• December 10, 2022
  • Posted by: Philip Smith
  • Category: Property Gifts
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Property Gifting in The U.A.E

Overview

Property gifting, also known as a Hiba transfer refers to the addition or removal of a name from a title deed resulting in a subsequent transfer of ownership into the name of another person or entity.
There are several reasons why one may choose to gift property in the U.A.E however the most common ones by far are asset protection and inheritance.

For non-Muslims in particular, Sharia law can prove ambiguous when it comes to settling these kinds of matters, and as such, the process of gifting property removes the legal uncertainty that accompanies this law system in a relatively affordable manner.

Property gifting is also useful in removing a party’s ownership in the event of separation in a divorce settlement or to ensure that the first-degree relative inherits ownership i.e. succession planning. The main reason why Hiba transfers are so popular is because unlike, a property sale —a Hiba transfer benefits from a gratuitous or discounted fee.

For those interested in the gifting process, it is imperative to understand the nuances that come with it in order to take full advantage of its benefits. For example, property gifting can occur only between first-degree relatives, siblings are not considered first-degree relatives when it comes to gift transfers, off-plan properties cannot be gifted, gifting properties that are mortgaged is uncommon but can be done for a higher fee—there are small but impactful details that can make gift processing truly worthwhile.

It is also possible to gift property to and from a company and although this process is slightly more intricate, it is a popular service for those individuals who are interested in protecting their assets and reducing both costs and potential liabilities as part of their business strategy.

Required Documents

Just so you don’t have to worry about it, we have put together a list of documents that you will need to complete a regular Hiba Transfer (Tamleek):

  • Original Title Deed
  • Affection Plan
  • Value Estimation Certificate
  • Proof of Kinship (i.e. marriage and or birth certificates)
  • Declaration of Grant and Letter of Transfer
  • Personal Identification Documents
  • Power of Attorney documentation in the event that you are not able to be there physically

Get in touch with one of our specialists at info@yourpoadubai.com or +971 4 559 0114 to find out more about Hiba transfers, Power of Attorney Documentation and how much everything costs. We are here to help!

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Author: Philip Smith
Philip Smith, LL.B. (Hons.): Founder & Principal of Your POA – The Leading Power of Attorney Company in Dubai and the UAE

Experience the expertise of Philip Smith, the highly-regarded Founder and Principal of Your POA, the premier Power of Attorney company in Dubai and the UAE. Boasting an exceptional legal background, Philip has earned a reputation for his outstanding market knowledge, trustworthiness, and discretion. As an authoritative expert in UAE property matters, strategic advisory, and corporate services, he has advised a diverse range of high-profile clients, adeptly safeguarding their interests while accomplishing their individual objectives....

Philip holds an LL.B. (Hons.) degree and possesses extensive hands-on experience in the UAE. His comprehensive skillset covers property conveyancing, power of attorney representation, private client management, strategic advisory services, business consultancy services, corporate service operations, market entry, asset protection, legal matters, regulatory compliance, real estate, corporate structuring and re-structuring, company administration, and legacy planning.

In addition, Philip's expertise encompasses real estate acquisitions, structuring, ownership transfers, property management, portfolio and account management, corporate structuring and re-structuring, company administration, legacy planning, and asset protection for entrepreneurs and growth companies. This impressive range of skills ensures his clients receive the highest standard of service, tailored to their specific needs.

As the leader of Your POA, Philip directs a dedicated team of professionals committed to upholding his values of excellence and discretion. Together, they have solidified Your POA's position as the top Power of Attorney company in Dubai and the UAE, offering customised services that consistently exceed client expectations.

Place your trust in the proven expertise and impeccable reputation of Philip Smith and the team at Your POA. With an unwavering commitment to understanding and achieving your objectives, and a discreet approach that prioritises the protection of your interests, you can be confident that your affairs are in the hands of seasoned professionals. Philip's wealth of experience and in-depth market knowledge make him the ideal partner for navigating the intricacies of the UAE property and corporate services landscape. Read more