Ƶ

Simple Asset Sale Agreement for United Arab Emirates

Simple Asset Sale Agreement Template for United Arab Emirates

This document serves as a comprehensive template for asset sale transactions in the United Arab Emirates, structured in compliance with UAE Civil and Commercial Laws. It provides a legally sound framework for transferring ownership of assets between parties, incorporating essential elements such as clear identification of the asset, purchase price, payment terms, delivery mechanisms, and warranties. The agreement is designed to protect both parties' interests while ensuring compliance with UAE regulatory requirements, including any applicable registration procedures and VAT considerations. It includes provisions for both movable and immovable assets, with flexibility to adapt to specific asset types and transaction requirements.

Your data doesn't train Genie's AI

You keep IP ownership of your information

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Download a Standard Template

4.6 / 5
4.8 / 5
Access for free
OR

Alternatively: Run an advanced review of an existing
Simple Asset Sale Agreement

Let Ƶ's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.

What is a Simple Asset Sale Agreement?

The Simple Asset Sale Agreement Template is designed for use in the United Arab Emirates when transferring ownership of assets between parties. It is particularly suitable for straightforward asset sales where a clear and legally compliant documentation of the transaction is required. The template incorporates key provisions required under UAE Civil Code and Commercial Transactions Law, including proper party identification, asset description, payment terms, and transfer mechanisms. This document can be used for various types of assets, from equipment and vehicles to intellectual property and other tangible or intangible assets. It provides essential protections for both buyer and seller while maintaining compliance with UAE legal requirements, including provisions for VAT and any necessary registration procedures. The template is structured to be easily customizable while ensuring all fundamental legal requirements are met.

What sections should be included in a Simple Asset Sale Agreement?

1. Parties: Identification of seller and buyer with full legal names, addresses, and registration details if companies

2. Background: Context of the sale and brief description of the asset being sold

3. Definitions and Interpretation: Key terms used in the agreement and rules for interpreting the document

4. Sale and Purchase: Core terms of the sale including clear identification of the asset and confirmation of transfer

5. Purchase Price: Amount to be paid and currency, including any applicable VAT

6. Payment Terms: Method and timing of payment, including any deposits or installments

7. Delivery and Transfer: Terms for physical delivery or transfer of the asset, including timing and location

8. Seller's Representations and Warranties: Standard warranties about ownership, condition, and right to sell the asset

9. Buyer's Representations and Warranties: Confirmations from buyer regarding authority to purchase and compliance with laws

10. Condition of Asset: Description of the asset's current condition and any known defects

11. Risk and Title: When risk and ownership transfer from seller to buyer

12. Governing Law and Jurisdiction: Confirmation of UAE law application and jurisdiction for disputes

13. Execution: Signature blocks and execution requirements

What sections are optional to include in a Simple Asset Sale Agreement?

1. Due Diligence: Used when buyer needs to conduct investigations before completion

2. Intellectual Property Rights: Required if the asset includes any IP components

3. Conditions Precedent: Include if completion is subject to certain conditions being met

4. Tax Provisions: Detailed tax terms if significant tax implications exist

5. Registration Requirements: Include if the asset requires official registration post-sale

6. Insurance: Required if specific insurance arrangements are needed during transfer

7. Confidentiality: Include if sensitive information is involved in the transaction

8. Force Majeure: Optional protection against unforeseen events preventing completion

9. Anti-Money Laundering: Include for high-value transactions requiring AML compliance

10. Inspection Rights: Used when buyer requires pre-completion inspection rights

What schedules should be included in a Simple Asset Sale Agreement?

1. Asset Description Schedule: Detailed description of the asset including specifications, condition, and photographs

2. Purchase Price Breakdown: Itemized breakdown of the purchase price if multiple components exist

3. Due Diligence Results: Summary of any due diligence findings and replies

4. Transfer Documents: Forms and documents required for formal transfer of ownership

5. Existing Encumbrances: List of any existing liens, charges or encumbrances on the asset

6. Completion Checklist: List of actions required to complete the transfer

7. Required Consents: List of third-party consents needed for the 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

Document Type

Sales Contract

Sector

Sales

Cost

Free to use
Relevant legal definitions

































Clauses
































Relevant Industries

Manufacturing

Retail

Real Estate

Technology

Automotive

Industrial Equipment

Office Equipment

Construction

Healthcare

Education

Hospitality

Transportation

Agriculture

Energy

Professional Services

Relevant Teams

Legal

Procurement

Finance

Operations

Risk & Compliance

Asset Management

Commercial

Property Management

Business Development

Administration

Relevant Roles

Legal Counsel

Contract Manager

Procurement Manager

Asset Manager

Operations Director

Finance Manager

Commercial Director

Business Development Manager

Chief Financial Officer

Risk Manager

Compliance Officer

Property Manager

Fleet Manager

Equipment Manager

General Manager

CEO

Managing Director

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

Find the exact document you need

Used Equipment Sales Agreement

UAE-compliant agreement template for the sale and purchase of used equipment, incorporating local commercial law requirements and transaction specifics.

find out more

Product Contract

UAE-compliant product contract template covering sales, distribution, and quality standards under UAE commercial law.

find out more

Restaurant Sale Agreement

A UAE legal template for transferring restaurant ownership, ensuring compliance with federal and local regulations.

