enTrust and Title Services
The following information is designed to give a comprehensive overview of enTrust & Title and the Company's Escrow & Title Conveyance Services.
1. What is Escrow?
Escrow is a mechanism used to effectuate real property transfers and other transactions such as exchanges, leases and sales of personal property, securities and loans.
Escrow means any transaction wherein one party delivers an item of value, such as any written instrument, money or evidence of title to real or personal property, to an escrow agent. This item of value is then to be held until a specified event or performance of a prescribed condition occurs, when it is then to be delivered by the escrow agent to the other party for the purpose of affecting the sale, transfer, encumbering or leasing of real or personal property.
2. What is Title Conveyance?
Conveyancing is the legal process by which the transfer of ownership in land is affected safely between a buyer and seller. Conveyancing means carrying out all steps necessary to transfer title of property from one person to another, or the granting or discharging of an encumbrance on property such as a mortgage. By law in most countries, conveyancing must be done by a solicitor or licensed conveyancer.
3. Who is enTrust & Title?
enTrust & Title is the UAE's first Escrow & Title Conveyance Services company licensed by the Real Estate Regulatory Authority (RERA) and the Dubai Land Department, renowned for its proven methods in facilitating property transactions, mitigating financial risk to all parties.
The Company employs qualified escrow agents with over 32 years of deep industry expertise from the USA, UK and Europe. It is also the approved, recommended consultant certified by the Dubai Real Estate Institute to provide Escrow & Title Conveyance training for RERA training classes.
As an independent, neutral third party, the Company works with brokers, agents, attorneys, developers, lenders and individuals. Its services can be utilised in residential, commercial and retail real estate and other business transactions.
In response to the challenges of the real estate market, enTrust & Title also offers transparent, safe, neutral and guaranteed ways to facilitate the transfer of ownership and offers protection to the buyer, seller, landlord and tenant. Issues relating to legal ownership, authority to enter into contact, registration of deed, financial disclosures and availability of documents in time for resale are all resolved when using the Company's enTrusted Escrow &Title Conveyance Services.
Confidential information such as ownership, property and loan details are secured through enTrust & Title's state-of-the-art technology, including biometric authentication and signature verification, mitigating financial risks to all parties. The Company stands behind its quality of service by offering appropriate guarantees.
4. What are the benefits of using enTrust & Title?
enTrust & Title works with all the top brokers, agents, attorneys, lenders and developers in Dubai and across the UAE, many of whom refer their clients to us routinely.
6. What is an Escrow Instruction?
All principals involved in the Escrow and/or title conveyancing transaction must sign instructions which fully set forth the understanding of all parties associated with the transaction. The Escrow instructions are the principal's instructions to enTrust & Title to deliver documents and funds respectively on the performance of conditions stipulated in the transaction.
Escrow Instructions set out the conditions to be performed by the principals to implement the contractual terms agreed by all parties. For example, an Memorandum of Understanding (MOU) for the sale of real estate will set out the terms and conditions upon which the seller has agreed to sell and the buyer has agreed to buy, and the Escrow Instructions will set out the duties of each party to ensure that both the buyer and seller perform as agreed under the MOU.
7. What role does enTrust & Title play in the deal?
enTrust & Title's primary role is to monitor and manage the transaction to ensure that the principals perform as agreed under the Escrow Instructions. The Company may also carry out the Title Conveyancing activities required to close the transaction.
enTrust & Title must remain strictly neutral, not advising or favouring either party. The Company maintains records and files on a daily basis in order to ensure that no procedures are overlooked to help guarantee that closing happens as agreed by all parties. enTrust & Title will account for all items to be handled, recorded and delivered in the transaction, including funds.
