RERA RERA Regulations and Dubai Real Estate Law 2

Question 1

What are the RERA requirements for a real estate broker license in Dubai?

Accepted Answer

Complete the RERA-approved broker course, pass the examination, obtain a broker permit linked to a licensed brokerage firm

Answer

No license is required to broker property in Dubai

Answer

Only a trade license is needed

Answer

Any real estate agent from another country can practice immediately

Question 2

What is Law No. 26 of 2007 regarding real estate ownership in Dubai?

Accepted Answer

It establishes the right of foreign nationals to own freehold property in designated areas of Dubai

Answer

It prohibits foreign ownership

Answer

It only applies to UAE nationals

Answer

It regulates construction only

Question 3

What is the difference between freehold and leasehold property in Dubai?

Accepted Answer

Freehold grants permanent ownership of land and property, while leasehold grants the right to use the property for a specified period (typically up to 99 years)

Answer

They are the same thing

Answer

Leasehold is more valuable than freehold

Answer

Only UAE nationals can own freehold

Question 4

What are the RERA rules on advertising properties in Dubai?

Accepted Answer

Properties must have a valid Trakheesi permit number, accurate information, no misleading claims, and comply with RERA advertising guidelines

Answer

No rules exist for property advertising

Answer

Any advertising is permitted

Answer

Only print advertising is regulated

Question 5

What is the Real Estate Escrow Account Law and its purpose?

Accepted Answer

Law No. 8 of 2007 requires developers to deposit buyer payments into escrow accounts managed by approved banks, protecting buyer funds during construction

Answer

It regulates broker commissions

Answer

It is a savings scheme for investors

Answer

It only applies to commercial properties

Question 6

What penalties can RERA impose on brokers who violate regulations?

Accepted Answer

Fines, license suspension, license revocation, and referral for criminal prosecution for serious violations

Answer

Only verbal warnings

Answer

No penalties exist

Answer

Only a small fine