The Agreement For Sale Of Property is a crucial legal document used in Austrian real estate transactions to formalize property transfers between parties. It serves as the primary contract governing the sale and purchase of real estate in Austria, whether for residential, commercial, or industrial properties. The document must comply with Austrian legal requirements, particularly the ABGB (Austrian Civil Code) and Land Register Act, and typically requires notarization for land registry purposes. It includes essential elements such as precise property identification, purchase price, payment terms, warranties, and specific provisions for property transfer taxes and registration fees. This agreement is fundamental for ensuring legal certainty in property transactions and protecting both parties' interests under Austrian law.
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1. Parties: Identification of the seller and purchaser with full legal names, addresses, and registration details if applicable
2. Background: Context of the sale and brief description of the property being transferred
3. Definitions: Key terms used throughout the agreement, including Property, Completion Date, Purchase Price, etc.
4. Property Description: Detailed description of the property including land register details (Grundbuch), property address, and cadastral number
5. Purchase Price: Amount, currency, payment terms, and deposit requirements
6. Payment Terms: Schedule of payments, method of payment, and escrow arrangements if applicable
7. Conditions Precedent: Conditions that must be satisfied before completion, including obtaining necessary permits and clearances
8. Completion: Process and requirements for transferring ownership, including land register registration requirements
9. Seller's Warranties: Warranties regarding ownership, absence of encumbrances, building permits, and property condition
10. Transfer of Risk and Benefits: When risk and benefits of the property transfer to the purchaser
11. Costs and Taxes: Allocation of transfer taxes, registration fees, and other transaction costs
12. Governing Law and Jurisdiction: Confirmation of Austrian law application and jurisdiction for disputes
13. Execution: Signature blocks and notarization requirements
1. Existing Tenancies: Details of any existing rental agreements that will transfer with the property
2. Mortgage Release: Provisions for releasing existing mortgages, used when property has existing financing
3. Foreign Investment Approval: Required when purchaser is a foreign investor subject to Austrian foreign investment restrictions
4. Environmental Provisions: Specific provisions regarding environmental conditions or contamination, used for industrial properties
5. Development Conditions: Used when property has pending or required development obligations
6. Agent's Commission: Details of real estate agent's commission if an agent is involved
7. Furniture and Fittings: List of movable items included/excluded from sale, used for furnished properties
8. Agricultural Land Provisions: Special provisions required for agricultural land under Austrian law
1. Property Plan: Official cadastral plan and property boundaries
2. Land Register Extract: Current extract from the land register (Grundbuchauszug)
3. Property Certificates: Building permits, energy certificate, and other relevant certificates
4. Inventory List: Detailed list of included furniture and fittings if applicable
5. Existing Tenancy Agreements: Copies of current rental agreements if applicable
6. Property Inspection Report: Technical assessment of property condition
7. Payment Schedule: Detailed schedule of payment installments and timing
8. Property Photos: Documentary photographs of property condition at time of sale
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