Unlocking the Gateway to Generational Wealth: Understanding Property Transfers to Family Members in Dubai

Unlocking the Gateway to Generational Wealth: Understanding Property Transfers to Family Members in Dubai

Are you considering passing down your Dubai property legacy to your first-degree relatives? Navigate the seamless process with insights into the fees and regulations set by the Dubai Land Department (DLD).

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In adherence to the Executive Council Resolution No. 30 of 2013, also known as the Dubai Land Department Fees Resolution of 2013, the DLD oversees property registration and transfers, focusing on fees rather than taxes.

According to Article 2 of the Resolution, fees for the registration of Real Property Dispositions are exclusively managed by the DLD. This encompasses completed, under-construction, or off-plan real properties, along with associated services outlined in Table (1) attached to the Resolution.

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If you’re looking to gift your property to first-degree family members, such as parents, spouses, or children, the process incurs a charge of 0.125 percent of the property’s value. The minimum charge for such transactions is set at Dh2,000.

Article 3(5) of the Dubai Land Department Fees Resolution of 2013 elaborates on the payment process, stating that the individual receiving the transferred rights is responsible for covering the fees. This applies to various scenarios, including contracts for land use and development (Musataha), transferring a share of real property among heirs (Takharuj), gifts, wills, mortgages, debt conversions, family endowments (Family Waqf), and registering the rights of heirs of tenants.

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To break it down further, you can gift a property to first-degree family members by paying 0.125 percent of the property’s value or a minimum of Dh2,000, whichever is higher.

For those contemplating the sale of property to first-degree relatives, individuals, or corporations, be prepared to allocate 4% of the selling contract’s value.

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Understanding these intricacies ensures a smooth transition of property within your family circle. Embark on the journey of securing your family’s future while navigating the legal landscape with clarity and confidence. #DubaiRealEstate #FamilyLegacy #PropertyTransferDubai #DLDGuidelines”

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