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Vacant Land Purchase Contract

Vacant Land Purchase Contract Template for Austria

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Key Requirements PROMPT example:

Vacant Land Purchase Contract

"I need a Vacant Land Purchase Contract for acquiring a 5,000 square meter plot in Vienna's industrial zone for commercial development, with completion scheduled for March 2025; the contract must include specific provisions for environmental assessment and future development rights."

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Document background
The Vacant Land Purchase Contract is a crucial legal document used in Austrian real estate transactions specifically for undeveloped land transfers. It is essential when any party wishes to purchase or sell vacant land in Austria, whether for development, investment, or other purposes. The document must comply with Austrian Civil Code (ABGB) requirements, land registration laws, and local property regulations. It includes detailed provisions for property description, purchase price, payment terms, warranties, and transfer mechanisms. This agreement is particularly important as it must address specific Austrian legal requirements such as mandatory notarization, land register registration (Grundbuch), and real estate transfer tax considerations. It serves as the primary instrument for documenting the terms and conditions of the transaction while ensuring legal compliance and protecting both parties' interests.
Suggested Sections

1. Parties: Identification of the seller and purchaser with full legal names, addresses, and registration details if applicable

2. Background: Context of the transaction and brief description of the vacant land

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

4. Property Description: Detailed description of the vacant land including land register details, parcel numbers, size, and boundaries

5. Purchase Price: Specification of the purchase price, payment terms, and payment method

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

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

8. Closing Conditions: Conditions that must be met before completion of the purchase

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

10. Handover: Terms for the physical handover of the property

11. Notices: Communication requirements and contact details for formal notices

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

13. Execution: Signature blocks and notarization requirements

Optional Sections

1. Broker Provisions: Include when a real estate broker is involved in the transaction

2. Soil Condition: Include when there are known or suspected soil contamination issues

3. Development Obligations: Include when there are specific requirements or restrictions for future development

4. Agricultural Land Provisions: Include when the land is classified as agricultural and subject to special regulations

5. Foreign Buyer Provisions: Include when the purchaser is not an Austrian resident

6. Financing Conditions: Include when the purchase is subject to financing approval

7. Environmental Matters: Include when there are specific environmental considerations or restrictions

8. Rights of Way: Include when there are existing or required easements or rights of way

9. Pre-emption Rights: Include when there are existing pre-emption rights or similar restrictions

Suggested Schedules

1. Land Register Extract: Current extract from the land register showing ownership and encumbrances

2. Site Plan: Official cadastral map or survey plan showing the property boundaries

3. Zoning Certificate: Current zoning status and permitted uses of the land

4. Property Tax Certificate: Certificate showing current property tax status and any outstanding amounts

5. Environmental Reports: Any existing environmental assessments or soil reports

6. Utilities Plan: Plan showing location of existing utilities or connection points

7. Powers of Attorney: If any party is acting through an agent or representative

8. Payment Schedule: If the purchase price is to be paid in installments

9. Due Diligence Results: Summary of key findings from due diligence investigations

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
Business Day
Closing
Closing Date
Completion
Contract Price
Deposit
Due Diligence Period
Effective Date
Encumbrances
Environmental Law
Grundbuch
Grundbuchauszug
Grunderwerbsteuer
Land
Land Register
Local Authority
Notarial Deed
Parties
Permitted Use
Property
Purchase Price
Purchaser
Registration Fee
Seller
Settlement Date
Title Documents
Transfer Date
Transfer Tax
Vacant Possession
Zoning Requirements
Signing Date
Property Register Number
Cadastral Community
Plot Number
Land Registry Office
Ownership Title
Purchase Deed
Real Estate Database
Soil Quality Certificate
Building Regulations
Development Rights
Easements
Public Charges
Clauses
Property Description
Purchase Price
Payment Terms
Title Transfer
Land Registration
Warranties and Representations
Due Diligence
Conditions Precedent
Completion
Tax Obligations
Costs and Expenses
Environmental Matters
Zoning and Planning
Access Rights
Encumbrances
Default
Force Majeure
Assignment
Notices
Governing Law
Dispute Resolution
Entire Agreement
Severability
Amendment
Waiver
Further Assurance
Termination
Indemnification
Broker Provisions
Confidentiality
Soil Condition
Development Rights
Agricultural Provisions
Foreign Investment
Pre-emption Rights
Utilities
Boundary Definition
Survey Rights
Real Estate Transfer Tax
Registration Requirements
Insurance
Relevant Industries

Real Estate

Construction

Agriculture

Commercial Development

Industrial Development

Residential Development

Investment

Infrastructure

Energy

Tourism

Retail

Logistics

Relevant Teams

Legal

Real Estate

Property Development

Acquisitions

Investment

Finance

Compliance

Commercial

Construction

Environmental

Planning

Operations

Relevant Roles

Real Estate Manager

Property Developer

Legal Counsel

Real Estate Attorney

Investment Manager

Land Acquisition Manager

Development Director

Project Manager

Real Estate Agent

Property Consultant

Compliance Officer

Finance Director

Commercial Director

Construction Manager

Urban Planner

Environmental Manager

Industries
Austrian Civil Code (ABGB - Allgemeines bürgerliches Gesetzbuch): The fundamental law governing contracts and property transfers in Austria, particularly §§ 380-446 regarding purchase contracts and §§ 431-446 concerning property transfer regulations
Land Register Act (Grundbuchsgesetz): Regulates the registration of real estate ownership and encumbrances in the land register, which is mandatory for property transfers in Austria
Real Estate Transfer Tax Act (Grunderwerbsteuergesetz): Governs the taxation aspects of real estate transfers, including calculation and payment of transfer tax
Austrian Building Code (Bauordnung): Regional building regulations that affect land use and development potential, varying by federal state (Bundesland)
Zoning Laws (Raumordnungsgesetz): Determines the permitted use and development of the land according to local zoning regulations
Consumer Protection Act (Konsumentenschutzgesetz): Applies when one party is a consumer, providing additional protection and formal requirements
Environmental Protection Act (Umweltschutzgesetz): Relevant for potential environmental liabilities and restrictions on land use
Fee Act (Gebührengesetz): Regulates the stamp duties and other fees payable on real estate contracts
Land Transfer Act (Grundverkehrsgesetz): Regional laws restricting the purchase of real estate, particularly relevant for agricultural land or purchases by foreign buyers
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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