The Commercial Real Estate Contract serves as the primary legal instrument for transferring commercial property ownership in Austria. This document is essential when businesses or individuals are engaging in the purchase or sale of commercial properties such as office buildings, retail spaces, industrial facilities, or mixed-use developments. The contract must comply with Austrian legal requirements, including the ABGB (Austrian Civil Code), MRG (Austrian Tenancy Act), and GBG (Land Register Act). It includes comprehensive details about the property, parties involved, purchase price, payment terms, warranties, and specific commercial property considerations. The document is particularly important as it needs to address complex aspects of commercial property transactions, including existing lease agreements, property management arrangements, and commercial usage rights, while ensuring proper registration in the Austrian land register (Grundbuch).
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1. Parties: Identification and details of the seller and purchaser, including full legal names, registration numbers, and addresses
2. Background: Context of the transaction and brief description of the property and purpose of the agreement
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Description: Detailed description of the property including land register details (Grundbuch), property boundaries, and building specifications
5. Purchase Price: Specified purchase price, payment terms, and payment schedule
6. Payment Terms: Details of how and when payments are to be made, including escrow arrangements if applicable
7. Due Diligence: Buyer's right to inspect and verify property condition, documents, and legal status
8. Representations and Warranties: Seller's declarations regarding property condition, title, encumbrances, and compliance with laws
9. Transfer of Ownership: Process and conditions for transferring property title, including land register registration requirements
10. Taxes and Costs: Allocation of transaction costs, taxes, and fees between parties
11. Closing Conditions: Prerequisites for completion of the transaction
12. Risk Transfer: Point at which risk and liability transfers from seller to buyer
13. Notices: Communication procedures between parties
14. Governing Law: Confirmation of Austrian law application and jurisdiction
15. Dispute Resolution: Procedures for handling disputes
1. Tenant Rights: Required when the property is sold with existing tenants, detailing their rights and existing lease agreements
2. Environmental Provisions: Needed when there are environmental concerns or requirements related to the property
3. Development Rights: Include when the property has unused development potential or pending permissions
4. Financing Conditions: Required when the purchase is subject to buyer obtaining financing
5. Property Management: Include when transitional property management arrangements are needed
6. Construction Completion: Required for properties under construction or requiring completion works
7. Usage Restrictions: Include when there are specific limitations on property use or zoning requirements
8. Service Contracts: Required when existing service contracts are to be transferred to the buyer
1. Property Plans: Detailed plans, drawings, and site maps of the property
2. Land Register Extract: Current Grundbuchauszug showing ownership and encumbrances
3. Building Permits: Copies of all relevant building permits and certificates
4. Technical Due Diligence Report: Report on property condition and technical specifications
5. Existing Leases: Details of current lease agreements and tenant information
6. Service Contracts: List and copies of ongoing service contracts
7. Insurance Certificates: Current property insurance documentation
8. Environmental Reports: Environmental assessments and certificates
9. Energy Performance Certificate: Legally required energy efficiency documentation
10. Property Tax Assessment: Current property tax evaluation and payment status
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Commercial Property
Retail
Banking & Finance
Insurance
Legal Services
Construction
Property Development
Hospitality
Manufacturing
Logistics & Warehousing
Professional Services
Healthcare
Education
Relevant Teams
Legal
Real Estate
Finance
Corporate Development
Risk & Compliance
Facilities Management
Asset Management
Investment
Property Management
Business Development
Operations
Corporate Services
Relevant Roles
Real Estate Lawyer
Commercial Property Manager
Real Estate Director
Chief Financial Officer
Legal Counsel
Property Development Manager
Facilities Manager
Asset Manager
Investment Manager
Real Estate Broker
Commercial Director
Risk Manager
Business Development Manager
Property Acquisition Manager
Corporate Counsel
Real Estate Investment Analyst
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