A check is, in fact, a payment guarantee, which is considered a financial obligation to pay the amount indicated on the check to the name of the person named on the check. Those. it's the same money, only with a deferred payment. The date when the check can be cashed at the bank is indicated on the check itself. Therefore, checks with future dates cannot be cashed before the specified date but can be cashed later than the specified date, if this occurs no later than 6 months from the date of the check issued.

To cash a check, the landlord must present it to the bank. Issuing checks that are empty of money at the time of cashing out (unsecured checks) is considered a criminal offense in the UAE. At the same time, at the time of issuing checks, you may not have the full amount in the account, but at the same time, you must do everything possible to ensure that these funds are available at the time of cashing out. This measure is a way to protect landlords and a convenient deferred payment tool for tenants.

Often, a clause is written in the contracts about what happens if the check is unsecured or not accepted by the bank (usually the amount of the fine is indicated). A check may not be accepted if the signature on the check does not match the signature of the account holder, for example, or if the check itself is incorrectly filled out. Be sure to check the spelling of the name on the check, it must exactly match the spelling of the name in the passport, otherwise, the check will be rejected.

A real estate lease agreement in Dubai, UAE can only be concluded with an individual or legal entity that (a) has the status of a resident in the Emirates; or (b) with an individual who is a citizen of the UAE; or (c) with a citizen of a country that is a member of the Cooperation Council for the Arab States of the Gulf (GCC).

An individual is recognized as a resident if he has a resident visa of the United Arab Emirates and an identity card of the United Arab Emirates (Emirates ID).

A legal entity is recognized as a resident if it is registered in the territory of the United Arab Emirates, regardless of the emirate and the form of registration: it can be an offshore, free economic zone (free zone) or a local company.

Fee 1. 4% (four percent) of the value of the property. This is the required fee that is required to be paid to the Land Department in order to process the transfer of ownership of real estate in the UAE from one person to another.

Fee 2. 4,000 AED (four thousand dirhams), which is equivalent to approximately 1,100 US dollars, is required to be paid to the Authorized Office of the Land Department (Dubai Land Department Trustee Office).

Fee 3. ~400 AED (four hundred dirhams), which is equivalent to approximately 110 US dollars, is required to be paid to the Land Department for issuing an updated Certificate of Title.