The Enforcement of Mortgages in Abu Dhabi
Mortgages- The Basics
Mortgages are a type of loan banks provide for those looking to
purchase a property. The purchasing of a property is a highly
important part of the modern world, with everyone potentially being
under that umbrella, from the most prominent businesses purchasing
for new projects to the average individual buying a first time
house. The mortgage itself is a long-term source of finance, and
can often be for significant amounts of money. As such, high levels
of regulation are usually in place in most jurisdictions.
Dubai currently has the Law Number 13 of 2008- The
Real-Estate Law, though there are plans to introduce new
legislation on the matter. However, this law was specifically only
for the Emirate of Dubai, and in some ways, this is understandable.
Dubai is the business heart of the country, and the real estate
market there is valued in the tens of billions of Dirhams. Dubai
also has the highest
