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Dubai RERA Broker Exam 2022/2025 with all answers correct
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Dubai RERA Broker Exam 2022/2025 with all answers correct
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Dubai RERA Broker Exam 2022/2025 withall answers correct
Which law applies to
Land Registration & Ownership (Role of DLD) - <<ANSWER>>Law No. 7/2006
Which law applies to
Designated Areas
(Freehold vs Leasehold for non GCC) - <<ANSWER>>Regulation No. 3 of 2006
Which law applies to
Regulation of Real Estate Brokers - <<ANSWER>>Law No. 85/2006
Which law applies to
Establishment of RERA - <<ANSWER>>Law No. 16/2007
Which law applies to
Escrow Accounts - <<ANSWER>>Law No. 8/2007
How long is the notice period for the end of a lease? - <<ANSWER>>365 days from the
next renewal.
What are service charges used for? - <<ANSWER>>To maintain the property
What nationality can be a developer? - <<ANSWER>>GCC or on a project by project
basis
To register a project, the developer must own what percentage of the land? -
<<ANSWER>>100% , or if there is a mortgage, then 20% construction must've been
completed.
Sales and Purchased agreements for units in an unfinished project must be registered
as what? - <<ANSWER>>Oqoood
Who can provide an escrow account? - <<ANSWER>>A registered financial institution.
, What is a project's escrow account used for? - <<ANSWER>>For off plan sales
What is the first payment a developer can take from an escrow account? -
<<ANSWER>>5% for soft costs eg marketing
What are the 3 basis of UAE "Rule of Law"? - <<ANSWER>>1. Codes
2. Decrees
3. Regulations
To develop a legal understanding, brokers must be able to do what 3 things? -
<<ANSWER>>1. Locate source of law
2. Identify relevant facts
3. Act or comply with legal requirements
What are the 3 sources of UAE Law? - <<ANSWER>>1. Religion
2. Customs
3. International law
What is the only recognized authority to register real estate transactions outside the
DFSA? - <<ANSWER>>The Dubai Land Department (DLD)
The Real Property Register is held at the DLD and branches held with whom? -
<<ANSWER>>Master developers
Upon death of owner, legal heirs must register with whom? - <<ANSWER>>Legal heirs
must register with the DLD as heirs of the deceased
Monies in a trust account cannot be used as security for a creditor of the developer?
(True or False?) - <<ANSWER>>True
What are the four factors that a broker must ensure when selling off plan properties? -
<<ANSWER>>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 obtain from the developer before selling off-plan? -
<<ANSWER>>NOC from RERA to promote and sell "off-plan" units of the project.
How much is the Administration fee payable to DLD upon transfer of title? -
<<ANSWER>>315 dirhams
A mortgage may be secured by one of what 3 things? - <<ANSWER>>1. The whole
property
2. An undivided interest in the property
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