Document background
The Deed of Purchase (Kaufvertrag) is a fundamental legal document in Austrian property transactions, used whenever real estate ownership is transferred between parties. It serves as the primary evidence of the property sale and forms the basis for land registry registration. This document type is governed by Austrian law, particularly the ABGB (Austrian Civil Code) and the Grundbuchsgesetz (Land Registry Act), requiring notarization for validity. The deed must include specific mandatory elements such as precise property description, party details, purchase price, and transfer conditions. It's essential for both residential and commercial property transactions and must be drafted with careful attention to Austrian legal requirements to ensure the transfer's validity and enforceability.
