The Simple Real Estate Purchase Agreement is a fundamental document used in Austrian property transactions to formalize the transfer of real estate between parties. This agreement type is essential for both residential and commercial property transactions in Austria, where specific legal formalities must be observed. The document must comply with Austrian Civil Code requirements and include mandatory provisions regarding property description, purchase price, payment terms, and transfer conditions. It requires notarization and subsequent registration in the land register (Grundbuch) to effect legal transfer of ownership. The agreement is designed to protect both parties' interests while ensuring compliance with Austrian property law, tax regulations, and registration requirements. It's particularly relevant for straightforward property transactions where standard terms and conditions are sufficient to govern the sale.
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1. Parties: Identification of seller and purchaser with full legal names, addresses, and registration details if companies
2. Background: Context of the sale and brief description of the property being transferred
3. Definitions: Key terms used throughout the agreement
4. Property Description: Detailed description of the real estate including land register details (Grundbuch), property number, size, and exact location
5. Purchase Price: Agreed purchase price, payment terms, and payment schedule
6. Payment Terms: Detailed mechanics of payment, including escrow arrangements if applicable
7. Transfer of Ownership: Conditions and process for transferring title, including land register registration requirements
8. Representations and Warranties: Seller's confirmations regarding property condition, encumbrances, and other material facts
9. Handover: Timing and conditions for physical handover of the property
10. Costs and Taxes: Allocation of transfer taxes, registration fees, and other transaction costs
11. Governing Law: Confirmation of Austrian law as governing law
12. Execution: Signature requirements including notarization provisions
1. Mortgage Release: Required if the property has existing mortgages that need to be discharged
2. Tenant Provisions: Required if the property is sold with existing tenants
3. Condition Precedents: Include if completion is subject to specific conditions like mortgage approval
4. Property Management: Include if there are interim management arrangements between signing and completion
5. Environmental Provisions: Required if there are known environmental issues or specific warranties needed
6. Development Rights: Include if there are specific building or development rights being transferred
7. Furniture and Fittings: Required if the sale includes specified movable items
8. Dispute Resolution: Optional alternative dispute resolution procedures
1. Property Plan: Official cadastral plan showing the property boundaries
2. Land Register Extract: Current extract from the land register (Grundbuchauszug)
3. Inventory List: List of included furniture and fittings if applicable
4. Building Permits: Copies of relevant building permits and certificates
5. Energy Certificate: Mandatory energy performance certificate (Energieausweis)
6. Property Photographs: Documentary photographs of the property condition
7. Payment Schedule: Detailed schedule of payment installments if applicable
8. Existing Tenancy Agreements: Copies of current tenant agreements if property is let
Relevant legal definitions
Agreement
Property
Land Register (Grundbuch)
Completion Date
Completion
Purchase Price
Deposit
Transfer Date
Handover Date
Encumbrances
Land Registry Fee
Transfer Tax
Notarial Deed
Business Day
Parties
Seller
Purchaser
Title Deed
Cadastral Number
Property Register Number
Registration Requirements
Permitted Use
Building Permits
Energy Certificate
Fixtures and Fittings
Material Adverse Change
Signing Date
Transfer of Ownership
Due Diligence Period
Notary Public
Warranties
Force Majeure
Effective Date
Payment Schedule
Escrow Agent
Registration Documents
Title Insurance
Property Charges
Property
Land Register (Grundbuch)
Completion Date
Completion
Purchase Price
Deposit
Transfer Date
Handover Date
Encumbrances
Land Registry Fee
Transfer Tax
Notarial Deed
Business Day
Parties
Seller
Purchaser
Title Deed
Cadastral Number
Property Register Number
Registration Requirements
Permitted Use
Building Permits
Energy Certificate
Fixtures and Fittings
Material Adverse Change
Signing Date
Transfer of Ownership
Due Diligence Period
Notary Public
Warranties
Force Majeure
Effective Date
Payment Schedule
Escrow Agent
Registration Documents
Title Insurance
Property Charges
Clauses
Parties Identification
Property Description
Purchase Price
Payment Terms
Transfer of Ownership
Property Registration
Warranties and Representations
Property Condition
Due Diligence
Title Transfer
Encumbrances
Handover Provisions
Costs and Taxes
Insurance
Environmental Matters
Seller Obligations
Buyer Obligations
Risk Transfer
Default Provisions
Force Majeure
Notarization Requirements
Registration Requirements
Condition Precedent
Completion Requirements
Notice Provisions
Amendment
Severability
Entire Agreement
Governing Law
Dispute Resolution
Termination Rights
Assignment
Further Assurance
Indemnification
Survival
Property Description
Purchase Price
Payment Terms
Transfer of Ownership
Property Registration
Warranties and Representations
Property Condition
Due Diligence
Title Transfer
Encumbrances
Handover Provisions
Costs and Taxes
Insurance
Environmental Matters
Seller Obligations
Buyer Obligations
Risk Transfer
Default Provisions
Force Majeure
Notarization Requirements
Registration Requirements
Condition Precedent
Completion Requirements
Notice Provisions
Amendment
Severability
Entire Agreement
Governing Law
Dispute Resolution
Termination Rights
Assignment
Further Assurance
Indemnification
Survival
Relevant Industries
Real Estate
Property Development
Construction
Banking and Finance
Legal Services
Property Management
Investment
Urban Planning
Residential Housing
Commercial Property
Relevant Teams
Legal
Real Estate
Compliance
Property Management
Investment
Business Development
Asset Management
Risk Management
Finance
Tax
Relevant Roles
Real Estate Lawyer
Property Manager
Real Estate Agent
Legal Counsel
Notary Public
Property Developer
Investment Manager
Real Estate Investment Analyst
Compliance Officer
Tax Advisor
Property Valuation Specialist
Real Estate Transaction Manager
Business Development Manager
Asset Manager
Property Portfolio Manager
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