One (1) working day per transaction (this doesn’t include the Notary’s approval).
Five (5) hours (this doesn’t include the Notary’s approval).
The mortgage contract service enables you to prepare a contract under which either party can allocate a specific property under the disposal of his creditor or any third party.
- Submit the application and the required documents through available channels
- Pay the applicable fees when the request is approved
- Approach the Notary Public for signature and receipt of the attested mortgage contract
- Original identity card + a copy for the records
- The document “contract” to be attested: one copy for each concerned party + a copy for the records
- In case of proxy, a notarised power of attorney; original for review+ a copy for the records
Notary Public Fees (not including our charges)
- For any contract/ document of less than AED 50,000 or of unspecified value: Fee AED 500.
- For any contract/ document of more than AED 50,000 and less than AED 200,000: Fee AED 1,000.
- For any contract/ document of more than AED 200,000: Fee 0.5% of the document value, capped at AED 20,000.
Special Conditions / Important Notes
- Presence of the applicant before the Notary Public.
- If the applicant is a representative of a principal, he should bring his original POA, comply with the powers granted to him by his principal, and have the right to appoint others.
- If the document is not in Arabic, it should be translated by a legal translation office certified by the Ministry of Justice.
- Any document issued outside the country must be authenticated by the competent authorities (Ministry of Foreign Affairs).
- The POA clauses shall be clear and explicit, without any erasure or deletion.
- The said mortgage contact refers to what is known as a charge, whereas the security mortgage is not permitted under this service because it is related to a real property.
- In exchange of the charge, there should be a fixed payable debt or promised debt which should be defined at the time of the mortgage.
- The mortgagor and mortgagee may agree to put the charge in the possession of a third party (justice)
- If the mortgaged property was a retail shop, an announcement in a daily newspaper for 14 days must be published.
There are no reviews yet.