Explaining everything about Title Deed and Oqood in Dubai

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The difference between Oqood and Title Deed

Oqood and Title Deed are two different terms used to refer to property ownership in Dubai. Oqood is a temporary ownership document issued by the Dubai Land Department (DLD) to property buyers once they have signed a purchase agreement. It is a binding document that gives the buyer the right to occupy and use the property until the title deed is issued. Oqood is issued to properties referred to as “off-plan” properties. Once they’re completed, the Oqood will be shifted into a Title Deed.

A title deed is a permanent ownership document that is issued by the DLD once the property sale has been completed and all payments have been made. It is a legal document that proves the buyer’s ownership of the property and gives them the right to sell, rent, or mortgage the property.

What is title deed used for

A title deed is used for a variety of purposes, including:

– Proof of ownership: A title deed is the most reliable proof of ownership of a property in Dubai. It can be used to prove ownership to the authorities, lenders, and other third parties.

– Sale and rental: A title deed is required to sell or rent a property in Dubai.

– Mortgage: A title deed can be used as collateral for a mortgage.

– Inheritance: A title deed is used to transfer ownership of a property to heirs upon the death of the owner.

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How to get a Title Deed when buying a property in Dubai

To get a title deed when buying a property in Dubai, you must follow these steps:

Sign a purchase agreement: Once you have agreed to buy a property, you will need to sign a purchase agreement with the seller. This agreement will outline the terms of the sale and include a schedule for the transfer of ownership.

Make all payments: Once you have signed the purchase agreement, you need to make all payments that are due to the seller, including the purchase price, transfer fees, and any other applicable fees.

Submit the transfer application: Once all payments have been made, you can submit a transfer application to the DLD.

The application will need to be accompanied by the following documents:

– Signed purchase agreement

– Original Emirates ID card or passport (for UAE residents and non-residents, respectively)

– Original passport copy (for non-residents)

– Power of attorney (if you are not submitting the application in person)

Pay the transfer fees: Once the DLD has reviewed your transfer application and approved it, you will need to pay the transfer fees. The fees vary depending on the type of property being transferred.

Receive the title deed: Once the transfer fees have been paid, the DLD will issue the title deed in your name. The title deed will be mailed to your address in Dubai.

It usually takes a few weeks to process a transfer application and issue a title deed. However, the process may be faster if you submit all of the required documents and pay the transfer fees promptly.

If you have any questions about how to get a title deed when buying a property in Dubai, contact us for more information.

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Frequently asked questions

Off-plan refers to the purchase of real estate properties that are still under construction or development, allowing buyers to invest in a property before it is completed and ready for occupancy.

Investing in off-plan real estate in the United Arab Emirates offers the potential for attractive returns and early access to emerging property markets.

Investing in off-plan real estate carries the risks of construction delays, changes in market conditions, and potential uncertainties in the final property outcome.

When investing in off-plan real estate, you may encounter additional expenses such as administrative fees and property registration costs (4% Dubai Land Department registration fee).

Brostrom Properties can assist you in identifying the ideal off-plan investment property by leveraging our expertise and tailored market insights to match your specific investment goals and preferences.

To begin your off-plan real estate investment journey in the United Arab Emirates, simply reach out to Brostrom Properties, and we’ll guide you through the process step by step, making it easy and accessible for you.

Still have questions? Contact us for more information