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Assignment Contract (Real Estate)

Assignment Contract (Real Estate) Template for Belgium

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Key Requirements PROMPT example:

Assignment Contract (Real Estate)

"I need a Real Estate Assignment Contract for transferring a commercial office building in Brussels to a subsidiary company, including provisions for existing tenants and ensuring compliance with local urban planning regulations, with completion planned for March 2025."

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Document background
The Assignment Contract (Real Estate) is a crucial document in Belgian property transactions, used when transferring ownership rights and obligations of real estate property. This document type is essential in various scenarios, including property portfolio restructuring, corporate reorganizations, or individual property transfers. It must comply with Belgian federal and regional property laws, requiring notarial authentication and proper registration with relevant authorities. The contract includes comprehensive details about the property, parties involved, financial terms, and legal obligations. It addresses specific Belgian requirements such as registration duties, urban planning certificates, and energy performance certificates. The document's structure and content are designed to ensure legal certainty and protect both parties' interests while meeting all regulatory requirements for property transfer in Belgium.
Suggested Sections

1. Parties: Identification of the Assignor and Assignee, including full legal names, addresses, and registration details for legal entities

2. Background: Context of the assignment, including the original ownership details and reason for assignment

3. Definitions: Key terms used throughout the agreement, including property-specific terminology and legal concepts

4. Subject Matter of Assignment: Detailed description of the real estate being assigned, including cadastral details and exact location

5. Assignment Price and Payment Terms: The agreed price for the assignment and detailed payment structure, including any deposits or installments

6. Warranties and Representations: Assignor's warranties regarding property ownership, absence of encumbrances, and other material facts

7. Conditions Precedent: Any conditions that must be met before the assignment becomes effective

8. Completion: Process and requirements for completing the assignment, including notarial requirements

9. Transfer of Rights and Obligations: Specific provisions regarding the transfer of all associated rights and obligations

10. Registration and Notarial Requirements: Details of the required registration process and notarial authentication

11. Costs and Taxes: Allocation of transaction costs, registration duties, and other applicable taxes

12. Governing Law and Jurisdiction: Confirmation of Belgian law application and competent courts

Optional Sections

1. Existing Tenancies: Details of any existing lease agreements and transfer of landlord obligations - include when property is currently leased

2. Urban Planning Compliance: Specific provisions regarding urban planning permits and compliance - include for properties requiring specific permits or with development potential

3. Environmental Provisions: Environmental guarantees and soil certificates - include for properties in industrial zones or with potential contamination

4. Energy Performance: Energy performance certificate details - include for residential properties or when required by regional regulations

5. Mortgage Arrangements: Details of existing mortgages and their handling - include when property has existing mortgage

6. Co-ownership Provisions: Specific provisions regarding apartment buildings or shared properties - include for properties in co-ownership

7. Commercial Licenses: Transfer of commercial licenses and permits - include for commercial properties

8. Construction Warranties: Transfer of ongoing construction warranties - include for newly built properties

Suggested Schedules

1. Property Description: Detailed technical description of the property, including plans and cadastral excerpts

2. Title Documents: Copies of relevant title documents and proof of ownership

3. Property Charges: Overview of all charges, taxes, and utilities associated with the property

4. Existing Contracts: Copies of relevant ongoing contracts (maintenance, utilities, etc.)

5. Technical Reports: Various technical reports including energy performance certificate, soil certificate, etc.

6. Urban Planning Certificates: Copies of urban planning certificates and permits

7. Property Photos: Recent photographs documenting the current state of the property

8. Payment Schedule: Detailed schedule of payments and financial obligations

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
Clauses
Parties
Definitions
Assignment
Property Description
Purchase Price
Payment Terms
Conditions Precedent
Representations and Warranties
Title Transfer
Registration Requirements
Notarial Authentication
Property Handover
Existing Tenancies
Urban Planning Compliance
Environmental Compliance
Energy Performance
Tax Obligations
Costs and Expenses
Risk Transfer
Insurance
Due Diligence
Property Charges
Utilities Transfer
Mortgage Provisions
Co-ownership
Indemnification
Force Majeure
Termination
Notices
Assignment and Transfer
Confidentiality
Data Protection
Dispute Resolution
Governing Law
Jurisdiction
Severability
Entire Agreement
Amendments
Counterparts
Relevant Industries

Real Estate

Property Development

Construction

Banking and Finance

Legal Services

Property Investment

Commercial Property

Residential Property

Urban Development

Property Management

Relevant Teams

Legal

Real Estate

Property Management

Corporate Development

Compliance

Investment

Operations

Asset Management

Risk Management

Finance

Relevant Roles

Real Estate Lawyer

Property Manager

Legal Counsel

Notary

Real Estate Agent

Property Developer

Investment Manager

Asset Manager

Corporate Lawyer

Compliance Officer

Real Estate Investment Director

Property Portfolio Manager

Legal Director

Transaction Manager

Real Estate Operations Manager

Industries
Belgian Civil Code (Articles 1689-1701): Fundamental provisions governing the assignment of rights and obligations, including the conditions for valid assignment and the effects of assignment on third parties
Belgian Civil Code (Articles 1582-1701): General provisions on sales contracts and transfer of property, which form the basis of real estate transactions
Mortgage Law of 16 December 1851: Regulations concerning property registration, mortgages, and publicity requirements for real estate transactions
Registration Duties Code: Provisions regarding registration taxes and duties applicable to real estate transfers
Notary Law of 25 Ventôse Year XI: Requirements for notarial authentication of real estate transactions and the role of notaries in property transfers
Belgian Income Tax Code: Tax implications and obligations related to real estate assignments and transfers
Regional Urban Planning Codes: Specific regulations for each Belgian region regarding urban planning permits, zoning, and property use restrictions
Anti-Money Laundering Law of 18 September 2017: Compliance requirements for real estate transactions to prevent money laundering and terrorist financing
Energy Performance of Buildings Decree: Requirements for energy performance certificates and related obligations in real estate transactions
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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