Dubai RERA Broker Exam

Terms in this set (80)

Which law applies to Law No. 7/2006

Land Registration & Ownership
(Role of DLD)

Which law applies to Regulation No. 3 of 2006

Designated Areas
(Freehold vs Leasehold for non
GCC)

Which law applies to Law No. 85/2006

Regulation of Real Estate
Brokers

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Which law applies to Law No. 16/2007
Establishment of RERA

Which law applies to Law No. 8/2007

Escrow Accounts

Which law applies to Law No. 26/2007

Tenancy Law Law No. 33/2008 (amendment)
Which law applies to Law No. 27/2007
Jointly Owned Property
("JOPs")

Law No. 13/2008

Which laws applies to
Law No. 9/2009
Interim Pre-Title Register
Decree No. 6/2010

Which law applies to Law No. 14/2008

Mortgage Law

Which laws applies to Decree No. 1/2009

Rentals Increases / Decreases Decree No. 2/2001

What does a transaction that is A Breach of the Criminal Code, which could lead to
concluded contrary to Law 7 of prosecution and professional sanctions.
2006 result in?

1. Institutions
Structure of the
2. Registries
Dubai Real Estate Legal System
3. Laws

"A set of documents held in written or electronic

format in the electronic register at the Department,
Real Property Register
which point out the description and location of Real
Property and the rights attached hereto".

Sale of an off-plan unit must be ...in the Interim Real Estate Register
registered...
 1. Plans of the unit
2. Apartment numbers
Project Registration with RERA 3. Internal and external size
includes 4. Common area plans

Class A Brokers Exempt of taking the test

Class B Brokers Must take a RERA DREI Test

EJARI System System that records all rental agreements

Who must register a rental The landlord

agreement?

Who pays for registering the The tenant

rental agreement?

Who's name is a project's trust The project

account created

Who can market a project's An employee of the developer

property units?

Who applies for a broker's A registered brokerage company

license?

What are the 3 ratings given to Silver, Gold & Platinum

brokers
 Blue badge
Color of badge for a general All properties, Developer; Free zone but not
broker? Timeshare

Color of badge for a Green badge

developer specific broker?

Color of badge for a free zone Yellow badge

only broker?

Color of badge for a time- Red badge

share broker? (Only Red badges can do time share an vice versa)

Time limit to apply for renewal 1 month

of broker's license

What is ORN? Office Registration Number

What is BRN? Broker Registration Number

5%
Rental commission norm (You can charge more if you inform them of the
norm)

How much can a developer 500 dhs

charge in admin fees
(NOC) for a finished property?

How much can a developer 5000 dhs

charge in admin fees(NOC) for
unfinished property?
A developer must establish an x = 90 days
OA within x days of the first
unit being sold..

All sales of multi unit True

properties must be attached to
an JOPD

OA appoints a service manager MOM (Management, Operation and maintenance)

who carries out..

OA convenes an AGM to 5 or 7 with 3 spare.

appoint Board, which numbers:

The developer can own a max 50%

of what percentage of a
building?

How long does a developer 10 Years

warrantee the building for?

What is the name of the system SIMSARI

every broker must be
registered on?

What is Form A? Between Seller & Broker

What is Form B? Between Buyer and Broker

Client terminating broker (7 days notice)

What is for U
(must be attached to form A and B)

What is Form I Inter-broker agreements

 What is Form F Sales agreement between all parties

Max term for form A 90 days

1. Exclusive
Form A can be of what 3
2. Sole
types?
3. Open Listed (max 3)

Max number of days that a 3 Days

sales is valid for?

Valuation CMA is of how many 6 units in last 6 weeks

units over what time frame?

Buyer signs first = offer

Who signs form F first?
Seller signs second = contract

Seller has 3 options in Accept, reject, counteroffer

response to a buyer's offer,
which are:

What is the source of the Law Civil code

in the UAE

The Master developer can set True

up a branch of the DLD in-
house. True or False?

How much is the transfer fee Was 2%, now 4%

How long is the notice period 365 days from the next renewal.
for the end of a lease?
What are service charges used To maintain the property
for?

What nationality can be a GCC or on a project by project basis

developer?

To register a project, the 100% , or if there is a mortgage, then 20%

developer must own what construction must've been completed.
percentage of the land?

Sales and Purchased Oqoood

agreements for units in an
unfinished project must be
registered as what?

Who can provide an escrow A registered financial institution.

account?

What is a project's escrow For off plan sales

account used for?

What is the first payment a 5% for soft costs eg marketing

developer can take from an
escrow account?

1. Codes
What are the 3 basis of UAE
2. Decrees
"Rule of Law"?
3. Regulations

To develop a legal 1. Locate source of law

understanding, brokers must 2. Identify relevant facts
be able to do what 3 things? 3. Act or comply with legal requirements
 1. Religion
What are the 3 sources of UAE
2. Customs
Law?
3. International law

What is the only recognized The Dubai Land Department (DLD)

authority to register real estate
transactions outside the DFSA?

The Real Property Register is Master developers

held at the DLD and branches
held with whom?

Upon death of owner, legal Legal heirs must register with the DLD as heirs of
heirs must register with whom? the deceased

Monies in a trust account True

cannot be used as security for
a creditor of the developer?
(True or False?)

What are the four factors that a
broker must ensure when
selling off plan properties?
1. Validity of project
2. RERA approved trust account established
3. Developer / broker agreements registered with
RERA
4. Have seller approve advertising

Which document must a broker NOC from RERA to promote and sell "off-plan" units
obtain from the developer of the project.
before selling off-plan?

How much is the Administration 315 dirhams

fee payable to DLD upon
transfer of title?
 1. The whole property
A mortgage may be secured
2. An undivided interest in the property
by one of what 3 things?
3. By right in-rem over an off plan property

A mortgage not registered True

with the DLD is invalid. (True or
False?)

What are the borrower's 1. Not sell or gift the property without permission.
obligations and restrictions 2. Create a right in-rem without permission.
until the loan is discharged? 3. Keep the property in good condition

1. The property
Mortgage registration must 2. The Mortgagor (borrower)
include what information? 3. The mortgagee (lender)
4. The Guarantor

Who is first responsible for Each developer must initially draft a preliminary JOP
drafting a preliminary JOP Declaration.
Declaration?

Where must the JOPD be The DLD.

registered with?

Jointly Owned Property Declaration dealing with

the common areas of the project.
1. A site plan of any common areas.
What is the JOP Declaration?
2. A description of each of the units.
3. A list of the community rules that apply in the
development.