The Land Purchase And Sale Contract is a fundamental legal document used in Austrian real estate transactions to transfer property ownership. It is essential for any real estate transaction in Austria, whether residential, commercial, or agricultural. The document must comply with strict formal requirements under Austrian law, including mandatory notarization and specific provisions for land registry registration. It contains detailed information about the property, parties involved, purchase price, payment terms, warranties, and conditions for transfer. The contract must address various aspects of Austrian property law, including the Grundbuchsgesetz (Land Registry Act) and Grunderwerbsteuergesetz (Real Estate Transfer Tax Act). It is particularly important as property transfers in Austria are only legally effective upon registration in the land registry, making the precise drafting of this document crucial for successful completion of the transaction.
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1. Parties: Identification of the seller and purchaser with full legal names, addresses, and registration details if applicable
2. Background: Context of the transaction and brief description of the property being sold
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Description: Detailed description of the property including land registry details, cadastral number, size, and address
5. Purchase Price: Specification of the purchase price, payment terms, and payment schedule
6. Transfer of Ownership: Terms and conditions for the transfer of title and registration in the land registry
7. Representations and Warranties: Seller's declarations regarding property condition, encumbrances, and legal status
8. Closing Conditions: Prerequisites for completion of the sale including documentation and regulatory requirements
9. Costs and Taxes: Allocation of transaction costs, transfer taxes, and registration fees
10. Handover: Terms for physical handover of the property and transfer of utilities
11. Governing Law and Jurisdiction: Confirmation of Austrian law application and jurisdiction
12. Execution: Signature requirements including notarization provisions
1. Mortgage and Encumbrances: Details of existing mortgages and process for discharge, used when property has existing encumbrances
2. Environmental Provisions: Specific provisions regarding environmental conditions or contamination, used when environmental issues are present
3. Agricultural Land Provisions: Special provisions required for agricultural land transfers under Grundverkehrsgesetz
4. Foreign Buyer Provisions: Additional requirements when purchaser is not an Austrian resident
5. Tenant Provisions: Details of existing tenancies and handling of lease agreements, used when property is tenanted
6. Development Conditions: Specific conditions relating to future development plans, used when property has development potential
7. Agent Provisions: Terms relating to real estate agents' involvement and commission, when agents are involved
1. Property Plan: Cadastral plans and property boundaries
2. Land Registry Extract: Current land registry extract (Grundbuchauszug)
3. Building Permits: Copies of existing building permits and certificates
4. Property Condition Report: Technical assessment of property condition
5. Inventory List: List of included fixtures and fittings
6. Energy Certificate: Energy performance certificate (Energieausweis)
7. Payment Schedule: Detailed schedule of payment installments if applicable
8. Existing Encumbrances: Details of any existing mortgages or other encumbrances
Authors
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Construction
Agriculture
Retail
Hospitality
Industrial
Commercial Property
Residential Property
Banking and Finance
Legal Services
Public Sector
Environmental Services
Relevant Teams
Legal
Real Estate
Property Management
Asset Management
Investment
Finance
Compliance
Operations
Business Development
Risk Management
Relevant Roles
Real Estate Lawyer
Property Manager
Real Estate Agent
Legal Counsel
Notary
Land Registry Officer
Property Developer
Investment Manager
Asset Manager
Facilities Manager
Construction Manager
Real Estate Investment Analyst
Real Estate Portfolio Manager
Commercial Director
Chief Legal Officer
Chief Financial Officer
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