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Deed Of Gift Property

Deed Of Gift Property Template for Austria

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Key Requirements PROMPT example:

Deed Of Gift Property

"I need a Deed of Gift Property to transfer my Vienna apartment to my daughter, with the transfer to be completed by March 2025, but I want to retain a lifetime right of residence in the property."

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Document background
A Deed of Gift Property is utilized when an individual wishes to transfer real property to another person without receiving payment or other consideration in return. This document is particularly common in family wealth transfers, estate planning, and charitable donations in Austria. The deed must comply with Austrian Civil Code (ABGB) requirements and includes crucial elements such as proper party identification, detailed property description, explicit gift declaration, and necessary warranties. It requires notarization and subsequent registration in the Austrian land registry (Grundbuch) to effect the transfer. The document addresses tax implications, although gift tax was abolished in Austria in 2008, and includes provisions for any retained rights or conditions attached to the gift. This type of deed is frequently used in conjunction with broader estate planning strategies and must carefully consider potential implications for inheritance law and family law.
Suggested Sections

1. Parties: Identification and full details of the donor (Geschenkgeber) and the donee (Geschenknehmer), including their full names, addresses, and dates of birth

2. Background: Context of the gift, relationship between parties, and donor's ownership confirmation of the property

3. Definitions: Key terms used in the deed, including proper description of the Property and other relevant terms

4. Property Description: Detailed description of the gifted property, including land registry details, property address, and cadastral number

5. Declaration of Gift: Clear and unequivocal statement of the donor's intention to transfer the property as a gift, without consideration

6. Transfer of Ownership: Explicit terms of the transfer, including the timing and process of registration in the land registry

7. Possession and Risk: Specification of when possession transfers and who bears risk for the property

8. Donor's Warranties: Warranties regarding ownership, absence of encumbrances, and authority to make the gift

9. Costs and Taxes: Allocation of transfer costs, taxes, and registration fees

10. Governing Law: Confirmation that Austrian law governs the deed

Optional Sections

1. Reservation of Rights: Used when the donor wishes to retain certain rights over the property (e.g., right of residence)

2. Conditions: Include when the gift is subject to specific conditions or obligations for the donee

3. Maintenance Obligations: Used when the gift includes obligations for the donee to maintain or care for the donor

4. Revocation Rights: Include specific circumstances under which the gift may be revoked, beyond statutory provisions

5. Succession Provisions: Used when the gift needs to be coordinated with inheritance planning

6. Third Party Rights: Include when there are existing rights (e.g., easements) that need to be preserved

7. Family Law Provisions: Used when the gift needs to address marriage or divorce implications

Suggested Schedules

1. Property Details Schedule: Detailed technical description of the property, including exact measurements, boundaries, and land registry extract

2. Plan Schedule: Official cadastral plans or property maps

3. Encumbrances Schedule: List of any existing encumbrances, easements, or rights that affect the property

4. Inventory Schedule: If applicable, list of movable items included with the property gift

5. Photographs Appendix: Current photographs of the property for record purposes

6. Land Registry Documents: Copies of relevant land registry extracts and documentation

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant Industries

Real Estate

Private Wealth Management

Legal Services

Family Business

Property Development

Banking & Finance

Tax Advisory

Notarial Services

Public Administration

Relevant Teams

Legal

Real Estate

Property Administration

Wealth Management

Tax Advisory

Compliance

Private Client Services

Corporate Services

Registry Administration

Relevant Roles

Legal Counsel

Property Lawyer

Notary Public

Real Estate Manager

Tax Advisor

Estate Planner

Wealth Manager

Property Registration Officer

Compliance Officer

Legal Administrator

Real Estate Administrator

Private Client Advisor

Family Office Manager

Industries
Austrian Civil Code (ABGB) - §§ 938-956: Fundamental provisions governing donations (Schenkungen) in Austrian law, including requirements for validity, revocation conditions, and legal effects
Austrian Civil Code (ABGB) - §§ 380-446: Provisions regarding property rights and transfer of ownership (Eigentumsrecht und dessen Erwerbung)
Austrian Notarial Code (Notariatsordnung): Regulations regarding the formal requirements for notarial deeds, as gifts of real property must be in the form of a notarial deed
Austrian Land Register Act (Grundbuchsgesetz): Rules governing the registration of property transfers in the land register (Grundbuch), which is mandatory for property transfers
Austrian Real Estate Transfer Tax Act (Grunderwerbsteuergesetz): Tax provisions applicable to property transfers, including gifts of real estate
Austrian Federal Fiscal Code (Bundesabgabenordnung): General tax provisions that may affect property gifts, including reporting requirements
Austrian Gift Notification Act (Schenkungsmeldegesetz): Requirements for reporting gifts to tax authorities, even though gift tax was abolished in 2008
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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