Real estate is a popular investment option in Dubai, and while it’s critical to keep an eye out for and recognise good chances, it’s also critical to keep an eye on the paperwork.
Being a wise investor entails conducting thorough research before investing your money, time, and effort in a property. Before placing a security deposit cheque and signing a contract, as a buyer or a tenant.
You must verify the authenticity of proof of ownership to ensure that the property is free of encumbrances, court cases, or other legal impediments. You should be able to spot the indicators of investment fraud as well.
What is a Title Deed?
A Title Deed is the only document that serves as proof of ownership of a property in Dubai. The Title Deed will be in your possession if you own the property outright.
If you have a mortgage on the property, the original Title Deed will be held by the bank, and the property owner will receive a copy of the document. You can process your DEWA (electricity and water), rent out your property, and register a tenant’s Ejari and telecommunications with the Title Deed copy.
So, whether you plan to sell your property soon or not, we recommend everyone to download the latest digital copy of their title deed directly from the Dubai Land Department system by using the Dubai REST App. This ensures that you have the most up-to-date ownership document for your property, whether you have owned it for one month or ten years.
What is the Dubai REST App?
Dubai Land Department (DLD) was founded in May 1960 to establish the real estate sector in the Middle East and for international real estate investors.
DLD provides outstanding services to all its customers whilst developing the necessary legislation to propel the real estate sector in Dubai, organizing and promoting real estate investment, and spreading industry knowledge.
DLD has active organizations that include: RERA, the regulatory arm, Real Estate Investment Management & Promotion Center, Dubai Real Estate Institute, the educational arm, and Rental Dispute Center, the judicial arm.
Dubai REST app (Dubai Real Estate Self Transaction) is a complete digital platform to manage end-to-end real estate activities by owners, tenants and other service providers.
Dubai REST is a key project under the 10X project initiative by the Dubai Future Foundation, under the guidance of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.
Dubai REST is targeted to completely go paperless, and fulfil real estate transactions completely online without any visit to any government offices.
Difference Between Property & Title Deed
You would hear a lot of real-estate jargon thrown around when you buy a property. Those who don’t know much think of Property Deeds and Titles as the same things. However, both of them are two different legal concepts.
Simply put, when you own a property entirely, you possess both the Deed and Title. But the Title tends to be a bit distinct from a Deed. You can get confused and face problems if you are not aware of what you are using. There are many benefits of buying property in Dubai.
A title deed includes:
- Property description — the property’s boundaries, exact location, and size of the property.
- Name and identity number of the legal owners of the property. On the title deed, there can be multiple owners.
- The property’s most recent transfer date.
- The property’s buying price (if it was bought from another person).
- Factors that could make the property difficult to sell.
- Factors that could restrict the purchase of the property.
- Seal of the Deeds Registry Office to demonstrate that the deed has been recorded in the name of the owner and date.
Significance of Authenticity of Title Deed
Real estate is a growing industry in Dubai, and it is one of the main drivers of increased investment in the economy. As a result, in addition to having a sharp eye for the perfect opportunity at the right time, you must be careful with the documentation.
Investing necessitates awareness and consideration of where you put your effort, time, and, of course, money. You must ensure that the proof of ownership is in order, such as the title deed for completed properties and Oqood (interim title deed) for off-plan properties.
Consider this a requirement before depositing the security deposit amount. You must be assured that the documents are authentic and that the property is clear of any court cases or legal obstacles.
On the one hand, real estate can be quite profitable, but it can also be extremely hazardous. As a result, make sure you’re aware of any warning indications that point to an investment scam.
The Dubai Land Department (DLD) will offer you the necessary help. Anyone can now inspect and certify the legitimacy of the Title Deed in this manner. The purpose is to increase transparency and adhere to professional guidelines.
Step-by-step Guide for Checking The Title Deed
Checking the authenticity of your title deed is just one click away, so make sure it is the first step in investing right.
How to check the authenticity of your title deed:
- To begin, go to the app store on your mobile device and download the Dubai REST Application, or visit the DLD website.
- Select the Title Deed Verification option from the Dubai Rest or DLD website’s homepage.
- You are required to provide some information on the title deed, like:
- Certificate Number: You can find it below the barcode or QR code of the title deed. For Oqood, find the Contract Number.
- Certificate Year: You can find it below the barcode or QR code of the title deed. For Oqood, find the contract year.
- Property Type Specify: Land, Unit, or Villa
- Owner’s Name
- Now, to see the status of the Title Deed, click on the Validate tab. You would know whether it is blocked, invalid, mortgaged, restrained, or valid.
That’s about it. Make sure that you do this simple step before you decide to invest in properties in Dubai.
We hope this article helps you get an idea of what a title deed is all about! If you have no idea where to begin, contact ZāZEN Properties at +97150 170 9376 for more information. ZāZEN Properties has delivered its first sustainable community development in the established Jumeirah Village Triangle community of Dubai, with over 85% already sold.