A signed contract fixing a broker's fee and the trigger for earning it (introduction, exchange, or completion); across the Gulf and Egypt a written, dated agreement is essential because oral commission claims are hard to enforce.
Related terms
- Conveyancing
The legal process of transferring property ownership from seller to buyer.
- Customary land tenure
Rights to land derived from community tradition and local custom rather than statutory registration; widespread across sub-Saharan Africa and often coexisting…
- Easement
A right to use part of another land for a specific purpose, such as access.
- Ejari
Dubai system for registering tenancy contracts, formalising the rental relationship.
- Encumbrance
A claim or liability attached to a property, such as a mortgage or easement.
- Foreclosure
The legal process by which a lender enforces its mortgage security and sells the property to recover the debt after borrower default.
- Land registry
The official record of land ownership and interests in a jurisdiction.
- Legal opinion
A lawyer's formal written assessment of a specific legal question, such as title validity or enforceability of security; lenders and investors routinely requir…