Dubai Property Insight

Me and my wife filed a mutual divorce from court in Ahmadabad on 19th march 2012.
In which I already agree to give another flat(A), which is in my single ownership as a full settlement of alimony/maintenance to her after decree of marriage.
she is currently staying in that flat(A) with my daughter.
she has almost 40% of my total property with her with one daughter (aged 14yrs)
we have two children.
my son (aged 24yrs) and he is staying in my flat(B).
I do not have any other thing left over with expect this flat(B).
she took all the belonging, gold, cash, etc.. from my place.
I am jobless from last four months..
my money is draining out fast and currently i am searching for job in dubai at the age of 49 years.

Now, I came to know from relative that she is asking half of the money of flat(B) as well and a monthly maintenance.

In mutual divorce filing, she signed the documents in which she agree that she will not claim any other movable or immovable property from me or my relatives..

I got a flat(B) in mumbai thro’ icici nre home loan six years ago.
while processing the home loan I signed one POA in Dubai and given to icici bank, nre home loan in which I authorized my wife to proceed and sign the documents, paper work, registry, stamp duty, etc. to avail the flat(B) thro’ icici bank home loan, mumbai, in absence of myself as I was in Dubai at my workplace…

I paid/clear all the dues of home loan to bank in feb 2012.
last month on 28th March 2012 bank given me my all original documents of flat(B) to me.

Going thro’ the documents I came to know that my wife is/becomes a co-owner of flat(B).
Only the sale deed last page declares that she had signed the sale deed ”on behalf of me"
otherwise all the places in all documents her name and signature is there..

I need your help to know that, how I get revert the co-owner ship of my flat(B) to single owner on the sale deed without her signature??

Please guide me how I save myself from this greedy wife ??

Please help…

Firstly, signing on your behalf doesn’t make her the co-owner of the said property.
The fact the said immovable property is in your sole name can be ascertained from the title as shown on the Registered Sale Deed you hold in your name, your name & particulars must be mentioned therein as buyer/purchaser of the said property & your wife’s name will be therein shown as authorised attorney to sign on your behalf as holder of your power of attorney.
In such case even her name or signatures if showing in the sale deed doesn’t make her the co-owner of the said property as it was a limited right she had as holder of the power of attorney to get the transfer of this immovable property in your sole name, however if her name is mentioned along with you as co-buyer of the property than one can say it was jointly owned property in both your names, but it is not so.

This a general opinion I can provide without actually checking the original documents relating to the property in dispute.

I got a flat(B) in mumbai thro’ icici nre home loan six years ago.
while processing the home loan I signed one POA and given to icici bank in which I authorized my wife to proceed and sign the documents, paper work, registry, stamp duty, etc. to avail the flat(B) thro’ icici bank home loan, mumbai, in absence of myself as I was in Dubai at my workplace…

I paid/clear all the dues of home loan to bank in feb 2012.
last month on 28th March 2012 bank given me my all original documents of flat(B) to me.

Going thro’ the documents I came to know that my wife is/becomes a co-owner of flat(B).
Only the sale deed last page declares that she had signed the sale deed ”on behalf of me"
otherwise all the places in all documents her name and signature is there..

Me and my wife filed a mutual divorce from court in Ahmadabad on 19th march 2012.
In which I already agree to give another flat(A), which is in my single ownership as a full settlement of alimony/maintenance to her after decree of marriage.
she is currently staying in that other flat with my daughter.
she has almost 40% of my total property with her with one daughter (aged 14yrs)
we have two children.
my son (aged 24yrs) is staying in my flat B
I do not have any other thing left over with expect this flat(B).
she took all the belonging, gold, cash, etc.. from my place.
I am jobless from last four months..
my money is draining out fast and currently i am searching for job in dubai at the age of 49 years.
I don’t know How i will get rid of my greedy wife..

Now, I came to know from relative that she is asking half of the money of flat(B) as well and a monthly maintenance.

I need your help to know that, how I get revert the single ownership of my flat(B) on the sale deed ??

Please help…

plz consult your icici manager who is responsible for lease

I paid the downpayment and quite a few installments on an apartment in Dubai under a company called "Best Homes". After a while, I had to relocate (due to an unrelated event) and wanted to sell this property so I could get some extra cash. However, when I tried to contact the company by phone and by email, no one would answer. Their website, www.besthomesemirates.com, is now up for sale. I had someone look into their company in Dubai but their offices were empty and the supposed site of the construction was untouched. I sunk a lot of money into this so I can’t just leave it like this, but I don’t know what to do. Any advice would be appreciated. Thanks.

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i have been living in dubai for 8 months and im starting to think about maybe paying an apartment, is the economy safe in dubai, is it safe to buy a house here or is there going to be another real estate crash

stick to renting for now, its hard to know what the real estate industry is going to do next and dubai is in danger as much as any other large city

i found my property to rent on http://www.propertyfinder.ae and also used a real estate agent called allsop and allsop

looking to move home but been really put off by the classified sites you find in dubai.

does anyone know a good site is can use to find properties in dubai, ideally looking for dubai marina

I hav lived in Dubai since 2008 and have always used http://www.propertyfinder.ae the have thousands of properties and have good info and pictures. they are a portal though so you will still need a broker to do the deal.

Has anyone heard of MFR Properties Dubai llc? it is suppposobly a renting or real estate broker in dubai….but it look really dodgy to me..there is no website and the only connection is job adverts and there is no company information that i can find

there are plenty of business running here who dont have web pages . they are basically service providers and may be proprietory run businesses ….

If you are a US citizen or resident, it’s the same as if the property was in Los Angeles, CA or Nixa, MO. You report the income and expenses on Schedule E and attach that to your Form 1040 tax return.

When you sell it, any gain is taxed as a capital gain. The rates depend upon how long you held the property. If one year or less, it’s taxed as ordinary income. If held for over 1 year it’s taxed as a long-term capital gain with rates currently between 0% and 15% The 0% rate is for 2008 and 2009 only and will return to 5% in 2010; the 0% or 5% rates are limited to taxpayers in a 15% or lower marginal bracket inclusive of the gain. Additionally the depreciation recaptured at selling time is taxed at a higher rate, up to 28% depending upon your marginal tax bracket. Depreciation recapture applies whether you take the depreciation deduction or not while you rent it out, so it’s in your best interest to make sure that you claim the depreciation deduction while renting it out!

i am working in dubai and i want to buy a apartment here,lot of people are telling me to hold my purchase because they say the prices of apartments here r arificially iknflated and hence likely to come down,can some one give me an honest and unbiased opinion on the property scene in Dubai,i am in a confusion,please guide me

There is no absolute way to know what is going to happen in that market in the future.

am planning to invest in apartment in Dubai International City please let me know if its the right time to invest and how do you guys see the future for dubai property and if you recommend anywhere else to invest such as Ajman or Qatar?

Speaking both as an economist and as a 5-year resident of the Emirates, I would say that the property market in Dubai has bottomed out and now would be a good time to buy. I would definitely not buy in International City, however, as there have been many problems there with shoddy construction, lack of amenities that were promised by the developer and even some minor "gang" activity. A much, much better choice would be Dubai Marina or JLT. You’ve missed the boat in Qatar; property values there are increasing rapidly and speculation has set in, probably due to the 2022 World Cup. Ajman might be a good alternative, but I have no knowledge of the property market there.