Document background
The Contract To Sell Property is a fundamental legal document used in Austrian real estate transactions to formalize the transfer of property ownership. This document is essential when any party (individual or corporate) wishes to sell real estate in Austria, whether it's residential, commercial, or industrial property. The contract must comply with the Austrian Civil Code (ABGB) and related property laws, incorporating specific requirements for property registration in the land register (Grundbuch). It typically includes comprehensive details about the property, parties involved, purchase price, payment terms, warranties, and transfer conditions. The document is particularly important as it serves as the basis for the official property transfer registration and triggers various legal obligations, including tax responsibilities and registration requirements.
