laws

Ajman Emiri Decree No. 7/2017 establishes the Department of Lands and Real Estate Regulation in Ajman. This decree replaces Ajman Emiri Decree No. 12/2012 on the Reorganization of the Department of Lands and Real Property in Ajman and Ajman Emiri Decree No. 13/2012 on Ajman Corporation for Real Estate Regulation. The new department is considered the legal successor of the Land Department and the Real Estate Regulatory Agency, leading to the dissolution of these entities. The Department of Lands and Real Estate Regulation is granted a special juristic personality and is responsible for settling the debts and obligations of the dissolved entities. The department's main objective is to reorganize and rehabilitate the real estate sector in Ajman, aligning it with urban and cultural developments. It aims to enhance the business environment, infrastructure, and apply international practices for land ownership and registration. The department has the power to propose legislation, issue corrective certificates, determine valuation principles, and establish committees for land and real estate valuation. The decree also introduces new terms and concepts such as sub-Developers, Owners' Association, Deed or Document, Credit Account, and Real Estate Ads. Sub-Developers are individuals or entities who enter into a contract with the main Developer of a Real Estate Project and act on their behalf for the construction and development of a specific part of the project. Owners' Association refers to the association formed among the owners of Real Estate Units in a project or investment building, subject to the provisions of Emiri Decree No. 8 of 2008 on the Regulation of Joint Ownership in Real Estate Projects or any relevant laws. Deed or Document includes any instrument, judgment, court order, contract, agreement, or any other document that requires registration in the Lands' Register under the present decree. Credit Account is a bank account opened by the Real Estate Developer in the name of the concerned Real Estate Project or investment building, where amounts paid by purchasers of Real Estate Units and funders of the project are deposited for exclusive disbursement towards construction and completion. The decree also covers regulations related to Real Estate Ads, which include any form of advertisement, promotional or publicity material related to the promotion, marketing, sale, purchase, or assignment of ownership of Real Estate Units in a project or investment building, whether registered or not. The Department of Lands and Real Estate Regulation operates under the leadership of a Chairman, appointed by the Ruler, and a Director-General, appointed by an Emiri Decision. Its financial resources come from the annual budget of the Government of Ajman. The department is subject to the provisions of the present decree, regulations, and decisions issued by the Crown Prince and the Chairman, as well as applicable local legislation. The decree was issued on March 23, 2017, and its provisions are to be published in the Official Gazette and communicated to relevant authorities for implementation.