The Option To Purchase Real Estate Agreement Form is a vital instrument in Austrian real estate transactions, providing a structured framework for potential property acquisitions. This document is typically used when a party wishes to secure the right to purchase a property without immediate commitment to the full purchase, common in development projects, commercial real estate transactions, or strategic property acquisitions. The agreement must comply with Austrian legal requirements, including the ABGB (Austrian Civil Code) and Grundbuchsgesetz (Land Register Act), and requires notarization for validity. It includes essential elements such as property details, option period, purchase price, exercise mechanisms, and parties' rights and obligations. This type of agreement is particularly valuable in scenarios requiring due diligence, financing arrangements, or phased property development planning.

1. Parties: Identification of the Option Grantor (property owner) and Option Holder, including full legal names, addresses, and registration details if companies

2. Background: Context of the agreement, including brief description of the property and parties' intentions

3. Definitions: Definitions of key terms used throughout the agreement, including 'Option Period', 'Purchase Price', 'Property', etc.

4. Grant of Option: Clear statement granting the option to purchase, specifying its exclusive nature if applicable

5. Option Period: Duration of the option, including start and end dates, and any extension mechanisms

6. Exercise of Option: Process and formalities for exercising the option, including notice requirements

7. Purchase Price: Specified purchase price or mechanism for determining it, including any deposits or option fees

8. Property Description: Detailed legal description of the property, including land register details

9. Title and Ownership: Warranties regarding title and ownership, encumbrances, and condition of the property

10. Costs and Taxes: Allocation of costs, including transfer taxes, registration fees, and notary costs

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

12. Execution: Signature blocks and notarization requirements