The Agreement To Sell Property is a crucial document in Austrian real estate transactions, used whenever real property is being transferred from one party to another. It must comply with strict Austrian legal requirements, including mandatory notarization and specific provisions required by the Austrian Civil Code (ABGB) and Land Register Act. This agreement serves as the foundation for property transfer, containing essential elements such as precise property description, purchase price, payment terms, warranties, and transfer conditions. It is particularly important as it forms the basis for the land registry registration, which is required to legally complete the property transfer in Austria. The document should be prepared with careful attention to Austrian property law requirements and typically involves the participation of legal professionals and notaries to ensure compliance and enforceability.
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1. Parties: Identification of the seller and buyer with full legal names, addresses, and registration details if applicable
2. Background: Context of the sale and brief description of the property being sold
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Description: Detailed description of the property including land register details (Grundbuch), property address, and cadastral number
5. Purchase Price: Agreed purchase price, payment terms, and payment schedule
6. Transfer of Ownership: Terms and conditions for the transfer of property ownership and registration in the land register
7. Seller's Warranties: Warranties regarding property ownership, encumbrances, and condition
8. Handover Conditions: Terms for the physical handover of the property and transfer of keys
9. Costs and Taxes: Allocation of transaction costs, transfer taxes, and registration fees
10. Notarization: Provisions regarding the mandatory notarization process
11. Governing Law: Confirmation of Austrian law as governing law and jurisdiction
12. Execution: Signature blocks and notary certification requirements
1. Mortgage Release: Required if the property has existing mortgages that need to be cleared
2. Tenant Provisions: Required if the property is currently leased to tenants
3. Condition Precedents: Include if there are specific conditions that must be met before completion
4. Due Diligence: Include if buyer requires specific inspection or review rights
5. Broker Provisions: Required if real estate brokers are involved in the transaction
6. Utilities and Contracts: Include if there are specific arrangements for transfer of utility contracts
7. Environmental Provisions: Required if there are environmental concerns or assessments
8. Construction Warranties: Include for new properties or recent renovations with ongoing warranties
9. Fixtures and Fittings: Required if specific items are included or excluded from the sale
1. Property Description Schedule: Detailed technical description of the property including land register extract (Grundbuchauszug)
2. Title Documents: Copies of relevant title documents and land register entries
3. Property Plans: Floor plans, site plans, and cadastral maps
4. Inventory List: List of fixtures, fittings, and other items included in the sale
5. Energy Certificate: Mandatory energy performance certificate (Energieausweis)
6. Building Permits: Copies of relevant building permits and certificates
7. Payment Schedule: Detailed schedule of payment terms and installments if applicable
8. Due Diligence Reports: Technical, legal, or environmental reports if applicable
Authors
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Property Development
Construction
Banking & Finance
Legal Services
Property Management
Infrastructure
Hospitality
Retail
Industrial & Manufacturing
Agriculture (for agricultural property)
Commercial Property
Relevant Teams
Legal
Real Estate
Property Management
Corporate Development
Finance
Operations
Risk Management
Compliance
Business Development
Investment
Asset Management
Facilities Management
Relevant Roles
Real Estate Manager
Property Developer
Legal Counsel
Real Estate Lawyer
Notary
Property Manager
Real Estate Agent
Investment Manager
Asset Manager
Facilities Manager
Transaction Manager
Corporate Counsel
Business Development Manager
Finance Director
Real Estate Investment Analyst
Property Portfolio Manager
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