Aspiring to have a Dubai apartment with your closest companion or business associate? It is indeed possible — and co-ownership in Dubai is 100% legal. However, before you divide the expenses and commemorate, it is crucial to be aware of the legal aspects to prevent future complications.
Here are the key points:
Co-ownership is legal, but it is not always easy
Dubai’s property laws permit joint ownership, whether it be between friends, partners, or relatives. But the specifics matter.
We will not tolerate any method that does not follow these rules
No physical division: you cannot separate the unit into distinct living areas unless the master community declaration permits it and the Dubai Land Department (DLD) grants approval.
Right of first refusal: if one owner wishes to sell their share, the other has the initial opportunity to purchase it before it’s put up for sale to anyone else.
Payment Fees: The fees are determined by the ownership percentage. If one person owns 70% of something and the other person owns 30%, the fees will be divided accordingly.
Make sure to have it in writing: a comprehensive co-ownership agreement is crucial. Clearly define responsibilities, cost-sharing, usage terms, and exit plans to prevent future conflicts.
⚖️ Why it matters:
Purchasing with a friend can be a wise decision — splitting expenses, investment risk, and potential profits. However, without a clear legal framework, complications can arise quickly.
The main point:
Yes, it is possible to co-own property in Dubai, but it is important to approach it with caution and make informed decisions. Familiarize yourself with the legal requirements, create a comprehensive agreement, and safeguard your investment from the outset.
