27 February 2017
The new UAE Mortgage Law, entering into force on 15 March 2017, is anticipated to be a milestone for parties seeking to create effective security packages with more certainty on enforcement over movable assets in the UAE.
In this technical briefing, we provide an overview of the current position, the key provisions of the Mortgage Law and what the new regime might potentially offer to those seeking to utilise it. We also outline some key areas of uncertainty and further actions which we recommend our clients consider as part of their strategies now. In particular, it will be critical for parties to remain aware over the coming months, that time-sensitive steps, many of which are yet to be clarified, are likely to need to be taken in relation to existing security packages over movable assets once the infrastructure for registration is in place.
New Mortgage Law in UAE – briefing on key issues