RERA UPDATED EXAMS SCRIPT QUESTIONS AND
SOLUTIONS RATED A+
✔✔Role of Key Players: Role of the BOARD - ✔✔Calling for meetings, forwarding
agendas, circulating to members necessary documents.
Maintaining & ensuring safe keeping of accurate records
Keeping minutes of all meetings Maintaining the General & Reserve fund accounts,
payment of accounts
Monitoring collection of the annual maintenance fees and service charges from Owners
AND
Managing Service Contractors organizing, following up on their works / honoring their
job commitment,
Enforcing the Rules for the peace and quiet enjoyment of all in the community
Maintaining Budget control and preparation of Budgets
Organizing the Insurance for the Building To action 'motions' as voted and carried in the
Owners Association Assembly meetings
✔✔The Key Players: Owners Association Manager - ✔✔Under the Guidance, direction
and supervision of the BOARD, the Owners Association Manager provides...
ADMINISTRATIVE, SECRETRIAL SUPPORT FINANCIAL MANAGEMENT SUPPORT,
ASSISTS IN OBTAINING QUOTES AND MONITORING OTHER SERVICE
CONTRACTORS OTHER POWERS AND RESPONSIBILITIES AS DESIGNATED BY
THE BOARD.
✔✔The Key Players: Facilities Manager - ✔✔Under the Guidance, direction and
supervision of the BOARD.. (may be via the Association Manager) Provide specialist
trades expertise in sections such as lighting, electrical, air- conditioning, district cooling,
security access and/or systems, general maintenance support, water, garbage and/or
waste management , Servicing fire safety equipment installations and resources
✔✔MOLLAK - ✔✔MOLLAK means "Owners" in Arabic. MOLLAK is an innovative,
electronic web-based service developed by RERA for the purpose of registering owners
associations forming part of Jointly Owned Property. The new MOLLAK system reflects
the provisions of Law No. (27) of 2007 concerning Jointly Owned Property Declarations
(JOPD) in the Emirate of Dubai and its regulations.
✔✔law No. 85 of 2006 - ✔✔Broker's Laws And Obligations
✔✔Civil Law - ✔✔Laws are written in a Civil Code. Judges mainly base decisions on the
Civil Code.
✔✔Common Law - ✔✔In addition to written laws, judges may be bound by the
decisions of other judges in previous cases with similar facts (precedent).
, ✔✔UAE's Legal System: - ✔✔• Mainly based on Civil Law
• Shariah Law used in personal affairs for Muslims (divorce, inheritance, etc)
• English Common Law is used in DIFC (own courts and RE registry)
✔✔Transfer fee - ✔✔Transfer fee = 4% of sales price 8% fee, if:
- Off-plan property and Seller using POA (on resale)
- Completed property and Seller has 2 POA's (POA #1 assigns to POA #2)
✔✔Law No. 7 of 2006 - ✔✔Freehold Ownership of Properties
• Gives Foreign Nationals (non-GCC) the right to own property freehold in Designated
Areas.
• Regulates the registration of completed real properties and also sets out the authority,
function and purpose of the DLD with the introduction of a system of registration.
✔✔Regulation No.3 of 2006: - ✔✔Designates areas where non-GCC nationals can
purchase properties in Dubai.
✔✔Free Zones & Offshore Companies - ✔✔• Free Zone is a special economic zone
• Permits 100 % foreign ownership of registered companies
• Zero taxation Offshore Companies • Registered in a Free Zone in Dubai; or
• Registered outside Dubai (foreign country or another emirate)
✔✔OQOOD - ✔✔• Off-plan (under construction) property sales regulated under Law
No. 13 of 2008.
• Law No.13 of 2008 was amended by Law No.9 of 2009 and Decree No. 6 of 2010.
✔✔Requirements for Off-Plan Sales
Law 13 of 2008 states: - ✔✔"A Developer shall not commence a project or sell its units
off plan until and unless the Developer has taken possession of the plot on which the
project is to be constructed." Approved fees a Developer may charge
• Developers may not charge transfer fees for the sale or resale of real estate.
• Developers may charge for the issuance of an NOC.
• The maximum charge for an off-plan property NOC is 5,000 AED . • Developers may
charge for additional services, such as a fee for an urgent issuance of NOC.
✔✔Project Registration (Off Plan) - ✔✔• Proof of possession of plot
• Project name
• Open Trust Account for the project; produce a copy of the Escrow Agreement with
Trustee
• Submit a copy of the RERA Developer Registration Certificate
• Approval of development plans (from Dubai Municipality)
• Approval from the DLD of detailed CAD drawings (these drawings are later used for r
registration of SPAs in Oqood)
• Submit a copy of proposed SPA
• Any Agency/Broker agreement must be registered with RERA by the Developer
SOLUTIONS RATED A+
✔✔Role of Key Players: Role of the BOARD - ✔✔Calling for meetings, forwarding
agendas, circulating to members necessary documents.
