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The Option To Buy Agreement is commonly used in UAE real estate transactions where parties seek to establish future purchase rights while maintaining flexibility. This document is particularly relevant in developing markets like Dubai and Abu Dhabi, where property values can fluctuate significantly. The agreement provides the option holder with exclusive rights to purchase a property at pre-agreed terms, while the property owner receives consideration for maintaining this option. The document must comply with UAE federal laws and emirate-specific regulations, including requirements for property registration and transfer. It typically includes comprehensive details about the property, option exercise procedures, payment terms, and conditions precedent. This type of agreement is especially useful in commercial real estate transactions, development projects, or when parties need time to arrange financing or conduct due diligence.

1. Parties: Identifies and provides full details of all parties to the agreement, including legal names, addresses, and registration details for companies

2. Background: Sets out the context of the agreement and brief description of the transaction

3. Definitions: Defines key terms used throughout the agreement

4. Grant of Option: Clearly states the grant of the option to buy and its basic terms

5. Option Period: Specifies the duration for which the option is valid and any extension provisions

6. Option Price: Details the amount payable for the option itself (if any)

7. Purchase Price: Specifies the agreed purchase price for the property if the option is exercised

8. Exercise of Option: Describes the process and requirements for exercising the option

9. Payment Terms: Outlines the payment structure, including deposits, installments, and final payment

10. Property Details: Comprehensive description of the property subject to the option

11. Seller's Obligations: Lists the obligations of the seller during the option period

12. Buyer's Obligations: Lists the obligations of the option holder during the option period

13. Representations and Warranties: Standard representations and warranties from both parties

14. Termination: Circumstances under which the agreement can be terminated

15. Governing Law and Jurisdiction: Specifies UAE law as governing law and relevant courts

16. Notices: Details how formal notices should be given between parties

17. General Provisions: Standard boilerplate clauses including entire agreement, amendments, etc.