For Property Gifting Contact Compton Conveyancing
Compton Conveyancing is the number one conveyancing company in Dubai offering its services in real estate. We are an expert in Dubai real estate helping all our clients in buying and selling properties and also assist them in all the legal proceedings involved in it.
We handle the entire process from start to finish in the most efficient way and give our expert advice and knowledge to all the parties involved in the real estate transaction. We collaborate with other law firms and offer full legal services that include escrow, rental disputes, arbitration and litigation, etc. apart from buying and selling a property.
We are one of the most experienced real estate conveyancers in Dubai which not only acts as a bridge with all the financial institutions and banks but also helps in settling the outstanding loans and pre-registering the property with the Dubai Land Department to safeguard the interest of all the related parties. We help our clients with every type of transaction possible and facilitate all legal matters in a smooth way.
Gifting Real Estate
Gift transfers are very popular in Dubai for inheritance and succession purposes particularly as Sharia Law prevails. Gifting property in the UAE typically refers to adding or removing a name from a title deed, thereby resulting in the ownership of the property being transferred into the name of another family member. This is typically due to the necessity to safeguard the property from certain inheritance regimes. Properties are gifted either within families or into Dubai registered offshore companies.
For Families in order to qualify for a gift transfer, the property must be transferred among first-degree relatives only, which means parents, or children. It does not include transfers between siblings. Property owners may choose to transfer property to certain family members in order to avoid the sharia law distribution that would otherwise result, and in order to simplify succession issues.
For example, a husband may transfer his share of a property to his wife, in order to avoid his siblings from inheriting his share of the property. In other cases, a spouse is being removed as a result of a divorce settlement.
For Company Transfers in those situations where the owners wish to maintain their ownership of the property, and yet avoid the sharia law application, a company set up is the recommended course of action. This way, the property can be transferred into the ownership of a company outside of the UAE, and thereby avoid the inheritance laws of the UAE. The company’s shareholders are the individuals who formerly owned the property, and therefore, they continue to indirectly own the property through an entity outside of the UAE. This type of ownership structure allows existing owners to continue to exercise control, and effectively ownership, of their properties in the UAE.
Due to the very low transfer fee for gift transfers, many individuals choose to go down this route. Company transfers are an especially effective tool for setting up a permanent estate planning regime for future generations, one that your children can continue to benefit from, and even transfer their future assets into as well.
Anyone who is buying or selling a property or is Gifting Property to a spouse or any other family member should use a conveyance company like us who will handle all the legal aspects involved, as well as the attestations and various processes that are needed. Even those who are applying for their initial title deed also should appoint Compton Conveyancing in order to make a smooth and safe transaction.
With our partners, we do proper planning with full legal services to cover all the situations and disputes without any delay. We look into your transaction right from its inception to its finish, determining all the possible problems and predict the loopholes and act accordingly in the most competent way likely.
So, if you are keen on Gifting Real Estate to your loved ones or to your company without any stress and to be sure your inheritance and family planning are taken care of then consult with us. Feel free to call us or send us an email and we will be glad to help you with our legal services.