Property handover delays can happen anywhere, anytime, and with anyone. It is not something unusual but it is problematic for the investors. Handling the property handover delays is a challenging task to accomplish. This matter needs to be given extra time, attention, energy, and effort to reserve it.
In the most recent times, this issue has been further fueled by various reasons. If anyone is stuck in a similar kind of situation, this needs to be addressed. Here it is essential to understand the responsibilities and rights to defend yourself. As a result, an investor will be able to seek compensation for any sort of delays. It is significant to deal with the disappointment of not receiving the keys to your new investment on the expected day. Still, these are highly frustrating and make one furious and cast many doubts. You can also find the good Lawyers or Advocates in Dubai here.
This article is dedicated to discussing the property handover delays. We will further explain the key procedures and actions that will help in handling the delay cases in Dubai. It also elaborates on the ways to avoid it and how professional guidance can secure you in such a problematic situation.
The Process and actions for Handling Property Handover Delay in Dubai:
There are some procedures and actions that can be followed to handle such types of cases in a correct manner.
There is an inclusion of a Compensation Clause within the Contract. Therefore, whenever a contract is signed with a developer, it is ensured that a clause is added. It is a clause that is important to create a legal and valid point. It serves as a legal representation of the agreement.
In case a clause is not clearly mentioned or stated in the contract, it won’t be considered by the judges or juries. Henceforth it is pertinent to ensure the presence of the compensation clause within the agreement signed. This is useful when handling property handover delays in the region.
Usually, the Property handover is often scheduled after the completion of all the payments. Failure to make payments promptly could lead to a much-weakened position. It makes it difficult to claim compensation for the property handover delays in Dubai.
Therefore, the timely payments will demonstrate a sense of commitment to the agreement paid between the two parties. For instance, if the project has been canceled by the authority named RERA, then the compensation is dealt with differently.
Normally, the verification of the status is done with the Real Estate Regulatory Authority (RERA). It is a reputable body that takes care of such crucial matters. On the other hand, in the cases of cancellation of the project, the compensation process is tackled by the Dubai Real Estate Courts. Dubai Real Estate Courts will handle it through the liquidation committee.
It is essential to Conduct Site Visits. It is suggested that the project is regularly inspected to keep an eye on the progress of the work. Once the inspection is done after regular intervals, it makes it easy to assess the future of the project. One can conclude that the property handover delay is due to incomplete work or due to any other reason. In case, you have identified some issues, always communicate them to the developer. Together you can explore the possible solutions to the issues.
In serious cases, you can quickly file a Claim. If a person fails to de-escalate the matter in a handsome manner, you can approach Dubai Law Courts. It is often advisable to seek legal guidance from a property or a real estate attorney who can support you. He will assist you through the legal procedure in a smooth way. Besides, they are often helpful while managing your case in a more effective manner.
Lucrative Ways to Avoid Property Handover Delays:
Damage has been done and now it is the time to prevent the potential property handover delays.in this article, we will discuss the possible steps that are vital to account for when handling such matters. Research is the key. Before entering into any type of contract, detailed homework will clear out things. Thorough knowledge will assist in keeping a track record of the developer. Besides, it will also help in knowing the reputation of the developer in the market.
Furthermore, understanding the history of the property is essential to foresee the potential development in the future. This could possibly lead to an avoidance of potential problems and delays. It is crucial to register the Project with the governing body in Dubai. In the region, it is the Real Estate Regulatory Authority RERA that is responsible for it. In this way, you can secure your and the interests of the developer as well.
Moreover, the verification is equally pertinent. The process of verification is done by the DLD Dubai Land Department. It can be done online by using the website of DLD.
By Using Escrow for the Payments, delays can be avoided. It paves a way to ensure that payments are made through the developer’s legally registered escrow account. All the payments are made to the developer by involving the credible regulatory body named DLD Dubai Lands Department.
The Confirmation of the Developer’s Permits is significant. There is a need to verify that the developer has the necessary permits to work in a city like Dubai. This is a precaution that will assist in preventing financial losses. Further, it will ensure the safety of the investment.
In the end, there is a need for a thorough Review of the Contract, before signing it up. It will assist in understanding the contract and every aspect of it.
Additionally, it will ensure that all necessary clauses are included in the contract. Nonetheless, it is often crucial to always fulfill the responsibilities to avoid any sort of complications.
A Way Forward:
With the assistance of a reliable and reputable legal consultant or a lawyer, property handover delays can be managed appropriately.
They will aid in adequately following these steps. Investors can navigate property handover delays in Dubai in a more effective way. This will expedite the resolution process offering quicker results.
Nevertheless, honesty is the key in such contract dealings to avoid any inconvenience. This will go a long way in safeguarding an investor from potential losses, damages, and breaches of contract.