MOU (Memorandum of Understanding): In UAE practice, this term often refers to the Sale
Agreement or Form F that outlines all terms of a property transaction (price, payment schedule,
responsibilities) and is signed by buyer and seller. Although called an “MOU,” it is a binding
contract for the sale. Sometimes a separate shorter document called an MOU is used prior to the
formal sale contract, but in Dubai Form F serves this purpose. Example: Once we agreed on
selling the house, both parties signed an MOUspecifying the price, 10% deposit, and that the sale
is subject to the buyer obtaining a mortgage approval.
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