The Apartment Purchase Agreement (Wohnungskaufvertrag) is a crucial legal document used in Austrian real estate transactions for the transfer of apartment ownership. It is essential when purchasing or selling residential apartments in Austria, whether new construction or existing properties. The agreement must comply with Austrian legal requirements, particularly the ABGB (Austrian Civil Code) and WEG 2002 (Apartment Ownership Act), and includes detailed provisions about the property, purchase price, payment terms, transfer of ownership, and respective rights and obligations of the parties. This document is typically prepared by legal professionals and requires notarization for land register registration purposes. It serves as the foundational document for transferring apartment ownership and establishing the legal relationship between buyer and seller while ensuring compliance with Austrian property law requirements.
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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 property being sold
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Description: Detailed description of the apartment, including land register details, floor area, layout, and associated rights
5. Purchase Price: Specification of the purchase price, payment terms, and payment schedule
6. Payment Terms: Details of how and when payments are to be made, including escrow arrangements if applicable
7. Transfer of Ownership: Conditions and process for transferring legal ownership, including land register registration requirements
8. Handover: Terms and conditions for the physical handover of the property
9. Representations and Warranties: Seller's warranties regarding the property's condition, encumbrances, and legal status
10. Rights and Obligations: Ongoing rights and obligations of both parties, including those related to common areas
11. Costs and Taxes: Allocation of transaction costs, taxes, and fees between parties
12. Governing Law: Confirmation of Austrian law as governing law and jurisdiction
13. Execution: Signature blocks and execution requirements
1. Mortgage and Financing: Include when the purchase is subject to mortgage financing or specific financing conditions
2. Property Management: Include when there are specific property management arrangements or building management rules to be acknowledged
3. Renovation Works: Include when the buyer plans to undertake renovation works subject to specific conditions
4. Parking Space: Include when parking spaces or garage rights are part of the transaction
5. Storage Units: Include when storage units or cellar compartments are part of the transaction
6. Defects and Remediation: Include when there are known defects that need to be addressed or remediated
7. Third-Party Rights: Include when there are existing tenants or other third-party rights affecting the property
8. Developer Provisions: Include when the property is being purchased from a developer (incorporating BTVG requirements)
1. Floor Plans: Detailed floor plans of the apartment and common areas
2. Land Register Extract: Current extract from the land register (Grundbuchauszug)
3. Property Documentation: Technical documentation, including energy certificate and building permits
4. Inventory List: List of fixtures, fittings, and any furniture included in the sale
5. Building Rules: House rules and regulations (Hausordnung)
6. Maintenance Charges: Schedule of current maintenance charges and reserve fund contributions
7. Condition Report: Report on the current condition of the property
8. Payment Schedule: Detailed schedule of payment installments and due dates
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Legal Services
Banking and Finance
Construction and Development
Property Management
Insurance
Public Administration
Professional Services
Housing and Development
Relevant Teams
Legal
Real Estate
Compliance
Property Management
Sales
Operations
Documentation
Transaction Management
Investment
Risk Management
Relevant Roles
Real Estate Lawyer
Property Manager
Real Estate Agent
Legal Counsel
Notary Public
Property Developer
Compliance Officer
Real Estate Transaction Manager
Housing Development Manager
Contract Administrator
Property Sales Manager
Real Estate Investment Manager
Legal Documentation Specialist
Real Estate Operations Manager
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