As you already know, Dubai is becoming a hub for real estate investment, with many residential and commercial transactions recorded each year. In 2022, 122658 transactions were recorded in Dubai, which was indeed a considerable number.
With the rising demand for property, different frauds are entering the market too. Therefore, as a real estate investor, it is crucial to check the authenticity of the title deed. Wondering why? Well, to protect yourself from any fraudulent activity while taking legal ownership.
When it comes to paperwork, make sure everything is included. In this article, we are going to discuss all title deeds, their significance and the steps to verify them. Let’s begin.
A title deed is a legal document that lists all the necessary features of the property and acts as proof of property ownership. Without this document, a person cannot claim the right to property ownership, and no judgement can be made.
Don’t forget that proof of ownership goes a long way. Even after reselling, it indicates that you have acquired this property for a particular time.
The title deed contains some of the necessary information, such as -
Also, this document is the primary requirement whenever you plan to monetise the property by either giving it on rent, lease or reselling it.
Verifying the title deed is crucial due to the following reasons -
Proof of Ownership
The title deed is the most critical evidence determining a person’s property ownership. That’s how a buyer gets legal recognition to acquire the property, upheld by law. Also, it is recorded in public records with a chain of titles that shows the history of property ownership. To make it valid, it should be signed and notarized.
Legal Protection
If the title deed is verified and everything is correct as per the agreement, the buyer and seller's rights are legally protected. It states that everything complies with the law, and both parties have no underlying confusion. This means no dispute will be held because of no undisclosed liens.
Marketability
A well-defined title deed is a crucial aspect of the marketability of a property. Tenants, leaseholders, and even future potential buyers will be more interested in getting a property free of legal disputes. Therefore, by verifying the title deed, one can reduce the risk that might arise during the marketability of a property.
Prevention of Frauds
Since property frauds are common these days, and one needs to take every measure to detect and prevent such fraud. Sometimes, unscrupulous individuals sell a single property to different individuals if the seller still needs to verify the title deed. With verification, one can sit with ease.
Peace of Mind
This is the prime reason for doing so much verification and authentication. If a buyer knows that the title deed is thoroughly verified and no compilation will arise in the future, they can have peace of mind.
For your comfort and ease, we have listed down some steps which are required for title deed verification in Dubai -
Install Dubai Rest
The first step is to install the Dubai Rest App. This is an application introduced by The Dubai Land Department DLD where all the matters related to real estate are carried out. It has a secure and streamlined interface that ensures real-time updates. It is available on both Apple and Android devices.
Select Title Deed Verification
After installing the app, you need to open it and click on the service section at the bottom. From the list of the mentioned services, select ”Title Deed Verification”. Once selected, the process begins and takes you through a new window or page.
Provide the Title Deed Information
On the new window or the page, you must put in all the required information, such as the property details and title deed number. Make sure to avoid any errors correctly. Enter validate.
See the Title Deed Status
After entering all the information asked, you can see your title deed status. You can figure out whether the deed is -
Based on that, you can take the necessary steps. Also, if the deed is valid, thoroughly check the details for future reference.
Whenever you are verifying the property deed, make sure to check all these things -
Property Information
The information about the property must be mentioned, including the location, size, and description.
Property Owner Information
Here, the name and contact details of the property's current owner are written. Make sure all your details are correct.
Title Deed Date and Number
It includes the date of issuing the title deed along with a unique identification number for record-keeping purposes.
Property Type
Here, the type of property is mentioned like -
Sale Price
It determines the property's actual value and can be used for tax-rated matters.
Payment Details
It includes the payment method, whether it is one shot or installment. Here, the outstanding amount is also written.
Developer Information
If it is an off-plan property all the relevant details of the developer are written under this.
Special Clauses
It includes unique information about the restrictions, development, ownership, etc.
Signatures
Make sure both the parties and the authorities sign your title deed.
Have you seen how significant a title deed verification is? This fundamental step should not be skipped in any transaction because it is crucial for the protection of the interests of both parties.
Dubai rest app is perfect for verification of title deeds so that any potential risk can be mitigated. If you need access to this verification through the app, contact a reputable real estate agent who can help you with the steps.
Dubai Housing is the one-stop solution for many real estate investors because it always gets fair deals for them without any hassle. Even after the sale, our team is just a call away for any query or assistance.
Get in touch with Dubai Housing today!
