# Title Deed Name Change - From Mortgage Provider to Owner Name



## saya123 (Dec 11, 2008)

Hi All,

I am getting some weird answers from whomever I am trying to contact to understand the process for getting the new title issued under my name.

It is for a property I bought in Dubai about 2 years back for which I had paid 2% Transfer Fee to Land Department back then and in return Land Department had issued a title deed under Mine and Mortgage Company's name.

Now that i have settled the outstanding of mortgage company, and they have issued me an NOC, i am supposed to get a new title deed issued solely under my name.

When I spoke with Land Department, they say that such a transaction is considered as a "Transfer" of ownership and therefore I will be subject to a 4% transfer fee as per the current regime.

It doesnt make any sense whatsoever.

Can somebody who has gone through similar process before or knows the law around it advise on it?

I had specifically asked the land department at the time of original transfer whether i will be subject to another transfer fee of 2% when i have settled the finance and they had specifically said NO this will be treated as a reissuance of title deed and would require a nominal administration fee of a couple of thousand dirhams (dont remember the exact amount but it was not more than AED 2000).

Any advise/help would be appreciated.


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## sammylou (Oct 29, 2012)

sorry i don't have an answer but i am very curious as to why you had the bank's name on the title deed??

we purchased our apartment with a mortgage but their name isn't anywhere on the title deed.


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## saya123 (Dec 11, 2008)

i m not sure but i could guess this is because its an islamic financial institution.


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## sammylou (Oct 29, 2012)

well, i would definitely try to press the matter further, perhaps with a different agent?

unfortunately, what someone told you 2 years ago doesn't hold up much if they've changed the rules [just like the transfer fee was changed to 4% recently].

also, have you tried going back to your bank agent? if this is their policy then surely they have experience in this and can tell you if it's normal or not to be charged the transfer fee.


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## saya123 (Dec 11, 2008)

Offcourse i have no intention of paying this transfer fee without knowing if its really the new process or people are giving these answers because they themselves are not aware of it.

I did speak to the mortgage company reps while i was settling the payment and they werent sure but even as per them it was only going to cost me a nominal administration fee and not the 4% transfer fee for sure.

In the end I will personally go and visit the land department if nothing works to get first hand info but wanted to know if anyone here has faced a similar scenario.


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## sammylou (Oct 29, 2012)

good luck! please let us know how it goes as the info may be helpful to others.


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## saya123 (Dec 11, 2008)

Alright so after i got the above information from multiple sources, i checked with my account manager at mortgage company and he said its all rubbish. The process is very simple, all i need to do is take the NOC from Mortgage Company, NOC from Developer, and Original Title Deed to land department and tell them you are here for Mortgage Deregistration.

They will charge you a nominal fee and issue you a new title deed under your name only.

So i personally went there and it was exactly like what mortgage company rep had told me.. infact NOC from Developer was not even required for which i paid AED 500 which i could have avoided if i was given the right information in the first place.

Total charges from Land Department for this process are AED 1530 against which they issue you a new title deed and the affection plan of your property.

Hope this helps all.


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