The Simple Real Estate Purchase Contract is a fundamental legal document used in Austrian property transactions to formalize the transfer of real estate ownership. This document is essential when any party wishes to purchase or sell real property in Austria, whether it's residential, commercial, or land. The contract must comply with Austrian Civil Code (ABGB) requirements and typically requires notarization. It includes crucial information such as property details from the land register, purchase price, payment terms, warranties, and specific provisions for ownership transfer. The document is designed to protect both parties' interests while ensuring compliance with Austrian property law, tax regulations, and land registry requirements. It serves as the primary reference point for the transaction and subsequent land registry registration.
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1. Parties: Identification of the seller and buyer with full legal names, addresses, and registration details if applicable
2. Background: Brief context of the transaction and confirmation that the seller is the rightful owner
3. Definitions: Key terms used throughout the agreement
4. Property Description: Detailed description of the real estate including land register details, property address, and cadastral number
5. Purchase Price: Specified purchase price, payment terms, and payment schedule
6. Transfer of Ownership: Terms and conditions for the transfer of property ownership and registration in the land register
7. Representations and Warranties: Seller's warranties regarding property condition, encumbrances, and legal status
8. Handover Conditions: Timing and conditions for physical handover of the property
9. Costs and Taxes: Allocation of transaction costs, transfer taxes, and registration fees
10. Notice and Registration Consent: Consent for land register registration and required notices
11. Governing Law: Confirmation of Austrian law governance and jurisdiction
12. Execution: Signature requirements and notarization provisions
1. Condition Precedents: Used when the transaction depends on specific conditions being met, such as mortgage approval or building permits
2. Existing Tenancies: Required when the property has existing tenants and their rights need to be addressed
3. Property Management: Included when addressing interim period management between contract signing and completion
4. Fixtures and Fittings: Detailed when specific items are included/excluded from the sale
5. Environmental Provisions: Required when there are known environmental issues or concerns
6. Development Rights: Included when there are specific building or development rights to be transferred
7. Mortgage Arrangements: Required when existing mortgages need to be cleared or new financing arrangements are relevant
1. Property Plan: Official land register extract and property plans
2. Inventory List: Detailed list of included fixtures, fittings, and furniture if applicable
3. Existing Encumbrances: List of any existing easements, rights of way, or other encumbrances
4. Due Diligence Documents: Relevant property certificates, permits, and inspection reports
5. Energy Performance Certificate: Mandatory energy efficiency documentation
6. Payment Schedule: Detailed breakdown of payment installments if applicable
Authors
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Construction
Banking and Finance
Legal Services
Property Development
Property Management
Urban Planning
Agriculture (for land purchases)
Retail (for commercial properties)
Hospitality
Industrial and Manufacturing
Relevant Teams
Legal
Real Estate
Property Management
Facilities Management
Business Development
Compliance
Finance
Operations
Asset Management
Investment
Risk Management
Corporate Services
Relevant Roles
Real Estate Lawyer
Property Manager
Real Estate Agent
Real Estate Developer
Legal Counsel
Notary
Property Investment Manager
Asset Manager
Facilities Manager
Commercial Director
Business Development Manager
Property Surveyor
Real Estate Portfolio Manager
Compliance Officer
Real Estate Transaction Manager
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