Duties of a Property Broker in UAE

real estate law in dubai

Duties of a Property Broker in UAE | Property Lawyers in the UAE

Being a Property Broker in the UAE is effectively being the middle man between the buyer and the seller in relation to change of ownership of a fixed asset (a property)

As per property laws of UAE, the duties and responsibilities of a broker include:

a- Verify if the property title deed is genuine
b- Keep a record of all transactions with supporting documentation
c- Not be a part of or facilitate any transaction that is against the law
d- The broker and the developer are governed under a contract that should be registered with the Dubai Land Department (DLD)
e- The broker may take copies of the documents relating to the property for the transaction
f- Confidentiality
g- As per trusteeship rules, act as a trustee on behalf of the client
h- Carry out due diligence to ensure the developer is in good standing and is registered with the DLD
i- In the event of a breach of contract, as per law the broker should give up fees or claims
j- Where more than one broker is engaged, they are to be held jointly responsible for the transactions unless otherwise specified.

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