find out more

Purchase Agreement

A UAE legal template for purchase agreements, ensuring compliance with local commercial and civil laws.

find out more

Vehicle Purchase Agreement

A UAE legal document facilitating vehicle sale and ownership transfer, ensuring compliance with federal laws and RTA regulations.

find out more

Simple Asset Sale Agreement

A UAE legal template for asset sale agreements, ensuring compliance with local laws and transaction clarity.

find out more

Sale Of Goods Agreement

A UAE legal template for sale of goods, ensuring compliance with local commercial laws and transaction clarity.

find out more

Stock Sale Agreement

A UAE legal template for share transfer transactions, ensuring compliance with local corporate governance and ownership laws.

find out more

Business Buy Sell Agreement

UAE-governed agreement template for business sale and purchase transactions, compliant with UAE Commercial Companies Law and related regulations.

find out more

Sales Manager Contract

A UAE legal template for hiring sales managers, ensuring compliance with Federal Law No. 33 of 2021.

find out more

Purchase Agreement For House

A UAE legal template for residential property transactions, ensuring compliance with federal and emirate-specific real estate regulations.

find out more

Used Car Contract

UAE-compliant contract template for used vehicle sales, incorporating all necessary legal requirements and RTA regulations.

find out more

Home Purchase Agreement

A UAE legal document outlining terms for residential property sales, ensuring compliance with local property laws and regulations.

find out more

Independent Contractor Sales Commission Agreement

A UAE legal template for engaging independent sales contractors, detailing commission terms and compliance with local laws.

find out more

Sale Of Shares Agreement

A UAE legal document template for documenting share sales, ensuring compliance with Commercial Companies Law and transaction specifics.

find out more

Sales Rep Contract

A UAE legal template for engaging sales reps, ensuring compliance with labor and commercial agency laws.

find out more

Vehicle Selling Contract

A UAE law-governed agreement for vehicle sale and ownership transfer, incorporating RTA requirements and local regulations.

find out more

Private Car Sale Contract

A UAE legal template for private car sales, detailing transaction terms and ensuring compliance with local traffic laws.

find out more

Sale Leaseback Agreement

A UAE legal document facilitating property sale and leaseback, ensuring compliance with federal and emirate-specific regulations.

find out more

Offer To Sell

UAE-compliant template for formalizing offers to sell goods, assets, or property, structured to meet UAE Civil Code and Commercial Law requirements.

find out more

International Sales Contract

A UAE-law governed template for international sales contracts, detailing essential terms for cross-border trade compliance.

find out more

Deed Of Sale Property

A UAE legal document template for property sale, detailing transaction terms and complying with federal and emirate-specific laws.

find out more

Absolute Deed Of Sale Car

A UAE-compliant legal document that records and facilitates the complete transfer of vehicle ownership from seller to buyer, meeting all RTA requirements.

find out more

Vehicle Purchase Form

UAE-compliant legal form for documenting vehicle purchase transactions, meeting all local regulatory requirements for ownership transfer and registration.

find out more

Master Sales Agreement

A UAE-law governed template for ongoing sales agreements, incorporating local legal requirements and international practices.

find out more

Pre Sale Agreement

A UAE legal document outlining terms for off-plan property sales, ensuring compliance with local real estate regulations.

find out more

Installment Sale Agreement

A UAE legal template for documenting installment sales, ensuring compliance with local laws and Sharia principles.

find out more

Contract To Sell Land

A UAE law-governed agreement for the sale and transfer of land ownership, complying with federal and emirate-specific property regulations.

find out more

Sales Partnership Agreement

A UAE legal template for establishing sales partnerships, ensuring compliance with local commercial agency laws.

find out more

Product Sales Agreement

A UAE-law governed template for product sales agreements, ensuring compliance with local commercial and consumer protection laws.

find out more

Private Sale Contract

A UAE legal template for private sale transactions, ensuring compliance with local civil and commercial laws.

find out more

Consignment Sales Agreement

A UAE consignment sales agreement template outlining legal terms for inventory distribution without ownership transfer.

find out more

Art Sale Contract

UAE-law governed art sale contract template ensuring compliance with local regulations and international transaction standards.

find out more

Buyer Seller Agreement

A UAE legal template for buyer-seller agreements, covering commercial transactions under federal laws and local practices.

find out more

Software Sales Contract

A UAE legal template for software sales and licensing agreements, ensuring compliance with local electronic commerce laws.

find out more

Lease To Purchase Contract

UAE-governed agreement combining property lease terms with a future purchase option, compliant with UAE federal and emirate-specific property laws.

find out more

Deed Of Sale Property

A UAE-compliant legal document facilitating property ownership transfer, detailing terms and conditions while meeting local registration requirements.

find out more

Buy Sell Agreement

A UAE legal template for formalizing asset or business sales, aligning with local laws and commercial practices.

find out more

Simple Asset Sale Agreement

A UAE-compliant template for documenting the sale and transfer of assets between parties, incorporating essential legal requirements and protections under UAE law.

find out more

Software Sales Contract

UAE-compliant Software Sales Contract Template covering software licensing, implementation, and maintenance agreements under UAE Federal laws.

find out more
See more related templates

ұԾ’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; ұԾ’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

We are ISO27001 certified, so your data is secure

Organizational security:

You retain IP ownership of your documents and their information

You have full control over your data and who gets to see it