The Abu Dhabi Real Estate Investment Law Number 19 of 2005 governing the Regulation of the Real Estate Sector in the National Capital allows foreign nationals to own properties only in the form of floors and apartments, not lands, through four basic systems. If you aren’t able to understand these things you can easily contact any law firm where Lawyers in Abu Dhabi will be ready to help you about these property laws and regulations.
The ownership system is based on titles issued to foreigners that only allow them to own buildings without any other property for up to 99 years. They have the option to completely dispose of any purchased housing units, including villas and flats for sale.
For a period of 50 years, the holder of a Musataha agreement has the right to build on, mortgage, sell, lease, and buy a piece of land that belongs to a third party. Additionally, this is a renewable right that can be prolonged for an additional duration of up to 50 years with the parties’ agreement.
A musataha agreement is described as “an ownership right given upon a person permitting him to construct a building, alter the property, or to plant on the land which is owned by another person for a maximum duration of 50 years” in article 1353 of the UAE Civil Code.
The Real Estate Ownership Law in Abu Dhabi covers all of the rights and registration procedures relating to the Musataha Rights. The Abu Dhabi municipality’s land department must get a copy of the Musataha agreements before they may be registered.
The document may not be enforceable if the Musataha agreement is not registered. The Musataha right owner must first give permission for the landlord to mortgage the property. It is largely intended to promote investment without the investor’s ownership, or what is now referred to as freehold, by legislating such a unique sort of land ownership.
A usufructur right is one of the civil law rights that grants the right to possess, use, or manage movable or immovable property, consumer or non-consumable property, and the enjoyment of benefits resulting from the property subject to usufruct.
The right of usufruct may be established for a specific period of time or it may continue until the end of the Usufruct rights are governed by Article 1333 of the UAE Civil Code, which defines them as an in-rem right granted to the usufructuary to use real estate that belongs to another person and make use of it so long as it is still standing. Foreigners are permitted to own dwelling units for 99 years under the usufruct contract in specific investment regions.
Long-Term Lease: A long-term lease is granted for a minimum of 25 years in the beginning.
Abu Dhabi Lawyers and Legal Consultants
Foreigners are sometimes suspected about the legal services available in Abu Dhabi and UAE. Therefore, it is to be cleared here that legal services in United Arab Emirates are the best in its type. It means that proper Law and order is available, a proper law is implemented and executed, and a proper accountability is available. The Advocates and Legal Consultants here are also professional. We mention two words here which are Advocates and Legal Consultants.
The reason is that a UAE National can be Advocate and Legal Consultant together but a Legal Consultants means only an expatriate attorney. These legal consultants are also bound to obtain the license, they will not be authorized to provide the legal advice, otherwise. Therefore people prefer to hire the UAE national Lawyers but from top Emirati Law Firms. We can give an example here e.g. Ask The Law – Al Shaiba Advocates and Legal Consultants.