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Tuesday, December 24, 2024
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Municipality ‘tightens’ real estate agencies guidelines

publish time

23/12/2024

publish time

23/12/2024

Municipality ‘tightens’ real estate agencies guidelines

KUWAIT CITY, Dec 23: The Acting Director General of Kuwait Municipality, Manal Al-Asfour, has issued an administrative circular aimed at regulating real estate agencies based on recommendations from the Legal Department. The circular, a copy of which has been obtained by Al-Seyassah daily, permits parties involved in nonrevocable or irrevocable real estate agencies active at the time of the issuance of Law 125/2023 to obtain a building description certificate and survey books to identify properties in violation. This is subject to the following four conditions:
Application Deadline: Applications must be submitted by one of the agency parties to the Director General of the Municipality before the close of business on December 31, 2024.
Violation Removal Pledge: The person benefiting from the agency must submit a pledge to remove any violations after completing the property transfer.
Procedural Compliance: The beneficiary must pledge to complete all financial and administrative requirements related to any organizational, division, or public benefit decisions associated with the property, with the successor assuming the predecessor’s commitments.
Limited Validity: The building description certificate and survey books must explicitly state they are valid for one-time use only. This measure seeks to ensure compliance with legal requirements while addressing violations in real estate practices

By Enaas Awad
Al-Seyassah/Arab Times Staff