Family Property Management according to the UAE Civil Transactions Law.

Family Ownership is a special form of common ownership, which is distinguished from it in that the owners in participation are relatives who belong to one family or family. The UAE legislator has regulated common ownership in Articles (1183-1188) of the UAE Civil Transactions Law. Family Ownership is based on a main aspect: Family Ownership Management, which is intended to protect and exploit the funds that make up family ownership, that is, to carry out all the necessary actions to obtain its results. Therefore, the rules of common ownership apply to the management of family property, except for the rules stipulated in the UAE Civil Transactions Law in Article (1186) with its first and second paragraphs with regard to the management of family property, and the rest of the rules apply to the management of family property as well as to the management of common property, as well as systems for preservation work as one aspect of its management and setting rules that govern the expenses of keeping and managing it. The study aims to shed light on how to manage family ownership, and to develop a comprehensive and clear legal framework for organizing family ownership management. The study concludes with results, including: The general rule that governs the management of any common money, including family ownership, is the consensus rule, and the UAE Civil Transactions Law allows partners to appoint one or more managers to manage family ownership. The study recommends that: the urgent need for a legislative regulation of family ownership in an independent federal law, similar to the Dubai legislator, given its great importance, especially in the field of family businesses and real estate. The legislator should change the term (single family), and we suggest that it stipulate “family members or others who are united by a business unit or an interest to agree…”.