The global interest in Dubai's real estate market has exponentially grown over the years, attracting investors and expatriates from all corners of the world. With the bustling pace of real estate activities and the influx of overseas clients, the use of Power of Attorney (POA) has streamlined property transactions at the Dubai Land Department and its Trustee Offices. In this article, we will see the significance and procedure of appointing a POA holder in Dubai.
Why Opt for a POA in Real Estate?
POA has become essential for clients, especially those residing outside Dubai or those with a packed schedule, preventing them from attending property transactions in person. The convenience of delegating responsibilities, such as completing purchase or sale proceedings without being physically present has certainly simplified the process immensely.
Facilitation of Issuing a Remote POA:
The Dubai Notary Office and licensed typing centre has developed the process so amazingly concerning issuing and also attesting POAs, particularly for clients abroad. The execution process is streamlined, through email communications with the notary office about POA drafting services. Finalization of the POA attestation in Dubai Courts is conducted via official video conferencing software, such as Zoom, typically requiring less than a 2-minute call. Clients can receive their attested POA on the same day, offering the advantage of ordering the POA online from the comfort of their residence.
If you find it challenging to be physically present for signing essential real estate transaction
documents at the Dubai Land Department, attend the appointment in the bank for your mortgage
settlement or the NOC appointment at the Developer’s office; then the remote POA issuance
facilitated by the Dubai Notary Public is your solution.
With the expertise of a Sales Progression Officer or Conveyancer, clients can navigate seamlessly through the transaction process. These professionals guide clients from deal assessment to ensuring proper documentation and obtaining approvals from the Dubai Notary Public Offices. As a result, many individuals and business entities have benefitted from this efficient and hassle-free system, concluding their real estate deals successfully from their homes' comfort.
Validity of the POA in Dubai Real Estate:
POAs issued by Dubai Notary Public come with unlimited validity for both buying and selling properties. However, these can be cancelled upon the client's request. To verify the status and validity of any POA issued by Dubai Notary Public or Dubai Courts, you can visit the official Dubai Courts website.
POAs procured outside Dubai jurisdiction have a validity of two years for selling and five years for buying properties, as per DLD requirements.
Can Brokers Hold POAs for Clients?
Clients, whether they are property owners, sellers, or buyers, can indeed entrust their brokers with a POA to oversee property transactions. However, Dubai Land Department's regulations clearly state that a broker cannot act as both an agent and a POA holder in the same deal. This prevents any potential conflicts of interest and ensures that investors' rights are protected.
Thus, it's recommended to allow the Sales Progression Officer or Conveyancer, overseeing the deal, to act as the POA holder, ensuring a smooth, conflict-free transaction.
For further insights or to address any queries on POA in Dubai, connect with our Sales Progression Officers/Conveyancers team at 00971588229107 or +971 52 983 0430 or email at [email protected] or [email protected]. You can also explore our comprehensive services on our official Fam Conveyancing website.