Dubai Property Law To Be Clarified

The Dubai Land Department are looking at making a law amendment which would clarify what happens when a property buyer defaults on a payment.

Article 11, Law 132 currently states that if a buyer defaults on a sales contract, the developer is permitted to cancel the property contract and return the property purchaser’s money minus 30%. However the law is unclear the law applied to 30% of the money that the purchaser has paid so far, or 30% of the total amount that is due.

The amendment is expected to be a comprehensive and detailed amendment which would clear up any confusion over the way the law is currently stated.

A statement released by the Dubai Land Department’s Director General reads, “We will release an amendment to Article 11 in the coming weeks. It is something good for the market as it is more comprehensive and detailed.”

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