Welcome back to The Conveyance Desk. In Episode 14, we covered Power of Attorney for property transfers — compliant POAs, attestation requirements, and the common reasons documents get rejected. Today, in Episode 15, we’re discussing off-plan resale — the process of selling an off-plan property before handover by assigning the Oqood-registered interest to a new buyer. As always, this is educational content only and not legal advice. Every developer SPA is different, and assignment rules can vary, so always review the relevant agreement carefully. An off-plan property is a unit still under construction. The buyer has signed an SPA with the developer, and their interest is registered with DLD through an Oqood registration. Since the title deed has not yet been issued, what is being sold is not legal title, but the buyer’s registered position under the SPA. For an assignment to happen, two things are essential: • The Oqood must already be registered. • The SPA must allow assignment. Some developers permit immediate resale, while others impose conditions such as holding periods or prior approval requirements. Reviewing the SPA before marketing the unit is critical. The developer plays a central role in the assignment process. They must approve the transfer, issue the required NOC, update their records, and collect any assignment fees stated in the SPA. These fees are commonly calculated as a percentage of the unit value. The incoming buyer effectively steps into the original buyer’s position. They take over the remaining payment plan, the expected handover timeline, and the original SPA obligations. Payments already made remain attached to the property, while the new buyer compensates the original buyer based on the agreed assignment price. Pricing an off-plan assignment is different from pricing a ready property. The seller is not transferring a completed asset, but rather a partially paid contractual position. The buyer therefore pays both the assignment value and the remaining instalments due to the developer. Assignments are generally processed through DLD, often at a Trustee Office. The original buyer, new buyer, and developer representative attend, documents are verified, fees are paid, and a new Oqood is issued in the new buyer’s name. Financing adds another layer. Banks can finance Oqood units, but any mortgage approval must align with the developer’s NOC timeline and trustee booking process. If the original buyer still has existing finance on the property, settlement and discharge procedures must also be coordinated before transfer. Most assignment delays happen because of developer NOC issues, SPA payment arrears, or financing timing mismatches. Resolving these early can prevent major transfer-day problems. While the process resembles a standard transfer, the legal structure is different. In a ready property sale, the seller transfers legal title. In an off-plan assignment, the seller transfers a registered contractual position with the developer. Once the project completes and title deeds are issued, the property then becomes a standard property and future sales follow the normal transfer process. In the next episode, we’ll cover family gift transfers — the Hiba route, reduced transfer fees, eligibility requirements, and why the same property cannot usually be gifted twice. That’s all for today. This was The Conveyance Desk.
