The Simple Vacant Land Purchase Agreement is a fundamental legal document used in Austrian real estate transactions for the purchase and sale of undeveloped land. This agreement is essential when parties wish to transfer ownership of vacant land in Austria, whether for development, investment, or other purposes. The document must comply with Austrian legal requirements, including the ABGB (Austrian Civil Code) and GBG (Land Register Act), and typically requires notarization. It includes crucial elements such as property identification, purchase price, payment terms, and transfer conditions, while considering Austrian-specific requirements for property registration and transfer taxes. The agreement can be used for various types of vacant land transactions, from small residential plots to larger commercial or agricultural properties, and must account for local zoning regulations and land use restrictions.
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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 acknowledgment of the parties' intention to enter into the agreement
3. Definitions: Key terms used throughout the agreement, including 'Property', 'Completion Date', and other relevant terminology
4. Property Description: Detailed description of the vacant land including cadastral number, land register details, size, and location
5. Purchase Price: Agreed purchase price, payment terms, and method of payment
6. Payment Terms: Schedule of payments, including deposits and final payment arrangements
7. Transfer of Ownership: Conditions and process for transferring title, including registration in the land register (Grundbuch)
8. Representations and Warranties: Seller's declarations regarding property ownership, encumbrances, and condition
9. Due Diligence: Buyer's right to investigate the property and related documentation
10. Costs and Taxes: Allocation of transaction costs, transfer taxes, and registration fees
11. Completion: Process and requirements for completing the transaction
12. Governing Law: Confirmation of Austrian law as governing law and jurisdiction
13. Execution: Signature requirements and notarization provisions
1. Environmental Conditions: Include when there are specific environmental considerations or known contamination issues
2. Planning and Zoning: Include when specific building or development plans are relevant to the transaction
3. Foreign Buyer Provisions: Include when the buyer is not an Austrian resident or entity
4. Agricultural Land Provisions: Include when the land is classified as agricultural and subject to special regulations
5. Broker Provisions: Include when real estate agents are involved in the transaction
6. Condition Precedents: Include when the sale is subject to specific conditions being met before completion
7. Easements and Rights of Way: Include when there are existing or required easements affecting the property
1. Property Plan: Cadastral map and property boundaries
2. Land Register Extract: Current extract from the Grundbuch showing ownership and encumbrances
3. Payment Schedule: Detailed breakdown of payment installments and timing if applicable
4. Due Diligence Documents: List of documents provided for buyer's due diligence
5. Zoning Certificate: Current zoning status and permitted uses of the property
6. Environmental Reports: Any existing environmental assessments or reports
7. Power of Attorney: If any party is acting through an attorney or representative
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