RERA Property Transactions and Documentation 2

Question 1

What anti-money laundering obligations apply to RERA-licensed brokers?

Accepted Answer

Customer due diligence, suspicious transaction reporting, record keeping, and compliance with UAE AML/CFT regulations for real estate transactions

Answer

RERA brokers must comply with UAE AML/CFT regulations: conducting customer due diligence (KYC), reporting suspicious transactions to the FIU, maintaining transaction records, and completing AML training.

Question 2

What tenant rights are established by Dubai Rental Law No. 26 of 2007?

Accepted Answer

Right to quiet enjoyment, protection from arbitrary eviction (12-month notice required), rent increase caps based on RERA index, and security deposit protection

Answer

Dubai Rental Law establishes tenant rights including quiet enjoyment of the property, protection from arbitrary eviction (12-month notarized notice required), rent increase limits tied to the RERA rental index, and security deposit regulations.

Question 3

What are the grounds for eviction of a tenant in Dubai?

Accepted Answer

Non-payment of rent, subletting without consent, illegal use of property, owner's personal use (with conditions), demolition or major renovation, all requiring proper notice

Answer

Legal eviction grounds include: non-payment after 30-day notice, unauthorized subletting, illegal use, property endangerment, owner's personal use (2-year prohibition on re-letting), and demolition/major renovation (with RERA approval).

Question 4

What is the Oqood system used by the Dubai Land Department?

Accepted Answer

An interim registration system for off-plan property sales that registers the buyer's interest before the project is completed and title deed can be issued

Answer

Oqood is DLD's interim registration system for off-plan properties, recording the buyer's interest in a property under construction. Upon project completion, the Oqood registration converts to a final title deed.

Question 5

What are the key clauses a RERA broker should review in a tenancy contract?

Accepted Answer

Rent amount, payment terms, contract duration, renewal terms, maintenance responsibilities, security deposit, permitted use, and termination conditions

Answer

RERA brokers should review: rent and payment terms, contract duration and renewal provisions, maintenance obligations (landlord vs tenant), security deposit amount and return conditions, permitted use, and early termination provisions.

RERA Broker Practice Test

RERA Broker Practice Test

RERA Property Transactions and Documentation 2