What is OQOOD? How it works?

[babeko]

Ladies and Gents.

I am addressing my question with our real case to those who are familair with such kind of situation or at least some how does much know about it.

We bought a property in Dubai on a credit base and had a schedule of payments. We registered at OQOOD in 2009 - we have been asked to fill in the OQOOD blank and paid some fund for this registrtion to the owner/developer bank account who we bought the apartment from.

End of 2012 we have been offered a differed apartment in another project but with the same owner/developer. We agreed to change it as it was cheaper and we had some dificulties with payments in time.

Now we are asked to register again at OQOOD.

My questions:
1) As I understand from the link oqood.ae/PublicSite/Oqood%20User%20Manual-Developer%20Guide-v1.1.pdf
we should have been given a login name and a password for OQOOD system for further use right afer we wee registered at OQOOD (if we were). Should't we?
Or how does it work?

2) Must we again register at OQOOD for another apartment in our case?

3) How does OQOOD work? How does this system protect buyer's rights in this kind of situaton?

I would appreciate your help and assistance.

thank you and regards,

 

[RUKH]

Oqooq is a necessary registration of any offplan freehold property required by buyers. Its doesnot offer any extra protection, is just a proof that you own so and so unit in so and so tower, as sometimes in past some developers will sell offplan floors to investors and disappear and these investors doesnot have any proof of purchase/property details/floor plans etc. Incase of developers's default or disappearence you can take your oqood certificate to lands dept. as proof of ownership and they will resolve the issue through liquidation commmittee, from the trust/escrow account of that project.

 

[babeko]

Dear Rukh. Thank you for the respond.

But I still have question: Do I have to re-register again for the new aparment? I have changed just a contract.

 

[marksaref]

Nice Explain