Real Estate Buy And Sell Agreement Template for Austria

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Key Requirements PROMPT example:

Real Estate Buy And Sell Agreement

"I need a Real Estate Buy And Sell Agreement under Austrian law for the purchase of a commercial office building in Vienna, with specific provisions for existing tenants and a phased completion schedule planned for March 2025."

Document background
The Real Estate Buy And Sell Agreement is a crucial legal document used in Austrian property transactions to formalize the transfer of real estate ownership. It is essential for both residential and commercial property transactions in Austria, requiring compliance with the Austrian Civil Code (ABGB), Land Register Act, and Real Estate Transfer Tax Act. This document is used when a definitive agreement has been reached between parties for the sale of property, following any preliminary contracts or negotiations. It must include specific provisions required by Austrian law, such as clear property identification, precise purchase price terms, and land register registration requirements. The agreement serves as the basis for the property transfer registration in the Austrian Land Register and typically requires notarization for legal validity.
Suggested Sections

1. Parties: Identification and details of the seller and purchaser, including full legal names, addresses, and registration numbers for legal entities

2. Background: Context of the transaction and brief description of the parties' intentions

3. Definitions: Definitions of key terms used throughout the agreement

4. Property Description: Detailed description of the real estate property including address, land register details, property size, and cadastral number

5. Purchase Price: Agreed purchase price, payment terms, and payment schedule

6. Payment Mechanics: Details of how and when payments will be made, including escrow arrangements if applicable

7. Conditions Precedent: Conditions that must be fulfilled before the transaction can complete

8. Seller's Warranties: Warranties regarding property ownership, condition, and absence of encumbrances

9. Property Handover: Terms and process for transferring possession of the property

10. Land Register Registration: Process and requirements for registering the transfer in the land register

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

12. Notices: How formal communications between parties should be made

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

14. Signature: Execution blocks for all parties and any required witnesses

Optional Sections

1. Mortgage Release: Required if the property has existing mortgages that need to be discharged

2. Foreign Investment Approval: Required if the purchaser is a foreign investor requiring regulatory approval

3. Agent Commission: Include when real estate agents are involved in the transaction

4. Property Management: Required if there are ongoing property management arrangements to be transferred

5. Tenant Provisions: Include if the property is sold with existing tenants

6. VAT Elections: Required if the transaction is subject to VAT and specific elections are made

7. Environmental Provisions: Include if there are known environmental issues or specific requirements

8. Development Rights: Include if there are existing or pending development permits or rights

9. Parking Rights: Required if separate parking rights or garage spaces are included in the sale

Suggested Schedules

1. Property Details: Detailed technical description of the property, including floor plans and land register extract

2. Fixtures and Fittings: Inventory of items included in or excluded from the sale

3. Title Documents: Copies of relevant title documents and land register extracts

4. Existing Tenancies: Details of any existing lease agreements and tenant information

5. Property Certificates: Energy performance certificate and other required property certificates

6. Building Permits: Copies of relevant building permits and certificates

7. Encumbrances: Details of any existing easements, rights of way, or other encumbrances

8. Due Diligence Results: Summary of technical and legal due diligence findings

9. Payment Schedule: Detailed breakdown of payment installments and timing

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

Relevant legal definitions
Clauses
Relevant Industries

Real Estate

Construction

Banking and Finance

Legal Services

Property Development

Property Management

Investment and Asset Management

Residential Property

Commercial Property

Urban Development

Architecture and Design

Relevant Teams

Legal

Real Estate

Compliance

Property Management

Asset Management

Investment

Due Diligence

Contract Administration

Risk Management

Corporate Services

Facilities Management

Relevant Roles

Real Estate Lawyer

Property Manager

Real Estate Agent

Legal Counsel

Compliance Officer

Property Developer

Investment Manager

Asset Manager

Real Estate Analyst

Transaction Manager

Due Diligence Specialist

Contract Manager

Chief Legal Officer

Real Estate Portfolio Manager

Property Acquisition Manager

Industries
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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