Real estate gifting (also known as “Hiba” in Arabic) is a voluntary transfer of a real property, or part of it, from an individual to another individual, from an individual to a company, or from a company to an individual. Government fees are significantly less for transferring a property as a gift as opposed to transferring it by way of sale and purchase. For instance, Dubai Land Department transfer fee for a real estate gift transfer is 0.125% instead of 4% that is applicable in a sale-purchase transfer.
Although on the surface the gift transfer may appear not complicated, but in reality, it is a complex process that involves obtaining numerous approvals and steps, which is normally a time-consuming process.
So, in the event that you (whether you are a donor or a beneficiary) are not able to handle your real estate gifting in person, for instance, due to your busy schedule or if you are outside the UAE, then look no further. We can act as your legal representative with a Power of Attorney to represent your interests before the relevant authorities and handle the whole gift transfer process on your behalf.
You can use our real estate gift transfer services whenever you are:
- gifting a property to your children;
- gifting a property to your parents;
- receiving a property as a gift;
- transferring a property to your company’s name (or the company owned by your parents/children);
- transferring a property from a company to your name or to your parents/children;
Our real estate gift transfer services include:
- Preparing a gift deed/agreement between the donor(s) and the donee(s);
- Dealing with and getting all necessary approvals from relevant authorities;
- Obtaining all prerequisite documents such as Affections Plans, Value Estimation Certificates, Site Plans, etc. from relevant authorities;
- Facilitating payments of various fees, e.g. to land department, facilities management, developer, etc. and ensure that all taxes, fees and costs are correctly calculated;
- Attestation of relevant documents to establish a kinship (i.e. birth or marriage certificates or company documents);
- Getting all clearances from developers and facilities management companies (including facilitating payment of any outstanding service charges);
- Completing all paperwork in relation to utilities (water, electricity, gas, air cooling) including registration, cancellation and transfer of utilities;
- Representation before the Land Department at final closing and transfer of the title;
- Obtaining a new Title Deed after the gift transfer;