In order to sell property in Dubai while you’re overseas or incapacitated, you can give someone authority in acting on your behalf with the use of a power of attorney for property, business, and financial affairs. Set up a limited power of attorney, have the document notarized by a notary public in Dubai, then register with the local authorities.
Here’s how to set up your power of attorney for selling your property in Dubai:
Choose an attorney/agent to act for you
When drafting a power of attorney in UAE with the help of an attorney, you will be asked for the details of your chosen agent or attorney. An agent can be any party that you trust, may it be an individual or legal entity (business). You also have the option of appointing several agents to act with your best interests in mind. In the power of attorney document, you would also have to specific the capacity that the agent(s) is conferred for handling your personal or business affairs.
If you choose to appoint several agents, you also get to choose whether the agents are to act jointly and severally or they’re to act jointly. The term, severally, means that every agent you’ve appointed is able to use a power of attorney even when the other agent(s) is/are not there. An agent, essentially, is capable of acting independently for you. One primary benefit of having several agents that can act jointly and severally is that your agents can live a distance apart.
Financial institutions and local authorities in UAE normally ask one joint attorney or agent in being identified as the ‘leader’ or ‘lead.’ It’s also possible for you to impose a variety of conditions and restrictions on your attorneys. Be very careful when you’re appointing one sole agent with the same person co-owning a property with you. In case you lose mental capacity, the agent can choose a different person in acting as the trustee prior to the property being sold.
Get the approval of certificate providers
A power of attorney in UAE has to be signed by an approved certificate provider in UAE, often a doctor, in order for the professional to attest your capacity and understanding on the weight of a crucial document, such as a property and financial power of attorney in UAE. The certificate provider will also have to sign off on the attorneys or agents that you have chosen to act for you.
Have the document notarized
Notarization of a power of attorney in Dubai is a must. The process of notarizing a Dubai power of attorney will make the transaction official. This means it will be considered as legally binding. A public notary in Dubai who is licensed and certified can also ensure that your document is recognized by local authorities.
As a public notary in Dubai ensure that the signatures on the power of attorney are valid and are above reproach, you will be able to protect yourself, most especially from potentially costly contract disputes. When you commission a reputable public notary in Dubai, you will be working with professionals who will check the strength and validity of the contract in order to keep litigation at bay.
Notify the persons/institutions that need to be told
You will be asked in identifying the people and institutions that are to be told regarding the appointment of an agent with the use of a power of attorney in Dubai. As you will be using a power of attorney to sell property in Dubai, you will have to notify the Dubai Real Estate Regulatory Agency and local banks. Remember: you would also have to give them certified copies of the property power of attorney upon the document’s execution.
Have the document attested
This applies to a power of attorney that was created overseas or outside of UAE. The attestation of documents, including a power of attorney for selling property and real estate in Dubai, is quite a long and complicated process. It involves notarization in the country where the document was created, approval and attestation by the Ministry/Dept of Foreign Affairs in the country where the document was created, certification and attestation by UAE embassy in the country where the document was created, then certification and attestation by the UAE Ministry/Dept of Foreign Affairs.
If the power of attorney is using a different language aside from Arabic, then the entire document has to undergo Arabic translation as well. The translation has to be done by an official and licensed translator in UAE. The last step is attestation by the Ministry of Justice in UAE.
All these can be carried out by professionals for you. To know more about how to set up a power of attorney in Dubai, including its notarization and attestation in UAE, contact notary experts like Notary Public Dubai today!