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The Complete Process of Property Gifting or Property Transfer Trustees in Dubai

Know what Registration Trustees in Dubai does and how to pay property transfer fees. We are providing Complete Process of Property Transfer Trustees in Dubai.

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The Complete Process of Property Gifting or Property Transfer Trustees in Dubai

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  1. The Complete Process of Property Gifting or Property Transfer Trustees in Dubai

  2. INTRODUCTION A gift of property is a trendy concept in the Emirate of Dubai given the clear known advantage of the exemption from the usual 4% transfer fee that is payable on all the possessions transfers. At the land department, and transfer that is made between the first-degree relatives can be treated as a gift transfer for the payment of the transfer fee. The company must know what can be classified as a gift transfer of property.

  3. WHAT IS THE PROCEDURE OF GIFTING? The procedure of gifting a property here in Dubai is as follows:By making a payment of AED 4,020, the owner is needed to get an assessment report on the price of the property from the land department. From the developer of the property, the owner should get a No Objection Certificate (NOC). In their respective home country, the owner and the donee are needed to generate their first-degree relationship through an official document made. For example, a birth certificate will be needed to be shown as evidence of this relationship, if the owner is the father/mother of the donee. In the home country, any such document must be legalized and notarized. The document is also necessary to be translated into Arabic and stamped by the Ministry of Justice.

  4. WHAT IS THE CHARGE FOR A GIFT TRANSFER OF PROPERTY? In the Emirate of Dubai, the charge of a gift transfer of property is as follows:AED 2000 is the lowest gift transfer fee payable to the land department. However, if the value of the property is above AED 500,000, based on the assessment certificate released by the land department-the transfer fee payable to the land department shall be 0.125% of the overall value of the property.For the name title action, AED 580 should be paid.Depending upon the assessment of the property, a fee of AED 2,000 or AED 4,000 is chargeable to the trustee offices.At the trustee office, once the above documents and the charge have been paid, the trustee office would perform the transfer of the property which would result in the issuance of a new title deed in the name of the donee. The doneewill become the official owner, once the new title deed has been generated.

  5. Conclusion:  Above article will provide details for the complete procedure of property gifting or property transfer trustees in UAE. Detailed procedure of gifting properties and charges applicable to that is mentioned in the above article. Source

  6. CONTACT US Tawtheeq Property Registration TrusteesAddress: The Metropolis Tower - Business Bay – Dubai, UAE Phone: +971 43308888Website: https://tawtheeqdxb.com/ Email: info@tawtheeqdxb.com

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