SOLUTIONS RATED A+
✔✔To develop a legal understanding, brokers must be able to do what 3 things? - ✔✔1.
Locate source of law
2. Identify relevant facts
3. Act or comply with legal requirements
✔✔What are the 3 sources of UAE Law? - ✔✔1. Religion
2. Customs
3. International law
✔✔What is the only recognized authority to register real estate transactions outside the
DFSA? - ✔✔The Dubai Land Department (DLD)
✔✔The Real Property Register is held at the DLD and branches held with whom? -
✔✔Master developers
✔✔Upon death of owner, legal heirs must register with whom? - ✔✔Legal heirs must
register with the DLD as heirs of the deceased
✔✔Monies in a trust account cannot be used as security for a creditor of the developer?
(True or False?) - ✔✔True
✔✔What are the four factors that a broker must ensure when selling off plan properties?
- ✔✔1. Validity of project
2. RERA approved trust account established
3. Developer / broker agreements registered with RERA
4. Have seller approve advertising
✔✔Which document must a broker obtain from the developer before selling off-plan? -
✔✔NOC from RERA to promote and sell "off-plan" units of the project.
✔✔How much is the Administration fee payable to DLD upon transfer of title? - ✔✔315
dirhams
✔✔A mortgage may be secured by one of what 3 things? - ✔✔1. The whole property
2. An undivided interest in the property
3. By right in-rem over an off plan property
✔✔A mortgage not registered with the DLD is invalid. (True or False?) - ✔✔True
✔✔What are the borrower's obligations and restrictions until the loan is discharged? -
✔✔1. Not sell or gift the property without permission.
, 2. Create a right in-rem without permission.
3. Keep the property in good condition
✔✔Mortgage registration must include what information? - ✔✔1. The property
2. The Mortgagor (borrower)
3. The mortgagee (lender)
4. The Guarantor
✔✔Who is first responsible for drafting a preliminary JOP Declaration? - ✔✔Each
developer must initially draft a preliminary JOP Declaration.
✔✔Where must the JOPD be registered with? - ✔✔The DLD.
✔✔What is the JOP Declaration? - ✔✔Jointly Owned Property Declaration dealing with
the common areas of the project.
1. A site plan of any common areas.
2. A description of each of the units.
3. A list of the community rules that apply in the development.
✔✔ Which law applies to
Land Registration & Ownership (Role of DLD) - ✔✔Law No. 7/2006
✔✔Which law applies to
Designated Areas
(Freehold vs Leasehold for non GCC) - ✔✔Regulation No. 3 of 2006
✔✔Which law applies to
Regulation of Real Estate Brokers - ✔✔Law No. 85/2006
✔✔Which law applies to
Establishment of RERA - ✔✔Law No. 16/2007
✔✔Which law applies to
Escrow Accounts - ✔✔Law No. 8/2007
✔✔Which law applies to
Tenancy Law - ✔✔Law No. 26/2007
Law No. 33/2008 (amendment)
✔✔Which law applies to
Jointly Owned Property ("JOPs") - ✔✔Law No. 27/2007
✔✔Which laws applies to