Registration Of Lease Ending With Ownership

It is the process of transferring a real estate or a completed real estate unit from the name of the owner to the name of the bank, provided that the real estate shall be transferred after the expiry of the lease period to the beneficiary.

Required Documents

    Individuals

  • The original title deed and site plan or ownership certificate for the real estate unit.

  • Proving the identity of the customer or his representative legally.

  • A letter from the bank registering the real estate or real estate unit with leasing and the leasing contract concluded between the parties.

  • Objection certificate from the developer of the real estate unit.

  • Business

  • The original title deed and site plan or ownership certificate for the real estate unit.

  • Proving the identity of the customer or his representative legally.

  • A letter from the bank registering the real estate or real estate unit with leasing and the leasing contract concluded between the parties.

  • Objection certificate from the developer of the real estate unit.

  • Establishment contract and commercial license for institutions and companies.

Process

  • 1 Submitting the application request and required documents through the E-services portal
  • 2 Reviewing and approving the application by the concerned sections in AjmanRe Department
  • 3 Fees Payment
  • 4 Receiving the title deed/certificate during the official working hours from AjmanRe Department headquarters

Service fees

  • 2% or AED 2,500.00 as a minimum per real estate unit

  • 2% citizens and citizens of the States of the Gulf Cooperation Council or AED 2,500 as a minimum per real estate

  • 3% for non-citizens or AED 3,000 as a minimum per real estate, with the ownership fees.

  • AED 350 fees for issuing of title deed and site plan or ownership certificate of a real estate unit.

  • AED 350 issuance of lease certificate ending with ownership

Service Duration

  • 9 Minutes