Property Gifting
Property Gifting – Real estate is given or donated voluntarily to a family member or business, without receiving anything in return (also referred to as Hiba in Arabic). Government fees are much lower when giving property to family members than when it is sold and transferred. For instance, the transfer fee charged by the Dubai Land Department for gifting property is 0.125% rather than the 4% charged for sale-purchase transfers.
You are permitted to give your property to members of your first-degree family, which includes your spouse, parents, and children. Additionally, a property can be given by an individual to his or her company.
Although the process of gifting property may appear straightforward on the surface, it is actually a complicated one that requires many steps to be followed.
Property Gifting
- Giving children property.
- Giving Parents Property.
- Giving Property to Wife and Husband.
- Giving a Company a property.
Among our real estate gift transfer services are:
- Dealing with authorities and obtaining the required clearances.
- Requesting all necessary papers, such as site plans, value estimation certificates, and affections plans.
- Facilitating the payment of various fees, such as those owed to the developer, facilities management, and land department.
- Ensuring accurate calculation of all taxes, fees, and costs.
- Certification of important records to prove a relationship between the donor and the recipient.
- Obtaining from developers and facility management firms all necessary noobjection certificates.
- Changing utility providers (water, electricity, gas, and air cooling).
- Representation at the time of the final transfer of ownership before the Land Department.
- Obtaining a new title deed following the transfer of the gift.
As a result, giving property to family members entails difficult tasks and may require a month to finish.
Property Gifting – You can therefore name our firm as your representative and we will handle the entire process on your behalf in the event that you (as a donor and/or a beneficiary) are unaware of the procedure for gifting property or are unable to attend the required formalities personally.
For more information please email us at info@onlinepoa.ae
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