UAE Commercial Transactions Law

Article 46 — Article (46)

Book One: Trade in General · Part Two: Business Assets, Trade Name, Unfair Competition, Trademarks and Commercial Data · Chapter One: Business Assets, Trade name and Unfair competition: Section One: Business Assets: Article (36)

1. A mortgage may not be put into effect except by an agreement notarized or attested by the Notary Public and registered in the commercial register. 2. A mortgage agreement shall contain a declaration by the debtor as to whether or not the seller has lien over the mortgaged business assets, as well as the name of the insurer of the store, if any.

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