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Real Estate Disputes and EMI Payments

Real Estate Disputes and EMI Payments

The developer has a right not to provide the revised deadline in case if the buyer has failed to pay the instalment as per the sales purchase agreement. These are the rights granted by Law to developers. All the time or every time developers are not wrong, this is a false perception. The Sales Purchase agreement allows the developer/seller not to revise the last date, deadline or another date if the buyer has fully failed to make the instalments. Purchase Agreements can also make a seller capable of cancelling the deal if the buyer does not meet certain conditions. If he fails to pay the price/instalments then the developer has the right to cancel the agreement. Because all such points are written in purchase agreements from the beginning, therefore the seller can’t be forced or pushed to accept any offer or condition which is beyond the law. But the process to cancel the sales purchase agreement will be different. It means the process of an Off-Plan and Ready-Made Unit, both will be different.

We can also share the law article here for knowledge and legal help. It is Paragraph (A) from Article No.11 of Law No. 19 came in 2017 and amending Law No.13 from 2008, which tells us about such rules and regulations of properties. Such a defined procedure has to be followed, there will be no burden on the seller, otherwise as well as a burden on buyers. It is to be noted that such issues/cases are handled in the Land Department. In Dubai, such cases are dealt by and within the Dubai Land Department. As per the discussion above the developer has to inform the Land Department first before cancelling the purchase agreement. DLD has to verify the situation and then send a 30 Days notice to the purchaser. This notice has to make sure that the purchaser has been informed, warned and updated about his responsibility towards the developer for the project mentioned in the sales purchase agreement. There must be an acknowledgement of receipt. DLD has to medicate and resolve the matter between the buyer and seller. Therefore notice is served by DLD based on the request of the seller/developer. DLD is always interested in creating a solution. If the purchaser does not fulfil the requirement then DLD considers it a contractual breach and issues a letter in the favour of the developer/seller. The Developer/Company can take a few measures against the purchaser like requesting the Land Department to sell property, and call the purchaser accountable for the costs of loss.

80% of the property unit must achieve completion status. For an Off-Plan then the contract can be terminated and 40% of the amount paid by the buyer can be taken by the developer as per Law. The developer has to return the excessive 40% amount within a year time period or within 60 days from the date the unit is resold to another buyer. Let us repeat this for the condition where construction has been finished more than 80% 0r between 60 to 80%. When the Construction is less than 60% then the developer has the right to take 25% of the paid amount and excess has to be returned to the buyer. 

The Support of Lawyers:

When the Cases have to be filled in the Land Department as civil cases in nature related to properties, buying, selling cases or even rental cases in rental courts, then it comes to the point where Real Estate Lawyers are required. These Real Estate Lawyers in Dubai also known as Lawyers in Dubai are Emirati and the best service providers of their domain. For example the Advocate and Legal Consultant, and Emirati Lawyer Mr Mohamamd Ebrahim Hassan Al Shaiba. He writes in Gulf News. He is considered one of the Best Lawyers and Legal Consultants in the United Arab Emirates. 

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