The Deed of Sale with Assumption of Mortgage is a specialized legal instrument used in Swiss real estate transactions where the buyer takes over the seller's existing mortgage instead of obtaining new financing. This document type is particularly relevant when the existing mortgage terms are favorable or when parties wish to avoid the costs and complexity of new financing arrangements. The deed must comply with strict Swiss legal requirements, including notarization and registration in the cantonal land register. It combines elements of a standard property sale agreement with specific provisions for mortgage assumption, making it a complex document that requires careful drafting to ensure all legal requirements are met. The document typically includes detailed information about the property, existing mortgage terms, transfer conditions, and parties' obligations, while ensuring compliance with both federal and cantonal regulations governing property transfers and mortgage assumptions.
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1. Parties: Identification of the seller, buyer, and current mortgage holder (typically a bank)
2. Background: Context of the sale and existing mortgage situation
3. Definitions: Key terms used throughout the deed
4. Property Description: Detailed legal description of the property including land register details and cadastral information
5. Purchase Price: Total purchase price and payment structure, including the portion covered by the assumed mortgage
6. Mortgage Assumption Terms: Details of the mortgage being assumed, including principal amount, interest rate, and payment terms
7. Transfer of Ownership: Terms and conditions for the transfer of property title
8. Seller's Warranties: Warranties regarding property title, existing encumbrances, and mortgage status
9. Buyer's Acknowledgments: Confirmation of property inspection and acceptance of mortgage obligations
10. Costs and Taxes: Allocation of transfer taxes, notary fees, and registration costs
11. Completion Requirements: Steps required to complete the transfer and mortgage assumption
12. Governing Law and Jurisdiction: Confirmation of Swiss law application and jurisdiction
1. Property Condition: Detailed description of property condition when specific issues need to be acknowledged
2. Environmental Matters: Required when there are environmental considerations or contamination issues
3. Tenant Rights: Include when the property is subject to existing lease agreements
4. Special Payment Arrangements: Used when there are installment payments or special financing arrangements beyond the mortgage
5. Property Management Transition: Needed for properties with ongoing management requirements
6. Insurance Requirements: Special insurance provisions beyond standard requirements
7. Post-Completion Obligations: Any specific obligations that continue after completion of the sale
1. Property Details Schedule: Detailed property description, including plans and cadastral details
2. Mortgage Agreement: Copy of the existing mortgage agreement being assumed
3. Title Documents: Extract from the land register and relevant title documents
4. Property Inspection Report: Technical assessment of property condition
5. Payment Schedule: Detailed breakdown of payment terms and mortgage assumption schedule
6. Existing Encumbrances: List of all registered encumbrances and easements
7. Bank Consent: Written consent from the mortgage holder for the assumption of mortgage
8. Tax Certificates: Current tax assessment and payment status for the property
Relevant legal definitions
Agreement
Assumption Date
Bank Consent
Building
Business Day
Cantonal Requirements
Completion
Completion Date
Deed
Encumbrances
Existing Mortgage
Land Register
Land Registry Office
Loan Agreement
Mortgage
Mortgage Amount
Mortgage Holder
Notary Public
Outstanding Balance
Parties
Payment Schedule
Permitted Encumbrances
Property
Purchase Price
Purchaser
Registration Requirements
Seller
Swiss Civil Code
Swiss Code of Obligations
Title Documents
Transfer Date
Transfer Taxes
Warranties
Assumption Date
Bank Consent
Building
Business Day
Cantonal Requirements
Completion
Completion Date
Deed
Encumbrances
Existing Mortgage
Land Register
Land Registry Office
Loan Agreement
Mortgage
Mortgage Amount
Mortgage Holder
Notary Public
Outstanding Balance
Parties
Payment Schedule
Permitted Encumbrances
Property
Purchase Price
Purchaser
Registration Requirements
Seller
Swiss Civil Code
Swiss Code of Obligations
Title Documents
Transfer Date
Transfer Taxes
Warranties
Clauses
Property Description
Sale and Purchase
Purchase Price
Payment Terms
Mortgage Assumption
Transfer of Title
Representations and Warranties
Property Condition
Encumbrances
Due Diligence
Land Registry Requirements
Notarization Requirements
Tax Obligations
Insurance
Risk Transfer
Completion Requirements
Default
Remedies
Force Majeure
Assignment
Notices
Severability
Entire Agreement
Amendment
Governing Law
Jurisdiction
Language
Costs and Expenses
Sale and Purchase
Purchase Price
Payment Terms
Mortgage Assumption
Transfer of Title
Representations and Warranties
Property Condition
Encumbrances
Due Diligence
Land Registry Requirements
Notarization Requirements
Tax Obligations
Insurance
Risk Transfer
Completion Requirements
Default
Remedies
Force Majeure
Assignment
Notices
Severability
Entire Agreement
Amendment
Governing Law
Jurisdiction
Language
Costs and Expenses
Relevant Industries
Real Estate
Banking and Financial Services
Legal Services
Property Development
Construction
Property Investment
Mortgage Services
Commercial Property
Residential Property
Public Administration
Relevant Teams
Legal
Real Estate
Property Management
Finance
Mortgage Services
Compliance
Risk Management
Corporate Banking
Investment Banking
Property Administration
Relevant Roles
Real Estate Lawyer
Property Manager
Mortgage Advisor
Real Estate Agent
Bank Manager
Property Developer
Legal Counsel
Notary Public
Land Registry Officer
Financial Controller
Real Estate Investment Manager
Compliance Officer
Property Administrator
Real Estate Transaction Manager
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