8. What types of Escrow services do enTrust & Title provide?
Escrows may be terminated by mutual written consent of all parties. A principal seeking to cancel a contract of purchase or sale should be sure the other party to the contract agrees in writing to do precisely that. The Terms and Conditions of such a cancellation must be spelt out in the said Escrow cancellation instruction. If a purchase agreement is not cancelled along with the Escrow, either party to the agreement may retain the right to specific enforcement of the contract or for the recovery of damages. If the principals agree to cancel the Escrow, they are entitled to the return of their respective documents and funds.
10. Who are you licensed by?
enTrust & Title is licensed by the Real Estate Regulatory Authority (RERA) and the Dubai Land Department, and have 3 patents filed in the USA from the UAE.
11. Do you have insurance?
Yes. We have professional indemnity and fidelity insurance cover from a well reputed multinational insurance Company and have obtained coverage to protect our customers against any professional errors/omissions and/or employee theft/fraud.
12. What does enTrust & Title teach in the Escrow Training sessions?
a. INTRODUCTION TO ESCROW
Industry professionals at executive and management level within the real estate, finance or business sectors who work with clients requiring Escrow services, such as lenders, brokers, developers and attorneys.
Professionals and non-practitioners who would like to learn about the authority, responsibility and accountability of an Escrow Agent and pioneer the implementation of transparency and impartiality best practices within their market/place of work, differentiating themselves above the competition.
Service providers who require an impartial third party to facilitate a transaction by holding funds/documents, safeguarding business practices in line with recent/upcoming market trends.
1. What is Escrow?
Escrow is a mechanism used to effectuate real property transfers and other transactions such as exchanges, leases and sales of personal property, securities and loans.
Escrow means any transaction wherein one party delivers an item of value, such as any written instrument, money or evidence of title to real or personal property, to an escrow agent. This item of value is then to be held until a specified event or performance of a prescribed condition occurs, when it is then to be delivered by the escrow agent to the other party for the purpose of affecting the sale, transfer, encumbering or leasing of real or personal property.
2. What is Title Conveyance?
Conveyancing is the legal process by which the transfer of ownership in land is affected safely between a buyer and seller. Conveyancing means carrying out all steps necessary to transfer title of property from one person to another, or the granting or discharging of an encumbrance on property such as a mortgage. By law in most countries, conveyancing must be done by a solicitor or licensed conveyancer.
3. Who is enTrust & Title?
enTrust & Title is the UAE's first Escrow & Title Conveyance Services company licensed by the Real Estate Regulatory Authority (RERA) and the Dubai Land Department, renowned for its proven methods in facilitating property transactions, mitigating financial risk to all parties.
The Company employs qualified escrow agents with over 32 years of deep industry expertise from the USA, UK and Europe. It is also the approved, recommended consultant certified by the Dubai Real Estate Institute to provide Escrow & Title Conveyance training for RERA training classes.
As an independent, neutral third party, the Company works with brokers, agents, attorneys, developers, lenders and individuals. Its services can be utilised in residential, commercial and retail real estate and other business transactions.
In response to the challenges of the real estate market, enTrust & Title also offers transparent, safe, neutral and guaranteed ways to facilitate the transfer of ownership and offers protection to the buyer, seller, landlord and tenant. Issues relating to legal ownership, authority to enter into contact, registration of deed, financial disclosures and availability of documents in time for resale are all resolved when using the Company's enTrusted Escrow &Title Conveyance Services.
Confidential information such as ownership, property and loan details are secured through enTrust & Title's state-of-the-art technology, including biometric authentication and signature verification, mitigating financial risks to all parties. The Company stands behind its quality of service by offering appropriate guarantees.
4. What are the benefits of using enTrust & Title?
-
a. Buyers:
- Protect all funds in Escrow/trust account until transaction is complete, ensuring total security.
- Complete due diligence process, ensuring that you are dealing with a genuine seller who is indeed the legitimate owner or landlord of the property.
- Ensure you and only you are purchasing the property in question by preventing the resale of the property until the transaction is complete.
- Fairly prorate Owner's Association dues, rents and security deposit.
