Streamlined Declarations:
for Smooth POA Property Transaction
Prism’s Declaration Agreement service is tailored specifically for property transactions in Dubai involving a Power of Attorney (POA), where it is crucial for the seller to declare having received all cash payments for the property in advance of the transfer.
This focused service ensures compliance with Dubai Land Department (DLD) regulations, which mandate such a declaration for POA transactions to be accepted.
By providing detailed consultations and drafting customized agreements, Prism facilitates a legally binding framework that secures the transaction process, preventing future disputes and ensuring a smooth transition for all parties involved.
This streamlined approach is vital for anyone engaged in POA-based property sales in Dubai’s real estate market, ensuring clarity and compliance with local laws.
Remote Client Services and Power of Attorney
in Property Transaction
The online service provided by remote clients does not require physical presence in
Dubai to be completed
If you are unable to physically come to the UAE and need to appoint a Power of
Attorney (POA) to represent you in receiving cash on your behalf for the property
purchase price, then consider the following fee structure:
Court Fee:
A fee of 0.5% payable to the court on the overall amount declared received.
The fee cap for Notary services is AED 15,000. If the 0.5% exceeds this, it’s capped at this price point.
Administrative Fee:
An administrative fee of AED 170 per seller declaring receipt of the cash payment.
Prism Preparation Charges:
Prism charges AED 3,150 to prepare the declaration document.
