POWER OF ATTORNEY PROPERTY GIFTING UAE
PROPERTY GIFTING POA UAE
Property gifting, also known as “Hiba” in Arabic, is the voluntary transfer of real estate to family members or your company without consideration. The government fees for property gifting to family members are significantly lower compared to those applied for sale transfers. For instance, the Dubai Land Department charges a transfer fee of 0.125% for property gifting, while a property sale-purchase transfer incurs a 4% fee.
Under current regulations, you can gift your property to first-degree family members, including children, parents, and spouses. Additionally, it is possible to transfer a property as a gift between individuals and their companies.
Although the property gifting process may appear simple at first glance, it is actually a complex undertaking that involves several steps. Ensuring compliance with all necessary procedures is crucial.
Our expertise lies in providing top-notch property gifting services, accompanied by expert assistance in the following areas:
- Gifting Property to Children
- Gifting Property to Parents
- Gifting Property Between Husband and Wife
- Gifting Property to Company (or vice versa)
Our Property Gift Transfer Services Include:
- Dealing with and getting all necessary approvals from authorities;
- Applying for all prerequisite documents such as Affections Plans, Value Estimation Certificates, Site Plans, etc.;
- Facilitating payments of various fees, e.g. to the land department, facilities management, and developer;
- Ensuring that all taxes, fees, and costs are correctly calculated;
- Attestation of relevant documents to establish a kinship between the donor and the receiver;
- Getting all necessary No-Objection Certificates from developers and facilities management companies;
- Transferring utilities (water, electricity, gas, and air cooling);
- Representation before the Land Department at the final transfer of ownership;
- Obtaining a new title deed after the gift transfer;
Transferring property to family members involves intricate tasks that can take up to a month to complete. If you, as the donor or beneficiary, are unfamiliar with the gifting process or unable to personally attend the required formalities, our firm can serve as your representative. We will manage the entire process on your behalf, providing comprehensive assistance to both the giver (grantor) and recipient (grantee) from start to finish. Rest assured, our expertise will ensure a smooth and seamless experience for all parties involved.
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