Real Estate

Fast Track Real Estate Registration Trustees: Services, Fees, Location and Registration Guide

Fast Track Real Estate Registration Trustees

The process of property registration in Dubai is overseen by the Dubai Land Department (DLD), and Dubai’s approved Trustee Centres offer easy registration services. One of the official alternatives is Fast Track Real Estate Registration Trustees, which is located on Sheikh Zayed Road in Al Barsha 1. The centre helps with transactions like property sales, mortgages, Oqood, and other registration processes. When all of the requirements and documents are complete, the service time for a standard property sale at DLD is approximately 25 minutes. It’s also important for buyers and sellers to know what the DLD fees are, what documentation is required, and how they need to pay before coming to visit. This guide has all the vital information you need to help register your Dubai property with a minimum of hiccups and surprises. 

What Is a Real Estate Registration Trustee in Dubai?

A Real Estate Registration Trustee is a licensed service provider that is approved to conduct designated real estate registration transactions via systems made available by the Dubai Land Department.

DLD defines trustee centres as places that offer the service of real estate registration and licensing (such as buying and selling and other real estate transactions) in one service point. 

The underlying activity is regulated by Dubai’s real estate authorities. According to the published activity description of RERA, Real Estate Registration Trustees are entities authorized by the Land Department for electronic registration of real estate transactions, such as buying and selling contracts, mortgages, and usufruct rights, based on the rules and conditions that apply. 

This arrangement also facilitates customers, as they can avoid going through the whole government procedure themselves; many registration procedures can be carried out at an approved centre.

Is the trustee the same as the Dubai Land Department?

No. This distinction matters. The government authority responsible for registering and documenting property is DLD. A trustee centre is the approved service channel for certain transactions.

According to DLD’s own FAQ, DLD is the only legal entity to register and document real estate transactions, and owners or their authorised representatives are allowed to attend Real Estate Registration Trustee centres for applicable transactions. 

So, it is not to be presumed that a company is legally registering ownership in a trustee centre apart from the government. The transaction continues within the framework of DLD.

About Fast Track Real Estate Registration Trustees

According to Fast Track, it was founded in 2014 as a result of Dubai’s real estate registration being transformed to incorporate the licensing of businesses to conduct designated registration through DLD systems. The goal of the company, as mentioned,d was to offer a quick registration process and ease the stress on government service channels. 

Currently, the company offers a list of services that includes property sales, Oqood, giving and receiving, mortgage registration, mortgage release, blocking properties, company registration, lease to own, and other related services. 

Additionally, DLD’s current trustee-centre directory also features Fast Track Real Estate Registration Agent in Al Barsha 1, thus verifying its inclusion in the official trustee-centre network.

That official listing will be especially helpful since there are some third-party business directories that may have an outdated address or telephone number, or even the opening hours.

Fast Track Location, Contact Details and Working Hours

The address of the office is:

Al Attar Business Center, Office 102, Al Barsha 1, Sheikh Zayed Road, Dubai, UAE.

The company’s current contact page lists +971 4 392 9021 and info@fast-track.ae. 

The company’s published working hours are slightly different from the DLD directory. Fast Track now has its website up and running, and states that they are open Monday to Thursday from 8:00 am to 5:00 pm, and Friday from 8:00 am to 5:00 pm, whilst DLD’s current directory lists the centre as open Monday to Thursday from 8:00 am to 6:00 pm and Friday from 8:00 am to 12:00 pm. 

The hours in the government directory are different from the company’s website, so please check before travelling, particularly on Friday.

Free parking is available in the company’s basement, according to the company. 

What Services Does the Trustee Office Provide?

Listed services include some of the more common property transactions.

Property Sale Registration

Property Sale Registration

One of the primary transactions carried out by registration trustee centres is a conventional sale.

The current approach of DLD is to ask the parties for the necessary documents to verify. The trustee employee types the information into the system, conducts an audit, arranges payment, and the documents are then generated electronically. 

Currently, Emirates ID for UAE parties or a valid passport for non-resident foreigners are recognized as identity documents by DLD for individuals. Additionally, applicable freehold transactions must have a developer’s electronic NOC. 

Oqood and Initial Sales

Oqood is a reference to off-plan property transactions.

Initial-sale registration, says DLD, is a registration procedure that enables a developer to place units sold off-plan or land plots that have not been paid in the provisional register. The official process is done via the Oqood/Real Estate Developers Portal. 

Oqood is also part of the services offered by Fast Track. 

Mortgage Registration

Another service that is important is mortgage registration.

