Notice of Intention to Foreclose

Document Summary

This notice is used by a creditor to inform a debtor that he will commence to expropriate and sell the mortgaged property in case the debt is not cleared within 30 days of receipt of this notice.

Description

This notice is drafted in accordance with article 1419 of Federal Law No. 5 of 1985 Concerning Civil Transactions Law as amended by Federal Law No. 1 of 1987 as well as articles 25 and 26 of Mortgage Law No. 14 of 2008 of the Emirate of Dubai.

Jurisdiction

This document is intended for use in the Emirate of Dubai.

Before Execution

• The information on this front page or contained in the headers and footers of this instrument are for guidance purposes only.
• Please delete this front page together with the information contained in the headers, footers and the endnotes prior to circulating this letter. Where square brackets […] and highlights are used in the document, it indicates that there is missing or incomplete information which will need to be incorporated prior to signature.
• Please remove the square brackets and all highlighting prior to signature.

Disclaimer

This document is provided for reference only and is not intended to be, and should not be considered, legal advice. Determinations about whether this document will be appropriate in your particular situation or jurisdiction should be made after consultation with a legal counsel. Kanoony will not assume any legal liability that may arise from the use of this document.