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Real Estate Exchange Agreement

Real Estate Exchange Agreement Template for Austria

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Key Requirements PROMPT example:

Real Estate Exchange Agreement

"I need a Real Estate Exchange Agreement under Austrian law for exchanging my commercial warehouse in Vienna with a retail property in Salzburg, with an additional cash payment to account for value differences, targeting completion by March 2025."

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Document background
The Real Estate Exchange Agreement is a specialized contract used in Austria when two or more parties wish to exchange ownership of real estate properties rather than conduct a traditional sale and purchase. This document is particularly relevant when parties find mutual benefit in exchanging properties rather than engaging in separate sale transactions. The agreement must comply with Austrian legal requirements, including mandatory notarization and land registry regulations. It contains comprehensive details about both properties, including their legal descriptions, cadastral numbers, and current encumbrances. The document addresses taxation aspects, transfer procedures, and any necessary monetary compensation if the properties have different values. It's designed to ensure a smooth transfer of ownership while complying with all relevant Austrian property laws and regulations.
Suggested Sections

1. Parties: Identification and details of all parties involved in the exchange, including full legal names, addresses, and registration numbers for legal entities

2. Background: Context of the exchange and brief description of the properties being exchanged

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

4. Property Descriptions: Detailed legal descriptions of both properties, including land registry data (Grundbuch details), property addresses, and cadastral numbers

5. Exchange Terms: Core terms of the exchange, including any monetary compensation if properties are of unequal value

6. Representations and Warranties: Declarations by both parties regarding ownership, encumbrances, and condition of their respective properties

7. Handover and Transfer: Terms and timing of property possession transfer and registration in the land register

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

9. Due Diligence: Confirmation of property inspections and review of relevant documents

10. Registration Consent: Explicit consent for land registry registration (Aufsandungserklärung)

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

12. Execution: Signature requirements and notarization provisions

Optional Sections

1. Monetary Compensation: Required when properties have different values and additional payment is needed

2. Tenant Provisions: Required when either property has existing tenants, addressing lease transfers and tenant rights

3. Mortgage Arrangements: Required when either property has existing mortgages that need to be addressed

4. Construction Obligations: Required when either property is under construction or requires specific development

5. Environmental Provisions: Required when environmental issues or contamination are present

6. Agricultural Land Provisions: Required when agricultural land is involved, addressing specific regulations

7. Monument Protection: Required when either property is under historical monument protection

8. Third Party Rights: Required when addressing existing easements, rights of way, or other third-party rights

Suggested Schedules

1. Property Plans: Official cadastral plans and property boundaries

2. Land Register Extracts: Current land register extracts (Grundbuchauszug) for both properties

3. Property Photographs: Current photographs documenting the condition of both properties

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

5. Energy Certificates: Energy performance certificates (Energieausweis) for both properties

6. Existing Leases: Copies of any existing lease agreements

7. Property Valuation Reports: Independent valuation reports for both properties

8. Technical Due Diligence: Reports on building condition, installations, and technical systems

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 A
Property B
Completion Date
Exchange Date
Effective Date
Grundbuch
Grundbuchauszug
Aufsandungserklärung
Encumbrances
Monetary Compensation
Transfer Date
Business Day
Permitted Use
Material Adverse Change
Property Rights
Due Diligence Period
Existing Leases
Handover Protocol
Land Register
Property Documents
Registration Fee
Transfer Tax
Valuation Date
Party A
Party B
Easements
Building Permits
Energy Certificate
Technical Documentation
Cadastral Number
Property Boundaries
Fixtures and Fittings
Notarial Deed
Representations and Warranties
Registration Requirements
Associated Rights
Existing Tenants
Building Regulations
Zoning Requirements
Clauses
Parties and Properties
Definitions
Exchange Terms
Property Description
Title Warranty
Property Condition
Due Diligence
Registration Requirements
Purchase Price Adjustment
Property Transfer
Handover Provisions
Representations and Warranties
Land Registry Consent
Tax Obligations
Cost Allocation
Risk Transfer
Insurance
Existing Tenancies
Encumbrances
Environmental Matters
Building Regulations
Utilities and Services
Default and Remedies
Force Majeure
Assignment
Notices
Governing Law
Dispute Resolution
Confidentiality
Entire Agreement
Severability
Amendment
Third Party Rights
Counterparts
Notarization Requirements
Relevant Industries

Real Estate

Property Development

Construction

Legal Services

Financial Services

Agriculture

Hospitality

Retail

Industrial

Commercial Property

Residential Property

Public Sector

Relevant Teams

Legal

Real Estate

Property Management

Asset Management

Facilities Management

Corporate Development

Investment

Tax

Finance

Compliance

Risk Management

Relevant Roles

Real Estate Manager

Property Developer

Legal Counsel

Corporate Lawyer

Real Estate Agent

Property Manager

Asset Manager

Investment Manager

Facilities Manager

Construction Manager

Development Director

Chief Legal Officer

Real Estate Partner

Notary Public

Tax Advisor

Property Valuer

Land Registry Officer

Industries
ABGB (Allgemeines Bürgerliches Gesetzbuch): Austrian Civil Code - Particularly §§ 1045-1052 regarding exchange contracts (Tauschvertrag) and §§ 431-446 regarding property transfer and ownership
GBG (Grundbuchsgesetz): Land Register Act - Regulates the registration of real estate ownership and rights in the land register
GrEStG (Grunderwerbsteuergesetz): Real Estate Transfer Tax Act - Governs the taxation aspects of real estate transfers, including exchanges
NotAktG (Notariatsaktsgesetz): Notarial Act - Requires certain real estate transactions to be conducted through notarial deeds
ImmoESt (Immobilienertragsteuergesetz): Real Estate Profit Tax Law - Regulates taxation of profits from real estate transactions
WEG (Wohnungseigentumsgesetz): Condominium Act - Relevant if the exchanged properties include condominiums or apartments
MRG (Mietrechtsgesetz): Tenancy Law - Must be considered if any of the properties are currently rented or have existing tenants
BTVG (Bauträgervertragsgesetz): Developer Contract Act - Applicable if any of the exchanged properties are newly constructed or under construction
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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