Lifetime Lease Agreement Template for Austria

The Lifetime Lease Agreement (Leibrente) is a specialized legal instrument used in Austrian property law when parties wish to establish a lease arrangement that continues for the duration of the lessee's life. This document is particularly relevant in cases involving elderly individuals seeking long-term housing security or in family arrangements where property rights are transferred while maintaining occupancy. The agreement must comply with the Austrian Civil Code (ABGB), particularly sections 1284-1286, and related property laws. It typically includes detailed provisions about property rights, maintenance obligations, payment terms, and succession arrangements. The document requires careful drafting to ensure it meets all legal requirements and provides adequate protection for both parties, especially considering its long-term nature and potential implications for inheritance.

1. Parties: Identification of the lessor and lessee, including full legal names, addresses, and any relevant registration numbers

2. Background: Context of the agreement, including property details and the parties' intention to enter into a lifetime lease arrangement

3. Definitions: Key terms used throughout the agreement, including technical and legal terminology

4. Property Description: Detailed description of the leased property, including address, land register details, and any included fixtures or fittings

5. Term and Duration: Specification that the lease is for the lifetime of the designated party, and conditions regarding termination

6. Rent and Payment Terms: Details of rent payment, including amount, payment schedule, and any adjustment mechanisms

7. Maintenance and Repairs: Responsibilities for property maintenance, repairs, and improvements

8. Use of Property: Permitted uses of the property and any restrictions

9. Insurance Requirements: Obligations regarding property insurance and liability coverage

10. Utilities and Operating Costs: Responsibility for utility payments and other operating costs

11. Death and Succession: Provisions regarding what happens upon the death of either party

12. Registration: Requirements and procedures for registering the agreement in the land register

13. Governing Law: Confirmation of Austrian law as governing law and jurisdiction

14. Execution: Signature blocks and execution requirements