The Lease with Option to Buy agreement is a sophisticated legal instrument used in Austrian real estate transactions where parties wish to combine a lease arrangement with a future purchase possibility. This document is particularly useful when a potential buyer wants to occupy and evaluate a property before committing to purchase, or when they need time to arrange financing. The agreement must comply with Austrian legal requirements, including the ABGB (Austrian Civil Code), MRG (Tenancy Act), and property registration laws. It typically includes comprehensive lease terms, detailed purchase option conditions, property maintenance responsibilities, and specific Austrian legal protections for both parties. This document type is commonly used in both residential and commercial contexts, requiring careful consideration of tax implications, property registration requirements, and tenant protection laws specific to Austria.
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1. Parties: Identification and details of the lessor/potential seller and lessee/potential buyer
2. Background: Context of the agreement and brief description of the property
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Description: Detailed description of the property including address, land register details, and any included fixtures/fittings
5. Lease Terms: Core lease provisions including duration, rent amount, payment terms, and maintenance obligations
6. Option to Purchase: Terms of the purchase option including purchase price, exercise period, and execution process
7. Security Deposit: Details of the required security deposit and conditions for its return
8. Maintenance and Repairs: Responsibilities for property maintenance, repairs, and improvements
9. Insurance: Required insurance coverage for both parties
10. Utilities and Operating Costs: Allocation of utility costs and other operating expenses
11. Option Exercise Procedure: Detailed process for exercising the purchase option
12. Default and Remedies: Consequences of default under either the lease or option provisions
13. Governing Law: Confirmation of Austrian law application and jurisdiction
14. Notices: Process for formal communications between parties
15. Signatures: Execution block for all parties
1. Property Management: Required when a property management company is involved in administering the lease
2. Subletting: Include when subletting is to be permitted under specific conditions
3. Environmental Provisions: Required for properties with specific environmental considerations or requirements
4. Historic Preservation: Include for properties subject to historic preservation requirements
5. Condominium Association Rules: Required if the property is part of a condominium complex
6. Commercial Use Provisions: Include for properties permitted for business use
7. Rent Adjustment Mechanism: Optional mechanism for periodic rent adjustments
8. Purchase Price Credit: Include if portion of rent payments will be credited toward purchase price
1. Property Floor Plan: Detailed floor plan and measurements of the property
2. Inventory List: Detailed list of fixtures, fittings, and furniture included in the lease/sale
3. Condition Report: Initial condition report with photographs of the property
4. Land Register Extract: Current extract from the land register (Grundbuchauszug)
5. Building Inspection Report: Technical assessment of the property's condition
6. Energy Performance Certificate: Mandatory energy efficiency rating document
7. Payment Schedule: Detailed schedule of rent payments and purchase option calculations
8. Property Rules: House rules or property usage guidelines
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Property Development
Commercial Property
Residential Property
Legal Services
Banking and Finance
Insurance
Property Management
Construction
Retail
Hospitality
Industrial
Relevant Teams
Legal
Real Estate
Property Management
Operations
Finance
Compliance
Risk Management
Business Development
Asset Management
Facilities Management
Relevant Roles
Real Estate Manager
Property Developer
Legal Counsel
Contract Manager
Property Manager
Commercial Director
Facilities Manager
Real Estate Agent
Business Development Manager
Asset Manager
Investment Manager
Legal Operations Manager
Finance Director
Operations Director
Risk Manager
Compliance Officer
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