������Ƶ

The Land Purchase Option Agreement is a crucial legal instrument in Austrian real estate transactions, providing a structured framework for securing future property acquisition rights. This document is typically used when a potential buyer needs time to conduct due diligence, arrange financing, or obtain necessary permits before committing to a purchase, while ensuring the property owner cannot sell to another party during the option period. Under Austrian law, the agreement must meet specific formal requirements, including notarization and compliance with local land transaction regulations. The document includes detailed property descriptions, option exercise mechanisms, purchase terms, and conditions that will govern the eventual sale if the option is exercised. It's particularly valuable in commercial real estate development, strategic land acquisition, and complex property transactions where immediate purchase may not be feasible or desirable.

1. Parties: Identification of the option grantor (property owner) and option holder, including full legal names, addresses, and registration details for legal entities

2. Background: Context of the agreement, including brief property description and parties' intention to enter into an option arrangement

3. Definitions: Definitions of key terms used throughout the agreement, including Property, Option Period, Purchase Price, and Completion Date

4. Grant of Option: Clear statement of the option grant, specifying the exclusive right to purchase the property under stated conditions

5. Option Period: Duration of the option, including start and end dates, and any extension mechanisms

6. Option Fee: Amount, payment terms, and whether the fee is refundable or applied to the purchase price

7. Exercise of Option: Process and formalities for exercising the option, including notice requirements and timing

8. Purchase Price: Agreed purchase price for the property if the option is exercised, including any adjustment mechanisms

9. Property Details: Detailed description of the property, including land registry details and encumbrances

10. Conditions of Sale: Terms that will apply to the sale if the option is exercised, including warranties and representations

11. Completion: Process and requirements for completing the sale after option exercise

12. Termination: Circumstances under which the agreement can be terminated and consequences

13. Governing Law: Confirmation of Austrian law as governing law and jurisdiction

14. Execution: Formal execution block meeting Austrian notarial requirements