Dubai Mortgage Law

This course will focus on mortgage in Dubai in the light of the UAE Code of Civil Transactions and Dubai law no. 14 of 2008. Mortgage is a contract that grants the creditor, in respect of a real property or a property unit, an in rem right to discharge his debt and entitles him to have priority over ordinary creditors and credits next in rank to recover his debt from the price of the property from any possessor thereof. In this course, we will tackle the following topics: 1- The characteristics of mortgage; 2- Its legal effects: o vis-à-vis the debtor-mortgager (his right to dispose of the mortgaged property, subject of the mortgage; his right to manage it and use it and his obligation to secure the mortgaged property); o vis-à-vis the creditor-mortgagee (in particular his right to assign it to third parties, his right to recover his debt from the mortgaged property). o vis-à-vis third parties (in particular the right of the mortgager to recover his debt in priority over ordinary creditors next in rank and to trace the mortgaged property with any possessor). 3- The expiry of the mortgage