The Real Estate Contract template is designed for use in Austrian property transactions, whether residential or commercial. It serves as a legally binding agreement between parties for the sale and purchase of real estate within Austria's jurisdiction. The document incorporates all mandatory elements required by Austrian law, including the ABGB (Austrian Civil Code), Grundbuchsgesetz (Land Register Act), and relevant property legislation. This contract template is essential for documenting property transfers, ensuring proper registration in the land register, and establishing clear terms for payment, property handover, and warranties. It includes provisions for notarization, which is a mandatory requirement for real estate transactions in Austria, and addresses tax implications and registration procedures. The template is adaptable for various property types and can be customized to include specific conditions while maintaining compliance with Austrian legal requirements.
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1. Parties: Detailed identification of the seller and buyer, including full legal names, addresses, and registration numbers for legal entities
2. Background: Context of the transaction and brief description of the property being transferred
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Description: Detailed description of the real estate including land register details (Grundbuch), property address, cadastral number, and size
5. Purchase Price: Specification of the 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 and timing for the physical handover of the property
9. Taxes and Costs: Allocation of transaction costs, taxes, and fees between parties
10. Registration Authorization: Authorization for land register registration (Aufsandungserklärung)
11. Governing Law: Confirmation of Austrian law application and jurisdiction
12. Execution: Signature requirements and notarization provisions
1. Mortgage Provisions: Include when there is existing mortgage to be discharged or new mortgage to be registered
2. Tenant Provisions: Include when the property is subject to existing tenancy agreements
3. Development Conditions: Include for properties under construction or requiring development
4. Environmental Provisions: Include when there are environmental considerations or contamination issues
5. Furniture and Fixtures: Include when the sale includes specific movable property
6. Pre-emption Rights: Include when there are existing pre-emption rights or similar restrictions
7. Condition Precedents: Include when completion is subject to specific conditions
8. Escrow Arrangements: Include when purchase price is to be held in escrow
1. Land Register Extract: Current extract from the land register (Grundbuchauszug)
2. Property Plans: Cadastral plans and building plans
3. Energy Certificate: Mandatory energy performance certificate (Energieausweis)
4. Property Photographs: Current photographs documenting the property's condition
5. Inventory List: List of included furniture and fixtures, if applicable
6. Building Permits: Copies of relevant building permits and certificates
7. Property Tax Records: Recent property tax assessments and payment records
8. Technical Due Diligence: Technical inspection reports and building condition assessments
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