UAE Commercial Transactions Law

Article 495 — Article (495)

Book Three: Banking Transactions · Part Six: Commercial Transactions of Islamic Financial Institutions · Chapter Two: Special Provisions for Certain Types of Contracts and Obligations to which Islamic Financial Institutions are a Party: Section One: Promise to Contract: Article (475) · Section Six: Ijarah [LEASE]: Article (491)

1. The object of an ijarah contract shall be the benefits of property, and its handover shall be fulfilled where such benefits are handed over, and must be capable of being satisfied and specified so as to resolve any dispute. 2. A lessor may not stipulate that he will be discharged from the liability for defects in the leased property, which will prejudice the realization of benefits intended from the ijarah contract, or be discharged from any liability for defects occurring to the property that are prejudicial to the realization of its benefits, whether by the lessor's act or for a reason beyond his control. 3. The lessor shall pay the basic costs of maintenance of the leased property and insurance against damage. The lessor may not stipulate that such costs are to be paid by the lessee or initially agree to add the same automatically to the rent, and any agreement to the contrary shall be null and void.

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