The Complete Process of Property Gifting or Property Transfer Trustees in Dubai

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The Complete Process of Property Gifting or
Property Transfer Trustees in Dubai
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INTRODUCTION
A gift of property is a trendy concept in the
Emirate of Dubai given the clear known advantage
of the exemption from the usual 4 transfer fee
that is payable on all the possessions transfers.
At the land department, and transfer that is made
between the first-degree relatives can be treated
as a gift transfer for the payment of the
transfer fee. The company must know what can be
classified as a gift transfer of property.
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WHAT IS THE PROCEDURE OF GIFTING?
The procedure of gifting a property here in Dubai
is as followsBy making a payment of AED 4,020,
the owner is needed to get an assessment report
on the price of the property from the land
department. From the developer of the property,
the owner should get a No Objection Certificate
(NOC). In their respective home country, the
owner and the donee are needed to generate their
first-degree relationship through an official
document made. For example, a birth certificate
will be needed to be shown as evidence of this
relationship, if the owner is the father/mother
of the donee. In the home country, any such
document must be legalized and notarized. The
document is also necessary to be translated into
Arabic and stamped by the Ministry of Justice.
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WHAT IS THE CHARGE FOR A GIFT TRANSFER OF
PROPERTY?
In the Emirate of Dubai, the charge of a gift
transfer of property is as followsAED 2000 is
the lowest gift transfer fee payable to the land
department. However, if the value of the property
is above AED 500,000, based on the assessment
certificate released by the land department-the
transfer fee payable to the land department shall
be 0.125 of the overall value of the
property.For the name title action, AED 580
should be paid.Depending upon the assessment of
the property, a fee of AED 2,000 or AED 4,000 is
chargeable to the trustee offices.At the
trustee office, once the above documents and the
charge have been paid, the trustee office would
perform the transfer of the property which would
result in the issuance of a new title deed in the
name of the donee. The donee will become the
official owner, once the new title deed has been
generated.
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Conclusion  
Above article will provide details for the
complete procedure of property gifting or
property transfer trustees in UAE. Detailed
procedure of gifting properties and charges
applicable to that is mentioned in the above
article. Source
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CONTACT US
Tawtheeq Property Registration TrusteesAddress
The Metropolis Tower - Business Bay
Dubai, UAE Phone 971
43308888Website https//tawtheeqdxb.com/ Email
info_at_tawtheeqdxb.com