Key Takeaway
Power of Attorney (POA) streamlines property transactions, offering convenience to remote clients.
Dubai’s Notary Office and Conveyancers facilitate hassle-free POA issuance, even via video conferencing.
Experienced professionals ensure smooth, conflict-free transactions, safeguarding investor rights.
The global allure of Dubai’s real estate market has attracted investors and expats from around the world. With the surge in real estate activities and the influx of overseas clients, the use of Power of Attorney (POA) has revolutionized property transactions at the Dubai Land Department and its Trustee Offices. In this article, we’ll delve into the significance and process of appointing a POA holder in Dubai and how it simplifies your real estate journey.
Why Opt for a POA in Real Estate?
POA has become indispensable for clients, especially those living outside Dubai or dealing with hectic schedules that prevent them from being physically present during property transactions. The convenience of delegating responsibilities, such as completing purchase or sale proceedings remotely, has significantly streamlined the process.
Facilitating Remote POA Issuance:
Dubai’s Notary Office and licensed typing centers have streamlined the process for issuing and attesting POAs, especially for clients abroad. The process is incredibly efficient, involving email communication with the notary office for POA drafting services. The finalization of POA attestation in Dubai Courts occurs via official video conferencing software, such as Zoom, typically requiring a brief 2-minute call. Clients can receive their attested POA on the same day, offering the convenience of ordering the POA online from the comfort of their homes.
If attending appointments at the Dubai Land Department, settling your mortgage in a bank, or attending the NOC appointment at the Developer’s office presents challenges, then the remote POA issuance facilitated by the Dubai Notary Public is your solution.
Guided by Experts:
With the guidance of experienced professionals, clients can seamlessly navigate the transaction process. These seasoned experts assist clients from assessing deals to ensuring proper documentation and obtaining approvals from the Dubai Notary Public Offices. As a result, individuals and businesses have reaped the benefits of this efficient and hassle-free system, successfully concluding real estate deals from the comfort of their homes.
Validity of POA in Dubai Real Estate:
POAs issued by Dubai Notary Public carry unlimited validity for both buying and selling properties. Clients can request cancellations if needed. To verify the status and validity of any POA issued by Dubai Notary Public or Dubai Courts, you can visit the official Dubai Courts website.
POAs issued outside Dubai jurisdiction have a validity of two years for selling and five years for buying properties, in accordance with DLD requirements.
Can Brokers Hold POAs for Clients?
Clients, whether property owners, sellers, or buyers, have the option to entrust their brokers with a POA for overseeing property transactions. However, Dubai Land Department regulations stipulate that a broker cannot act as both an agent and a POA holder in the same deal. This measure prevents potential conflicts of interest and ensures the protection of investors’ rights. Therefore, it is advisable to allow the Sales Progression Officer or Conveyancer overseeing the deal to act as the POA holder, ensuring a smooth and conflict-free transaction process.
In conclusion, the Power of Attorney is a powerful tool that simplifies real estate transactions in Dubai, making them more accessible and efficient for clients worldwide. Experienced experts are here to guide you through the process, ensuring a seamless and transparent experience in the Dubai real estate market.