Ownership of property in dubai and gifting it to your wife or children this is a question many investors worry about and don’t have clarity at all about the process laid out by dubai land department hi this is arshad mulla here from sparefoot real estate and today i’m going to explain to you the process for including your wife and children in your property or transferring it to their name later on.
First and foremost please make sure that you buy a property which has a freehold title you can buy it in your name or include your spouse as part owner of the property from the beginning the advantage of having it in both names is that the joint owners get the first preference in case one needs to sell the property for any reason that might come up.
Now imagine you have paid the four percent dld fees and have the property under your name you can gift it to your wife or children by paying just 0.25 percent of the value and add or transfer the title within the family so for example it’s a one million dirham property and you pay 2500 dirhams and transfer with an immediate family.
Also important to note for your children’s name to be included in the property is that the minimum age for purchasing a property in Dubai is 21 years though a minor child may be represented by parents or legal guardian in a purchase transaction however to sell a property you have to have a court order obtained we do dubai property for a living and we are extremely knowledgeable and passionate about what we do so if you or any of your colleagues family or friends can benefit please pass on my contact details to them.