Estate Planning

A foreign company (the “company”) acquired an off-plan property in Dubai before January 2011 when it was allowed for overseas companies to own real estate. The construction of the property was completed only in 2019 and the company needed to take possession of the property and obtain a Title Deed.

Technically speaking you can gift your assets including your real estate to whoever you wish, whether the beneficiary is your relative or not. However, officially, not all property gift transfers are qualified as property gifting in the eyes of regulatory authorities, i.e. Dubai Land Department (DLD).

Have you ever thought that a Power of Attorney can become invalid, even though it was for an unlimited term and even if you have not revoked it?

You may wonder why you need POA for the property gift transfer. You may expect that it is quick and easy, but it involves some steps and time-consuming.