Excessive Variation: RERA Steps in to Protect Purchasers
Court Ruling: Buyer`s Default to be Determined Exlusively by Court
If the purchaser breaches any of the terms of the sale contract of the Real Property Unit concluded with the developer, the developer must notify the Department of such breach, and the Department must give a thirty (30) days’ notice to the purchaser, in person, by registered mail or by email, to fulfil his contractual obligations.
By rendering the repossession without issuance of a court order a unilateral termination of contract from the developer`s side, the latter becomes liable to repay any downpayments received towards purchase of the respective unit to full extent.
The discussed provisions add another two elements to Dubai`s increasingly mature and complete legal property market framework, predominantly protecting purchasers` and end-user`s rights. By passing the recent ruling (and clarification in the case of RERA) Dubai could not send a clearer message about its sincere intention of putting foreign capital at ease in the Emirate`s property market.