Maintaining & ensuring safe keeping of accurate records
Keeping minutes of all meetings Maintaining the General & Reserve fund accounts,
payment of accounts
Monitoring collection of the annual maintenance fees and service charges from Owners
AND
Managing Service Contractors organizing, following up on their works / honoring their
job commitment,
Enforcing the Rules for the peace and quiet enjoyment of all in the community
Maintaining Budget control and preparation of Budgets
Organizing the Insurance for the Building To action 'motions' as voted and carried in the
Owners Association Assembly meetings
✔✔The Key Players: Owners Association Manager - ✔✔Under the Guidance, direction
and supervision of the BOARD, the Owners Association Manager provides...
ADMINISTRATIVE, SECRETRIAL SUPPORT FINANCIAL MANAGEMENT SUPPORT,
ASSISTS IN OBTAINING QUOTES AND MONITORING OTHER SERVICE
CONTRACTORS OTHER POWERS AND RESPONSIBILITIES AS DESIGNATED BY
THE BOARD.
✔✔The Key Players: Facilities Manager - ✔✔Under the Guidance, direction and
supervision of the BOARD.. (may be via the Association Manager) Provide specialist
trades expertise in sections such as lighting, electrical, air- conditioning, district cooling,
security access and/or systems, general maintenance support, water, garbage and/or
waste management , Servicing fire safety equipment installations and resources
✔✔MOLLAK - ✔✔MOLLAK means "Owners" in Arabic. MOLLAK is an innovative,
electronic web-based service developed by RERA for the purpose of registering owners
associations forming part of Jointly Owned Property. The new MOLLAK system reflects
the provisions of Law No. (27) of 2007 concerning Jointly Owned Property Declarations
(JOPD) in the Emirate of Dubai and its regulations.
✔✔law No. 85 of 2006 - ✔✔Broker's Laws And Obligations
✔✔Civil Law - ✔✔Laws are written in a Civil Code. Judges mainly base decisions on the
Civil Code.
✔✔Common Law - ✔✔In addition to written laws, judges may be bound by the
decisions of other judges in previous cases with similar facts (precedent).
, ✔✔UAE's Legal System: - ✔✔• Mainly based on Civil Law
• Shariah Law used in personal affairs for Muslims (divorce, inheritance, etc)
• English Common Law is used in DIFC (own courts and RE registry)
✔✔Transfer fee - ✔✔Transfer fee = 4% of sales price 8% fee, if:
- Off-plan property and Seller using POA (on resale)
- Completed property and Seller has 2 POA's (POA #1 assigns to POA #2)
✔✔Law No. 7 of 2006 - ✔✔Freehold Ownership of Properties
• Gives Foreign Nationals (non-GCC) the right to own property freehold in Designated
Areas.
• Regulates the registration of completed real properties and also sets out the authority,
function and purpose of the DLD with the introduction of a system of registration.
✔✔Regulation No.3 of 2006: - ✔✔Designates areas where non-GCC nationals can
purchase properties in Dubai.
✔✔Free Zones & Offshore Companies - ✔✔• Free Zone is a special economic zone
• Permits 100 % foreign ownership of registered companies
• Zero taxation Offshore Companies • Registered in a Free Zone in Dubai; or
• Registered outside Dubai (foreign country or another emirate)
✔✔OQOOD - ✔✔• Off-plan (under construction) property sales regulated under Law
No. 13 of 2008.
• Law No.13 of 2008 was amended by Law No.9 of 2009 and Decree No. 6 of 2010.
✔✔Requirements for Off-Plan Sales
Law 13 of 2008 states: - ✔✔"A Developer shall not commence a project or sell its units
off plan until and unless the Developer has taken possession of the plot on which the
project is to be constructed." Approved fees a Developer may charge
• Developers may not charge transfer fees for the sale or resale of real estate.
• Developers may charge for the issuance of an NOC.
• The maximum charge for an off-plan property NOC is 5,000 AED . • Developers may
charge for additional services, such as a fee for an urgent issuance of NOC.
✔✔Project Registration (Off Plan) - ✔✔• Proof of possession of plot
• Project name
• Open Trust Account for the project; produce a copy of the Escrow Agreement with
Trustee
• Submit a copy of the RERA Developer Registration Certificate
• Approval of development plans (from Dubai Municipality)
• Approval from the DLD of detailed CAD drawings (these drawings are later used for r
registration of SPAs in Oqood)
• Submit a copy of proposed SPA
• Any Agency/Broker agreement must be registered with RERA by the Developer
