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Real Estate Contract To Sell

Real Estate Contract To Sell Template for Austria

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Key Requirements PROMPT example:

Real Estate Contract To Sell

"I need an Austrian Real Estate Contract To Sell for a commercial property in Vienna's business district, with completion scheduled for March 2025, including specific provisions for existing tenant agreements and environmental compliance requirements."

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Document background
The Real Estate Contract To Sell is a fundamental document in Austrian property transactions, essential for legally transferring real estate ownership between parties. It serves as the primary instrument for documenting the terms and conditions of property sales, whether residential, commercial, or industrial. The contract must comply with Austrian legal requirements, including the ABGB (Austrian Civil Code) and GBG (Land Register Act), and requires notarization for validity. This document is used whenever real property is being transferred in Austria, containing crucial elements such as precise property identification, purchase price arrangements, warranties, and conditions for ownership transfer. It forms the basis for land register registration and includes provisions for tax compliance, making it a critical document for both private and commercial real estate transactions.
Suggested Sections

1. Parties: Identification of seller and buyer with full legal names, addresses, and registration numbers if applicable

2. Background: Context of the sale and brief description of the property

3. Definitions: Key terms used throughout the agreement

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

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

6. Transfer of Ownership: Terms and conditions for the transfer of title and registration in the land register

7. Representations and Warranties: Seller's warranties about property condition, encumbrances, and legal status

8. Handover: Conditions and timing for physical handover of the property

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

10. Governing Law: Confirmation of Austrian law application and jurisdiction

11. Execution: Signature requirements and notarization provisions

Optional Sections

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

2. Tenant Provisions: Include if the property is currently leased to tenants

3. Development Conditions: Include for properties under construction or requiring development

4. Environmental Provisions: Required if there are environmental issues or contamination concerns

5. Utilities and Connections: Include for properties with specific utility arrangements or requirements

6. Condominium Provisions: Required for properties subject to the Condominium Act (WEG)

7. Agent Provisions: Include if real estate agents are involved in the transaction

8. Condition Precedents: Include if the sale is subject to specific conditions being met

Suggested Schedules

1. Property Plan: Official cadastral plan and property boundaries

2. Land Register Extract: Current land register extract (Grundbuchauszug)

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

4. Property Handover Protocol: Template for recording the condition at handover

5. Payment Schedule: Detailed breakdown of payment installments if applicable

6. Property Documentation: Energy certificate, building plans, and technical documentation

7. Encumbrance Documentation: Details of any existing easements or encumbrances

8. Due Diligence Reports: Technical, legal, or environmental assessment reports

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 legal definitions
Agreement
Property
Land Register
Purchase Price
Completion Date
Handover Date
Grundbuch
Closing
Encumbrances
Transfer of Title
Business Day
Effective Date
Due Diligence Period
Easements
Property Documentation
Permitted Use
Cadastral Number
Registration Fee
Transfer Tax
Notarial Deed
Building Permits
Energy Certificate
Handover Protocol
Title Documents
Warranties
Material Adverse Change
Completion Conditions
Payment Schedule
Land Register Extract
Deposit
Force Majeure
Utilities
Property Rights
Registration Application
Existing Tenancies
Property Manager
Insurance Coverage
Environmental Conditions
Building Regulations
Development Rights
Clauses
Property Description
Purchase Price
Payment Terms
Title Transfer
Property Registration
Warranties and Representations
Due Diligence
Handover
Encumbrances
Tax Obligations
Insurance
Environmental Compliance
Building Regulations
Utilities and Services
Property Rights
Force Majeure
Dispute Resolution
Notarization Requirements
Land Register Registration
Condition Precedent
Risk Transfer
Costs Allocation
Property Use
Existing Tenancies
Maintenance Obligations
Easements and Rights
Completion Conditions
Default Provisions
Remedies
Severability
Relevant Industries

Real Estate

Construction

Property Development

Banking and Finance

Legal Services

Property Investment

Hospitality

Retail

Industrial

Agriculture

Commercial Property

Relevant Teams

Legal

Real Estate

Compliance

Property Management

Corporate Development

Investment

Asset Management

Risk Management

Operations

Finance

Acquisitions

Relevant Roles

Real Estate Lawyer

Property Manager

Real Estate Agent

Legal Counsel

Property Developer

Investment Manager

Compliance Officer

Real Estate Director

Asset Manager

Notary

Property Surveyor

Transaction Manager

Real Estate Analyst

Corporate Counsel

Development Director

Industries
ABGB (Allgemeines Bürgerliches Gesetzbuch): Austrian Civil Code - particularly §§ 380-446 regarding property ownership and transfer, and §§ 1053-1089 regarding purchase contracts
GBG (Grundbuchsgesetz): Land Register Act - governs the registration of real estate ownership and rights in the land register
NO (Notariatsordnung): Notarial Code - specifies requirements for notarial authentication of real estate contracts
BTVG (Bauträgervertragsgesetz): Developer Contract Act - applies if the property is not yet built or under construction
KSchG (Konsumentenschutzgesetz): Consumer Protection Act - applies when one party is a consumer and the other is a business
GrEStG (Grunderwerbsteuergesetz): Real Estate Transfer Tax Act - governs taxation aspects of property transfers
IMB-VO (Immobilienmaklerverordnung): Real Estate Agent Regulation - relevant if real estate agents are involved in the transaction
WEG (Wohnungseigentumsgesetz): Condominium Act - applies if the property is a condominium or part of a multi-unit building
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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