- Proper and legal transfer of title in the name of the buyer and/or his designates.
- Safe and secure information perpetually archived for future use.
- Innovative options such as rent-to-own initiatives provide benefits such as 'cooling–off' period before buying, mitigating economic risk and optimise cash flow.
-
b. Sellers:
- Provide attractive options to market your property at terms that would sell at good value such as seller carry back.
- Coordinate with all parties on your behalf, such as Dubai Land Department, lenders and developers.
- Ensure good funds at the time of transfer of title deed certificate.
- Fairly prorate, calculate and pay-off Owner's Association, DEWA, maintenance, penalties, loan etc.
- Coordinate loan pay-off with financial institution just prior to transfer.
-
c. Brokers & Attorneys:
- Guarantee commission at completion of transaction.
- Eliminate risk & liability through increasing transparency and securely depositing funds in an Escrow/trust account, ensuring peace of mind.
- Enable you to close more deals by offering new solutions to everyday transactions, accommodating the needs of both buyer and seller.
- Save you time and resources through the effective management of the transaction, freeing up your agents to spend more time in the market, generating leads and closing deals.
- Provide accounting for all funds received and disbursed from Escrow/trust account in accordance with the Sales and Purchase Agreement (SPA).
- Research the records at the Dubai Land Department to authenticate ownership, property details and any mortgage holders and signatories on the contract.
- Interface with all parties to identify exact pay-off amount for existing loans, buyer's new loan, government fees, commissions, Owner's
- Association dues and provide an estimated closing statement to manage expectations from the outset.
- Expedite the process and follow up on key issues to ensure that the terms and conditions of the contract have been adhered to and all risk elements are addressed.
-
d. Lenders:
- Drive new business to you – we are the first point of customer contact, providing the best forum in which to market additional products & services.
- Manage and collate all legal and loan documentation upfront, including automatic loan application at time of entering into SPA, increasing the efficiency and transparency of the due diligence process.
- Funds in Escrow/trust account provide protection for collateral, mitigating risk and liability.
- All legal and loan documentation is perpetually archived and secured on the enTrusted Token.
-
e. Developers:
- Instill and maintain investor confidence through increasing transparency and establishing best practices.
- Streamline process for transfer of title.
- Conform to all current and future regulations.
- All relevant documentation including engineering and architectural drawings is stored on the enTrusted Token.
-
f. All:
- Dedicated enTrusted Escrow Officer assigned to you and your transaction as a personal contact.
- Full disclosure – complete transparency of all costs, disbursements and cash requirements.
- Ensure privacy and eliminate fraudulent sale or rental transaction through the enTrusted Token, using biometric authentication and signature verification.
- No unpleasant surprises – only the instructions mutually directed by all parties are executed upon.
- Ease of doing business through green technology– remote signing of all documents alleviates the need for travel, taking the stress out of doing business and reducing you and your company's carbon footprint.
- Real time status update of the transaction available 24 hours-a-day, 7 days-a-week.
- In-house Legal counsel reviews all documents, capturing and rectifying all unaddressed issues.
enTrust & Title works with all the top brokers, agents, attorneys, lenders and developers in Dubai and across the UAE, many of whom refer their clients to us routinely.
6. What is an Escrow Instruction?
All principals involved in the Escrow and/or title conveyancing transaction must sign instructions which fully set forth the understanding of all parties associated with the transaction. The Escrow instructions are the principal's instructions to enTrust & Title to deliver documents and funds respectively on the performance of conditions stipulated in the transaction.
Escrow Instructions set out the conditions to be performed by the principals to implement the contractual terms agreed by all parties. For example, an Memorandum of Understanding (MOU) for the sale of real estate will set out the terms and conditions upon which the seller has agreed to sell and the buyer has agreed to buy, and the Escrow Instructions will set out the duties of each party to ensure that both the buyer and seller perform as agreed under the MOU.
