On 21 September 2021, H.H the Ruler of the Emirate of Ras Al Khaimah issued Law No. (11) of 2021 in respect of the real estate register in the Emirate of Ras Al Khaimah (the Real Estate Register Law) which came into effect on the date of its publication in the official gazette. This update provides a summary of the key provisions of the Real Estate Register Law and will be of interest to those operating in the real estate and financial sectors in the Emirate of Ras Al Khaimah (RAK).
As the name indicates, the Real Estate Register Law relates to the establishment and operation of a property register (the Real Estate Register) that will be maintained by the Real Estate Department (the Department) at the RAK Municipality for the purposes of recording the details of real estate properties in RAK and all rights and dispositions affecting them, including any subsequent changes. Whilst property rights were registered in RAK prior to the promulgation of the Real Estate Register Law as a matter of unwritten practice, it is the first time that a law is issued to formally address this aspect.
We expand on the summaries in the full article.