During the financial crisis of 2008, we experienced major real estate disputes that helped test Dubai's real estate laws and identified its weaknesses. After nearly more than a decade of implementation, Dubai's real estate laws and practice are much more substantial.
Dubai's real estate market now has a more mature one, following various property laws on registration, strata, mortgage, escrow accounts, and other laws, including initial registration. Their legislation clarifies and helps them understand their rights and best practices and define the rights and obligation of stakeholders (i.e. investors, developers, banks and land services).
The leading real estate dispute settlement options in Dubai are highlighted in this article.
Dubai Land Department Amicable Settlement Center (ASC) (DLD)
In general, we recommend that filing a claim in Court is the ultimate way to resolve the cost and time involved in a property dispute.
We believe that it is an efficient option to refer real-estate disputes to the ASC as the ASC mediators are experienced and have access to DLD databases to help them locate more efficiently facts and information about properties, projects, developers and other information. ASC does not charge the Parties charges and does not impose a decision on the Parties, but seeks to mediate and make a friendly solution. If successfully resolved, it becomes binding and enforceable against the signing parties by signing a settlement agreement. The ASC is located at DLD and is managed by an expert legal team.
Judicial Committee for Bad Checks
The Committee has been set up in compliance with Decree No 56 2009, reflecting the increase in the number of bad checks issued by investors to developers during the international financial crisis. The Committee is competent I to cancel reviews or (ii) to rearrange payment of the purchase price and to instruct buyers, if they are entitled to the number of bad checks, to submit new bills to developers; or, (iii) to send bad checks to the competent judiciary. The Committee decides on the progress of building and the performance (or not) of the developer's obligations.
The Dubai courts have jurisdiction to resolve property disputes, which must initially be referred to the Court of First Instance and then to the Court of Appeal and Cassation.
Resolve real estate disputes in Dubai
Although the UAE Civil Transactions Act 1985 (the "Civil Code") does not set specific deadlines for filing cases regarding real estate matters, Article 473 of the same provides that the statute of limitations for any contractual claim is 15 years from the date the dispute or claim arose.
The Civil Code also stipulates, in the matter of appeals, that the appeal before the Court of Appeal has to be filed within 30 (30) days from the date of receipt of the Court's ruling and the additional period 60 (60) days from the time the Court of Appeal's judgment has been filed.
For more information get in touch with professional real estate lawyers in dubai – Nour Attorneys