DIFC Courts Protects Property Assets With Emaar Properties Cooperation Agreement
Sumaira FH 13 days ago Sat 05th June 2021 | 12:15 PM
DUBAI, (UrduPoint / Pakistan Point News / WAM - 05th Jun, 2021) The Dubai International Financial Centre (DIFC) Courts and Emaar Properties have signed a cooperation agreement to promote the Wills Service provided by the UAE’s first English-language common law court.
The agreement will encourage greater awareness and consideration across Emaar Properties’ portfolio of this unique public Wills Service, offering both investors and residents additional protection on real estate investments in the UAE.
Justice Omar Al Mheiri, Deputy Chief Justice, DIFC Courts, said, "This is a public service designed and introduced to provide people with choice. The UAE is home to over eight million expatriates, many of whom have settled in the country and purchased a home for their family. In addition, the UAE has welcomed and enabled many foreign investors to make property investments. The DIFC Courts has, therefore, created a mechanism that can contribute final peace of mind where property is concerned. This new alliance with one of the UAE’s flagship developers, will ensure that another layer of awareness for those choosing Dubai and the UAE as a destination for property ownership."
Ahmad Matrooshi, Executive board Member, Emaar Properties, said, "The partnership with the DIFC Courts underlines Emaar Properties’ commitment to delivering the highest of quality of living to all our customers. Emaar Properties remains focused on progressing at great speed with all of our projects and we are committed to providing our residents with exceptional service and safety."
Launched through a partnership in 2015 between the DIFC Courts and the Government of Dubai, the Wills Service was established to enable non-Muslims who are investing and living in the UAE to pass on their assets and appoint guardians for their children in line with their wishes through a Will registration service.
As a part of the UAE Government’s commitment to effectively employ advanced technologies and digital platforms to continue services to the public during COVID-19, in 2020 the DIFC Courts leveraged its digital infrastructure to offer videoconferencing for Will registrations.
With various individuals and businesses across the UAE operating remotely, the new video conferencing facility can be accessed via a smartphone, tablet, or a desktop device, allowing residents and investors to register their Will remotely, from the safety and comfort of their own home. The new system now allows the Testator and two (2) Witnesses to join in on the video conferencing call from different locations. The system also allows an approved Will to be directly uploaded on the system and to affix electronic signatures.
Remote registrations add an additional layer of digital access to the current Virtual Registry for Wills, which allows those living overseas to create and register a DIFC Courts Will. Investors and residents can access it from anywhere in the world and be connected, via video link, to a compliance officer sitting in Dubai.
The DIFC Courts also provides an online automated will drafting service for Property Wills, with comprehensive explanatory notes, should individuals wish to draft the Will independently.