The cost of the mortgage registration fee is currently 0.25% of the mortgage value for an ordinary mortgage, plus applicable title-deed, knowledge, innovation, and service-partner charges. It takes 20-25 mins to serve the process when published. 

Depending on the transaction, the mortgage might be run by the bank or finance company, as well as by the borrower and trustee, or through electronic channels at the DLD.

Mortgage Release

If a mortgage has been paid off, the property may need to be formally released from the DLD record.

It’s no wonder that release-mortgage services are on the Fast Track list of available services. 

The documents needed may differ depending on the bank and the structure of the transaction,n and it is advisable to get the bank’s release documents beforehand to organise the registration appointment.

Gifting and Donation

Transfers between eligible parties can also be made as gifts or donations.

In the current property-gift service, DLD identifies trustee centres as service channels, and provides that a legal power of attorney must be obtained when the parties are represented by a trustee. It also offers different fee rules based on the value and type of transaction. 

Property Blocking

One of the services offered by Fast Track is blocking of property. 

This type of transaction is different from an ordinary sale. Consumers are advised, therefore, to verify the particular legal basis, documents, and relevant DLD requirements before assuming that the standard sale-registration process will apply.

How Much Does Property Registration Cost?

The total cost will vary according to the kind and amount of the transaction.

DLD currently charges the following principal charges for a standard property sale:

  • Seller: 2% of the realised value of the sale
  • Seller: 3% of the sale value
  • The title deed certificate is worth AED 250.
  • If the applicable Unified Map exists, use it: AED 225.
  • Land Map out of Dubai Municipality jurisdiction: AED 100
  • Rental Villa or Apartment map: AED 250
  • Knowledge fee: AED 10
  • Innovation fee: AED 10
  • Accident compensation: AED 4,000 + VAT (if AED 500,000 or higher)
  • Service partner fee: AED 2,000 + VAT when the sale value is less than AED 500,000 

The above figures are the current charges published by DLD for the above service and are not to be used automatically for all property transactions.

A mortgage registration, for instance, is charged differently, and other types of transactions, such as gifts or provisional registrations, have their own requirements.

Example of a standard sale

Assume that a house is sold for AED 1,000,000.

The major transfer fees would be:

  • Seller’s 2%: AED 20,000
  • Buyer’s 2%: AED 20,000
  • The fee for the service partner is AED 4000 + VAT.
  • Covers applicable title deed, map, and government administrative charges

So the buyer’s transfer component would be 4% of the total of AED 40,000, and the seller’s transfer component would also be 4% of that same amount, before paying applicable charges.

A final amount should always be checked against the latest calculation of the transaction amount carried out by the DLD, as fees may vary depending on the property type, the structure of the transaction, and the applicable service.

What Documents Do You Need?

What Documents Do You Need?

Document requirements are dependent on the transaction.

In a regular sale of a property, DLD will typically need to see proof of identity for both the buyer and the seller and an electronic NOC from the developer if it’s a freehold that falls under the scope of the NOC. 

If additional documents are needed, this will be dependent upon the circumstances, especially where:

  • One party is represented by a legal representative
  • The use of a power of attorney
  • A company is the one who owns or buys the property
  • This property has a mortgage.
  • The unit is being sold as an off-plan unit.
  • The seller/buyer is not a resident of the state.
  • A free zone or offshore company is involved
  • A bank is providing financing for the purchase.
  • The sale is for a gift, usufruct, or lease to own.

More examples are provided in the FAQ of Fast Track. It mentions that offshore company documents can be attested by the Embassy of the UAE in the country where they are issued, and by the UAE Ministry of Foreign Affairs, in addition to being translated into Arabic. 

Therefore,e it is important to have a checklist especially tailored to the transaction you are undertaking and avoid delays by using a generic checklist from another property sale. The documents should be verified before the appointment for the specific transaction type.

How the Registration Process Works

When the file is complete, the standard sales process is relatively simple.

Step 1: Prepare the documents

Obtain the buyer’s and seller’s identification papers and any necessary NOC, title deed, POA, or company paperwork.

Step 2: Submit the transaction

Go to the approved registration centre and submit the documents to the verifier.

Step 3: Data entry and audit

The trustee’s employee records the details of the transaction in the DLD system and does the necessary checks.

Step 4: Pay the applicable charges

The intended transaction details are accepted, and the relevant DLD and service-partner charges are paid.

Step 5: Complete registration

Once successfully processed,d the electronic outputs are issued. The outputs of standard sale registration identified by DLD currently are an electronic title deed and an electronic map. 

