Request to obtain approval for transferring the escrow account from its current bank to another financial institution
This service allows customers to obtain approval for transferring the escrow account from its current bank to another for the for the jointly owned property
Via e-system:
Step 1: Sign up or log in to the Mollak system. If you are a new user, create an account by providing the required information. For existing customers, simply log in and select the desired service.
Step 2: Enter the necessary details in the provided fields, attach the required documents as specified, and submit the application online.
Step 3: Your application will undergo an auditing process. You will receive a notice of acceptance or rejection via the system, informing you of the status of your application.
Step 4: Upon approval of your application, you will receive a notice of approval via email, confirming the successful processing of your request.
Step 5: To access the data related to your application, visit the Land Department's website and navigate to the Mollak system. You will be able to view the relevant information and updates regarding your submitted application.
1 Business Day
1.Prior to closing the old escrow account, ensure that you have obtained approval from the Real Estate Regulatory Authority.
2. The previous account custodian is responsible for transferring the available balance in the account to the new bank, along with all relevant documents and records pertaining to the account (e.g., approved budget, expenditure details, etc.).
3. The new account custodian should provide the updated bank account information through the Mollak system
The official website of Dubai Land Department (Mollak System)
None
View Data via the Mollak System
Banks
Companies
