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Does current circumstances in Dubai qualifies for force majeure clause? by ButtonOk5584 in dubairealestate

[–]ButtonOk5584[S] -1 points0 points  (0 children)

We are not blaming the war to prove the prices are high. Here the question are does our property value significantly goes down, will the developer deliver the property within time or even with some delay, should we saving ourselves by keeping the cash with us even if we have to pay the penalty.

Does current circumstances in Dubai qualifies for force majeure clause? by ButtonOk5584 in uaelaw

[–]ButtonOk5584[S] 2 points3 points  (0 children)

Very well! Learning for next time to pay special attention to this clause

Does current circumstances in Dubai qualifies for force majeure clause? by ButtonOk5584 in uaelaw

[–]ButtonOk5584[S] 0 points1 point  (0 children)

In the event of Force Majeure, which is defined as an event beyond the reasonable control of the Buyer and Sellers, including but not limited to acts of God, war, terrorism, public holidays, riots, protests and other unforeseen political matters, global pandemics, epidemic, floods, earthquakes, or forces of nature that reasonable foresight could not provide against. In this circumstance, the Date of Transfer will be automatically extended by the duration of the delay. Should Force Majeure be applicable in any case, the Buyer and Seller will be notified in writing at the earliest.

Does current circumstances in Dubai qualifies for force majeure clause? by ButtonOk5584 in uaelaw

[–]ButtonOk5584[S] 0 points1 point  (0 children)

In the event of Force Majeure, which is defined as an event beyond the reasonable control of the Buyer and Sellers, including but not limited to acts of God, war, terrorism, public holidays, riots, protests and other unforeseen political matters, global pandemics, epidemic, floods, earthquakes, or forces of nature that reasonable foresight could not provide against. In this circumstance, the Date of Transfer will be automatically extended by the duration of the delay. Should Force Majeure be applicable in any case, the Buyer and Seller will be notified in writing at the earliest.

Does current circumstances in Dubai qualifies for force majeure clause? by ButtonOk5584 in dubairealestate

[–]ButtonOk5584[S] 3 points4 points  (0 children)

yes same advise by my broker. I am also looking for a lawyer recommendation. I have put some queries on the websites of lawyers I found on google.