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Assignment of Lease
The Customer may mortgage the Company’s assets (real estate, commercial, shares) to obtain financing from a lender. The Customer has the option to amend, renew and release their Mortgage.
Process Steps
- Customers can log in to Dubai Trade Portal
- Navigate to “Registration” and select “Mortgage or Pledge- Approval.”
- Select ‘New Lease Assignment Mortgage’, or ‘Cancellation of Mortgage – Lease Assignment Mortgage’ to submit a request for the corresponding service required.
Documents Required
A. New Lease Assignment Mortgage
- Owner’s declaration written on FZE’s/FZCO’s letterhead to be signed before Jafza.
- Report from Civil Engineering. (Completion must be less than 75%).
- Covenant letter from the Bank (Available in Jafza.ae – Customers- Forms & E services – Commercial) to be signed before Jafza.
- Request letter from Bank duly signed by the Power of Attorney (POA) holder.
- Power of Attorney from both Parties of the Company & the Bank notarised and attested with a Passport copy of Power of Attorney (POA) holder.
- License Copy of the Bank
B. Cancellation of Mortgage – Lease Assignment
- Letter from Company regarding Release Assignment of Lease Written on FZE’s/FZCO’s Letterhead.
- Request letter from Bank duly signed by the Power of Attorney (POA) holder.
- Power of Attorney from both Parties the Company & the Bank notarised and attested with Passport copy of Power of Attorney (POA) holder
Fees
New
| For the letter | AED 500 |
| specimen signatures (each) | AED 50 |
| Cancellation – Release letter | AED 500 |
Notes
The Registrar reserves the right to call for any extra documents if necessary.
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