7. What role does enTrust & Title play in the deal?
enTrust & Title's primary role is to monitor and manage the transaction to ensure that the principals perform as agreed under the Escrow Instructions. The Company may also carry out the Title Conveyancing activities required to close the transaction.
enTrust & Title must remain strictly neutral, not advising or favouring either party. The Company maintains records and files on a daily basis in order to ensure that no procedures are overlooked to help guarantee that closing happens as agreed by all parties. enTrust & Title will account for all items to be handled, recorded and delivered in the transaction, including funds.
8. What types of Escrow services do enTrust & Title provide?
- Sale – Purchase
- Rental & Leasehold
- Seller carry back & Rent to own
- Time Share (Sukuk) model
- Construction
- Developer / Investor (individual, entity, private equity)
- Bridge financing
- Intellectual Property (IP), asset or inventory
- Concurrent Escrows (original seller to eventual buyer)
- Swap property
- Bad debt escrows
- Bulk (business) sale
Escrows may be terminated by mutual written consent of all parties. A principal seeking to cancel a contract of purchase or sale should be sure the other party to the contract agrees in writing to do precisely that. The Terms and Conditions of such a cancellation must be spelt out in the said Escrow cancellation instruction. If a purchase agreement is not cancelled along with the Escrow, either party to the agreement may retain the right to specific enforcement of the contract or for the recovery of damages. If the principals agree to cancel the Escrow, they are entitled to the return of their respective documents and funds.
10. Who are you licensed by?
enTrust & Title is licensed by the Real Estate Regulatory Authority (RERA) and the Dubai Land Department, and have 3 patents filed in the USA from the UAE.
11. Do you have insurance?
Yes. We have professional indemnity and fidelity insurance cover from a well reputed multinational insurance Company and have obtained coverage to protect our customers against any professional errors/omissions and/or employee theft/fraud.
12. What does enTrust & Title teach in the Escrow Training sessions?
Course Objectives
- Gain a complete understanding of all elements of Escrow & Title Conveyance, including the need for a neutral third party, definition of Escrow & Title
- Conveyance and the different types of Escrow.
- Establish requirements for Escrow and the duties of an Escrow agent, describing the processes involved in the opening, closing and maintenance of an Escrow.
- Explore the relationship between the Escrow agent and third parties such as lenders, developers, attorneys, Owner's Association and Government bodies.
- Understand the legal issues and obligations surrounding Escrow & Title Conveyance.
- Examine financial best practices in the management of Escrow funds.
- Recognise the need for privacy and security of the principals in a transaction.
a. INTRODUCTION TO ESCROW
- History
- Overview
- Purpose
- Process
- Different types of Escrow
- Role of industry professionals (brokers, attorneys, developers, lenders etc.)
- Privacy and security
- Escrow instructions and trust accounts
- Responsibilities of an Escrow Agent
- Documentation – SPA, MOU, Power of Attorney, contracts, statements, attestation
- General – transparency, security of funds
- Estimated vs. final closing statements
- Auditability and co-mingling of funds
- Insurance, financing and penalties/interest
- Flow chart and description of each step
- Roles of participants
- Conveyance process
- Timetable
- Mortgage
- Off-Plan
- Deferred Projects – credit Notes, consolidations and swaps
- Negative equity
Industry professionals at executive and management level within the real estate, finance or business sectors who work with clients requiring Escrow services, such as lenders, brokers, developers and attorneys.
Professionals and non-practitioners who would like to learn about the authority, responsibility and accountability of an Escrow Agent and pioneer the implementation of transparency and impartiality best practices within their market/place of work, differentiating themselves above the competition.
Service providers who require an impartial third party to facilitate a transaction by holding funds/documents, safeguarding business practices in line with recent/upcoming market trends.
Search property for sale
in the UAE
in the UAE
Find thousands of UAE villas
and apartments to rent
and apartments to rent
Get a FREE, instant value
estimate for any UAE home
estimate for any UAE home