DLD provides 25 minutes as the standard transaction time for sale registration, but this is intended to be the published transaction time for a compliant transaction, not a strict time commitment. The process can be prolonged due to missing documents, problems with the NOC, financing issues, POA problems, etc. 

Can Someone Else Attend on Your Behalf?

Yes, when the legal requirements for representation are met.

If the power of attorney is properly drafted, the party may be represented by the person who has been given the power of attorney. Requirements, however, vary based on the issue location and the authority of the POA.

According to Fast Track’s FAQ, a POA from outside the UAE should be attested via the diplomatic mission ofthe  UAE in the origin country and the UAE Ministry of Foreign Affairs and translated into legal Arabic in the UAE. If it is an intra-UAE POA, it must be notarised and authenticated by the relevant court, the company says. 

Not all POAs allow for a property sale. The phrasing and range of the document are important.

What Can Cause Delays?

Many times it is in the preparation, though the registration service is quick.

Common issues include:

  1. Missing identification documents
  2. A developer NOC that cannot be located or is invalid.
  3. Incorrect buyer or seller information
  4. A living will or power of attorney that has expired or is not adequate.
  5. Company documents in need of additional attestation
  6. Failure to provide bank or mortgage records.Inability to provide bank or mortgage records.
  7. Incorrect payment instruments
  8. A transaction that is treated as a sale of a completed property that is an off-plan transaction.
  9. There were a few differences between the documents and the DLD records.

The manager’s cheques, bank transfers, etc. are also accepted for transaction payments according to the applicable DLD guidance, as detailed in Fast Track’s FAQ. 

Therefore, it is recommended to check the payment conditions before the appointment to avoid a potential delay if they are required.

Why Buyers and Sellers Should Verify the Official DLD Listing

Using Google Maps or simply searching a normal business directory for a trustee’s office for directions is handy, but not the final word on licensing or whether a government service is available.

DLD’s official list of Real Estate Registration Trustee centres is kept. It is currently listed in Al Barsha 1 and offers its contact and location details. 

This is particularly crucial as business listings can stay active even after the contact information or hours have been updated.

When it comes to a property transaction that amounts to hundreds of thousands or millions of dirhams, it’s a good idea to verify the centre with DLD before committing.

Fast Track vs Going Directly Through DLD

The decision is not so much whether or not to use a private company versus DLD as the competing registration authorities.

The trustee centre is part of the DLD system.

The practical benefit for those transactions that are eligible for this application is that a customer can attend one of the government-approved service centres for documents to be checked, transaction information to be provided to the government, and to facilitate the registration process.

DLD is also offering many digital services directly,y and some transactions – especially bank-based mortgage transactions or developer transactions that use its Oqood service – may not take the same counter-based process as a traditional sale. 

The best channel is then that which is most appropriate to the transaction, not that which sounds speedy.

Conclusion 

To facilitate a Dubai property transaction, the right registration centre can make the process as easy as when all the necessary documents and approvals are ready. Within the framework of the Dubai Land Department, Fast Track Real Estate Registration Trustees offers a variety of registration services, such as sales, mortgages, gifting and other property-related transactions. Please check the current DLD conditions, fees, acceptance, and hours of operation,n and relevant documentation for your transaction before visiting. Most importantly, keep up to date with the newest information provided by the Dubai Land Department and not the outdated information provided by third parties. Once the necessary paperwork is in order, the buyer, seller, and property owner can go through the registration process with less worry and unnecessary delays. 

Frequently Asked Questions

Is Fast Track an official Dubai Land Department trustee?

Yes. Fast Track Real Estate Registration Agent is now registered as a registration trustee centre in Al Barsha 1 according to DLD’s official directory. 

How long does a Dubai property sale registration take?

Currently, the service time for the registration of properties for sale is 25 minutes, as published by DLD. This is subject to the transaction meeting the requirements and the necessary documents being in place.

Does the trustee issue the title deed?

When implementing the applicable sale-registration process, DLD specifies an electronic title deed among the documents issued. The trustee centre helps the transaction to take place via the DLD system. 

Can foreigners register property through a trustee centre?

Yes, there are eligibility requirements for the property and transaction. DLD’s standard sale service specifically identifies valid passports as identity documents for non-resident foreigners. 

Is the 4% property transfer fee the only cost?

No. The 4% is the standard 2% seller plus 2% buyer charges published by DLD for the applicable sale service. There may be other title deed, map, knowledge, innovation, and service-partner fees as well. 

Does every transaction require both parties to attend?

Not necessarily. Representation by a valid POA may be available, depending on the circumstances and the authority granted by the POA. Details of the transaction should be discussed with DLD and the trustee.

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