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The Tenancy In Common Agreement is a crucial document used when multiple parties wish to share ownership of real estate in Austria. This type of agreement is particularly relevant when co-owners want to hold different percentage interests in the property or when they need flexibility in transferring their interests. The document must comply with Austrian legal requirements, particularly the Austrian Civil Code (ABGB) and Land Register Act. It details essential aspects such as ownership percentages, management rights, financial obligations, and decision-making processes. The agreement is commonly used for both residential and commercial properties, and can accommodate various scenarios including family co-ownership, investment partnerships, or business arrangements. The document provides clarity on rights and responsibilities while offering protection to all parties involved in the co-ownership arrangement.

1. Parties: Identification of all co-owners including full legal names, addresses, and percentage of ownership interests

2. Background: Context of the agreement, including property details and purpose of the co-ownership arrangement

3. Definitions: Definitions of key terms used throughout the agreement

4. Property Details: Detailed description of the property, including land register details (Grundbuch) and property address

5. Ownership Interests: Specific percentage interests of each co-owner and how these are documented in the land register

6. Financial Contributions: Details of initial and ongoing financial contributions, including purchase price, maintenance costs, and other expenses

7. Management and Decision Making: Process for making decisions about the property, including voting rights and required majorities

8. Use and Occupation: Rules regarding use and occupation of the property by co-owners

9. Maintenance and Repairs: Responsibilities for property maintenance and repair, including cost allocation

10. Sale and Transfer Restrictions: Rules governing the sale or transfer of ownership interests, including any pre-emptive rights

11. Dispute Resolution: Procedures for resolving disputes between co-owners

12. Termination: Circumstances and procedures for terminating the co-ownership arrangement

13. Governing Law: Confirmation of Austrian law as governing law and jurisdiction