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Acknowledgement Receipt For Real Property Sales for United Arab Emirates

Acknowledgement Receipt For Real Property Sales Template for United Arab Emirates

A formal document governed by UAE law that serves as official proof of payment in real property transactions. This receipt is a crucial legal document that acknowledges the transfer of funds from buyer to seller in real estate transactions within the United Arab Emirates. It complies with UAE federal property laws and emirate-specific regulations, particularly Federal Law No. 5 of 1985 (UAE Civil Code) and relevant emirate-level property legislation. The document includes essential details about the property, transaction parties, payment confirmation, and may incorporate additional elements such as VAT declarations or foreign ownership compliance statements where applicable.

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What is a Acknowledgement Receipt For Real Property Sales?

The Acknowledgement Receipt For Real Property Sales is a fundamental document in UAE real estate transactions, required under various federal and emirate-level property laws. This document serves as official evidence of payment and forms part of the mandatory documentation for property transfers in the UAE. It must be prepared in accordance with UAE Civil Code requirements and specific emirate regulations, particularly in major real estate markets like Dubai and Abu Dhabi. The receipt should be issued immediately upon payment and typically precedes the final transfer of property ownership in the relevant land department registry. It includes critical information such as party details, property specifications, transaction value, and payment confirmation, making it an essential document for both legal compliance and audit purposes. The document is particularly important for proving the financial aspect of property transactions and may be required for various purposes including property registration, tax compliance, and dispute resolution.

What sections should be included in a Acknowledgement Receipt For Real Property Sales?

1. Receipt Header: Document title, date, receipt number, and emirate location of the transaction

2. Parties: Full legal names, Emirates ID/passport numbers, and contact details of both seller and buyer

3. Property Details: Comprehensive property identification including title deed number, property size, location, and any unique identifiers

4. Transaction Details: Purchase price, payment method, and date of payment

5. Payment Confirmation: Explicit acknowledgment of receipt of funds by the seller

6. Property Handover Status: Confirmation of whether property possession has been transferred

7. Signatures: Space for parties' signatures, witness signatures if required, and official stamps

What sections are optional to include in a Acknowledgement Receipt For Real Property Sales?

1. Broker Details: Include when a licensed real estate broker is involved in the transaction, stating broker's details and registration number

2. Installment Schedule Reference: Include when payment is made in installments, referencing the payment schedule

3. Power of Attorney Details: Include when either party is represented by a power of attorney

4. VAT Declaration: Include when the transaction is subject to VAT, stating the VAT amount and registration details

5. Foreign Ownership Declaration: Include when the buyer is a foreign national, confirming compliance with foreign ownership regulations

6. Outstanding Payments: Include when there are remaining payments to be made, detailing the outstanding amount

What schedules should be included in a Acknowledgement Receipt For Real Property Sales?

1. Property Description Schedule: Detailed description of the property including floor plans, boundaries, and included fixtures/fittings

2. Payment Details Schedule: Breakdown of payment including any deposits, main payment, and other fees

3. Documents List: List of all supporting documents provided during the transaction

4. Terms and Conditions: Any specific conditions or terms related to the payment or property transfer

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Publisher

Ƶ

Cost

Free to use
Relevant legal definitions




















Clauses














Relevant Industries

Real Estate

Property Development

Construction

Banking and Finance

Legal Services

Property Management

Investment and Asset Management

Hospitality

Retail

Commercial Property

Relevant Teams

Legal

Real Estate Operations

Finance

Compliance

Property Management

Sales

Documentation

Risk Management

Investment

Customer Service

Relevant Roles

Real Estate Agent

Property Manager

Legal Counsel

Compliance Officer

Finance Manager

Property Developer

Real Estate Investment Manager

Transaction Coordinator

Documentation Specialist

Real Estate Operations Manager

Property Sales Executive

Contract Administrator

Risk Management Officer

Real Estate Portfolio Manager

Property Registration Officer

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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