The concept of jointly owned property was introduced by Law no. 27 of 2007 “concerning ownership of jointly owned real property in the Emirate of Dubai”. This law came into effect on April 1st, 2008. Additional regulations, known as “directions”, were issued in 2010 in order to regulate a few subjects such as the content of Jointly Owned Property Declarations and Building Management Statements, the developers’ disclosure obligations, consumer protection matters and the licensing and registration of Owners Associations, among others.
This article elaborates on Jointly Owned Property, Common Areas, Responsibilities and Procedure.