RERA Mortgage & Finance in Dubai Real Estate 2

Question 1

Before selling a mortgaged property in Dubai, what must the seller typically obtain from the mortgage lender?

Accepted Answer

No Objection Certificate (NOC)

Answer

Ejari certificate

Answer

Title deed clearance form

Answer

DLD approval letter

Question 2

Which Islamic finance structure involves the bank purchasing the property and reselling it to the buyer at a marked-up price paid in installments?

Accepted Answer

Murabaha

Answer

Ijara

Answer

Diminishing Musharaka

Answer

Wakala

Question 3

A UAE national is purchasing their first property valued at AED 8 million. What is the maximum mortgage amount the bank can offer?

Accepted Answer

AED 5,600,000

Answer

AED 6,000,000

Answer

AED 6,400,000

Answer

AED 7,200,000

Question 4

If a mortgaged property buyer defaults in Dubai, what is the bank's legal remedy under UAE law?

Accepted Answer

Initiate court proceedings to foreclose

Answer

Immediately seize the property

Answer

File a complaint with RERA

Answer

Contact DLD to cancel the title deed directly

Question 5

What is the Ijara structure used in Islamic mortgage finance in Dubai?

Accepted Answer

A lease-to-own arrangement

Answer

Co-ownership with gradual equity purchase

Answer

A cost-plus sale arrangement

Answer

A profit-sharing investment partnership

Question 6

Which federal UAE law specifically governs the creation, registration, and enforcement of mortgage transactions on real property?

Accepted Answer

Federal Law No. 14 of 2008

Answer

Law No. 7 of 2006

Answer

Law No. 26 of 2007

Answer

Cabinet Resolution No. 13 of 2008

Question 7

A non-UAE national purchases an off-plan apartment in Dubai for AED 2 million. What is the maximum mortgage amount the bank can provide?

Accepted Answer

AED 1,000,000

Answer

AED 1,200,000

Answer

AED 1,400,000

Answer

AED 1,500,000