DIFC Wills & Probate Registry and Dubai Land Department Announce ‘Fast track’ Service for Probate OrdersNovember 6th, 2016
Smoother processing of probate orders for property assets in Dubai with new update to DLD
6 November 2016, Dubai, UAE: Executors of DIFC wills can now benefit from joined-up smart government across Dubai Land Department, the Registry and DIFC Courts for exchanging property owner details and other data, effectively speeding up the probate process.
New arrangements, announced today, set out a clear process to be followed when a probate case becomes active. WPR will be able to access specific DLD databases directly to search and verify basic property ownership details, making probate quicker and smoother.In addition to information sharing, the most recent measures also allow WPR to place a block on properties subject to a probate order to prevent them being transferred to people who are not named as beneficiaries in the DIFC will – again making the executors job simpler and avoiding complex issues. There will be a small cost for placing and removing a block.
A vital aspect of the new agreement includes clarity on pricing information that will affect property owners and investors. The transfer fee percentage for close relations receiving a property via a DIFC Will is based on the current value of each property and set at the same rate of 0.125% for Sharia distribution arrangements*.
Sean Hird, Director, DIFC Wills & Probate Registry said, “The historic MoU signed last year set up a close working relationship between The Registry and Dubai Land Department. This paved the way for us to create a precise procedural arrangement which allows us to essentially ‘fast track’ probate orders. Since our inception last year we have developed strong working relationships with partners such as DLD to ensure a clear flow of information and a far smoother process for those involved.”
The signing of the new MoU Schedule comes just weeks after WPR launched its unique online property will facility. For the first time ever, property owners can now complete a template will online that is specifically limited to real estate. Although the WPR strongly recommends considering legal advice, the property will is straightforward for individuals to complete. The formalities of registration remain the same as for all other forms of will that are registrable at WPR.Hird continued, “The practical arrangements which have been agreed with DLD combined with our recent launch of a facility that allows property owners the option to complete a template will online, underscores our commitment to making a DIFC services available to as many people as possible.”
The will registration appointments can be made online on the WPR website: www.difcwills.ae.
Notes to Editors
|Fee payable to the DLD to block one property||AED120|
|Fee payable to the DLD to ‘release’ one previously blocked property||AED1000|
|Fee payable to the DLD to transfer property in accordance with a portable order||For beneficiaries who are first or second degree relatives||all other beneficiaries|
The full MoU and new Schedule are available on the Wills & Probate Registry website www.difcwills.ae.
About DIFC Wills and Probate Registry
The DIFC Wills and Probate Registry (WPR), a public entity of the Dubai Government, is an ancillary body of DIFC’s Dispute Resolution Authority (DRA) established by Resolution No. 4 of 2014 issued by Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, the President of the Dubai International Financial Centre (DIFC). The Registry is established under the jurisdiction of the DIFC Courts, allowing it to operate as a distinct entity.
The W&PR provides legislative certainty that a person’s Dubai-based assets will be distributed as set out in their registered wills. The rules governing the W&PR reflect the spirit of UAE laws that respect the cultural and religious diversity of people working and living in the country. In accordance with the rules, the W&PR scope extends to estates located in the Emirate of Dubai and owned by both non-Muslim residents and non-residents. The DIFC is the first jurisdiction in the MENA region where one can register an English language will under internationally-recognised common law. For easy registration appointments visit: www.difcwills.ae