped, and signed by all parties

(For individuals)
6- A copy of a valid Emirates ID or passport

(For companies)
7- A copy of the commercial license and the memorandum of association clarifying the authorized signatory
Attach a copy of the valid passport or Emirates ID of the authorized signatory

For a company registered with the free zone)
8- A decision to authorize the signing by the Board of Directors, certified by the free zone

In the event of a representative
9- In the event that an agreement was signed by a representative, a copy of the representation and a copy of the valid passport or Emirates ID of the representative must be attached.

10- Attach the receipt to pay the initial registration fees for the following cases:
- In the event of transfer to the same buyer: a receipt for payment of registration fees for the new unit
- In case the buyer differs, a fee payment receipt is attached for both canceled and transferred units
- In the event of cancellation without transfer, a payment receipt for the unit registration fee to be canceled must be received
Note: the fee receipt receipt is excluded if the project is canceled


Service Terms

A real estate settlement request service requires:
1- The real estate project must be registered with the Real Estate Regulatory Agency
2- The unit or land must be registered in Dubai Land Department's records
3- In the event of a settlement on a land, it must not have a real estate project on it


Service Fees

AED 3,000
AED 10 Knowledge Fee
AED 10 Innovation fee


Service Procedures

Via the electronic system
Step 1: Register and create an account in Oqood Portal (if the customer is not already registered) or login through the portal and choose the service
Step 2: Pay the fees and send the application electronically
Step 3: The specialized employee receives and verifies the request
Step 4: The request is approved/declined and forwarded to the developer
Step 5: If the request is approved, an email will be sent to all concerned parties



Payment Method

Noqodi



Service Channels

Oqood Portal- Real Estate Developers Portal



Issued Documents

Not Applicable



Service Time

7 hours and 30 minutes

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