With a joint ownership agreement, owners can outline how they plan to purchase, finance, maintain, and potentially sell their property. The agreement may also define provisions regarding what happens in the event the terms are breached.
In the Emirate of Dubai in the UAE, JOP (Jointly Owned Property) was clarified by Law No. 27 of 2007, which was eventually implemented in 2008. The law helps establish a transparent blueprint for regulating strata developments and individual unit ownership.
Our lawyers are proficient in this law and use it to help the owners of residential, commercial, office, and retail buildings protect themselves legally while meeting their unique goals. In addition, we assist with contractual schemes and other viable alternatives if necessary.
Joint Ownership of Property Services
- Structures of Ownership: Creating joint ownership structures for freehold and leasehold real estate.
- Associations and Service Charges: Preparing robust and transparent frameworks for owners’ associations and service charges, including utilities and facilities management.
- Contractual Services: Assisting with legally sound documents pertaining to building management, disclosure statements, JOP Declarations, utilities services, and facilities management.
- Dispute Resolution: Resolving disputes arising under JOP Law through mediation, arbitration. or litigation.
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Interested in learning more about our joint ownership of property legal services? Contact Al Wifaq Legal today to speak to our experienced joint ownership of property lawyers today. We look forward to hearing from you!