laws

Ajman Emiri Decree No. 12/2008, issued on December 31, 2008, by Humaid Bin Rashed Al-Nuaimi, Member of the Supreme Council and Ruler of the Emirate of Ajman, regulates the acquisition and registration of lands and real estate in Ajman. The law introduces amendments to the interpretation of certain terms and defines key terms such as "Real Estate Project," "Investment Building," "Real Estate Unit," and "Real Estate Developer." The law establishes that if multiple owners have a priority right, each owner's right is proportionate to their shares. If one owner waives their right, it is transferred equally among the remaining owners. In the case of multiple buyers, the owners with priority rights can exercise their rights towards each other in the same manner. The law also outlines legal measures and penalties. If a real estate developer fails to start construction within six months of receiving approval or if construction is halted for more than two months without an acceptable excuse, legal measures can be taken. Penalties include fines not less than AED 100,000 for embezzlement or unjust use of payments meant for construction, as well as dealing with unregistered real estate agents. The law empowers the Chairman of the Board to issue a schedule of fees and penalties, with the same force and effectiveness as the provisions of the decree. The Institution is responsible for preparing application forms, brochures, and other guidance materials for the implementation of the law. The Chairman of the Board, after consultation with the Chairman of the Municipality, can issue executive regulations or decisions for the application of the law, provided they do not conflict with its provisions. The decree must be published in the Official Gazette of the Emirate and circulated to relevant authorities for implementation. Overall, the law aims to establish a legal framework for the ownership, management, and utilization of lands and real estate in Ajman, promoting the public interest and providing clear guidelines for developers, buyers, and the registration process.