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Agreement Between Buyer And Seller Of Property

Agreement Between Buyer And Seller Of Property Template for Germany

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Key Requirements PROMPT example:

Agreement Between Buyer And Seller Of Property

"I need an Agreement Between Buyer And Seller Of Property for a residential house sale in Munich, Germany, with a planned completion date of March 15, 2025, including provisions for the existing tenant's rights and the transfer of solar panel installation warranties."

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Document background
The Agreement Between Buyer And Seller Of Property is a fundamental legal document used in German real estate transactions to formalize the transfer of property ownership. This agreement is mandatory for any real estate sale in Germany and must be executed before a notary public (Notar) to be legally valid. It serves as the primary document for property transfers, incorporating requirements from the German Civil Code (BGB), land registry regulations, and property transfer tax laws. The agreement is used for various types of properties including residential, commercial, and industrial real estate. It contains essential elements such as precise property identification, purchase price, payment terms, warranties, and specific provisions required for registration in the German land registry (Grundbuch). This document type is particularly important as it forms the basis for the actual transfer of ownership and must comply with strict German formal requirements to be enforceable.
Suggested Sections

1. Parties: Identification of buyer and seller with full legal names, addresses, and registration details if companies

2. Background: Context of the sale and brief description of the property

3. Definitions: Key terms used throughout the agreement

4. Property Description: Detailed description of the property including land registry details (Grundbuch), exact location, size, and included fixtures

5. Purchase Price: Agreed purchase price, payment terms, and escrow arrangements

6. Condition of Property: Current state of the property, known defects, and as-is provisions

7. Transfer of Ownership: Terms for conveying title (Auflassung) and registration in the land registry

8. Warranties and Representations: Seller's warranties regarding property title, encumbrances, and condition

9. Costs and Taxes: Allocation of transaction costs, real estate transfer tax, and registration fees

10. Possession and Risk: Date of handover and transfer of risk to the buyer

11. Notarization and Registration: Provisions regarding notarial requirements and land registry registration

12. Governing Law: Confirmation of German law application and jurisdiction

Optional Sections

1. Mortgage Arrangements: Required if buyer is financing the purchase through a mortgage

2. Tenant Provisions: Required if the property is currently leased to tenants

3. Real Estate Agent: Required if a broker is involved in the transaction

4. Pre-emptive Rights: Required if there are any existing pre-emptive rights (Vorkaufsrechte)

5. Construction Requirements: Required if there are pending building obligations or restrictions

6. Environmental Provisions: Required if there are known environmental issues or contamination

7. Monument Protection: Required if the property is under historical monument protection (Denkmalschutz)

8. Condominium Association: Required if the property is part of a condominium complex

Suggested Schedules

1. Land Registry Extract: Current extract from the land registry (Grundbuchauszug)

2. Property Plan: Official cadastral plan and property boundaries

3. Energy Certificate: Energy performance certificate (Energieausweis)

4. Inventory List: List of included movable items and fixtures

5. Building Permits: Copies of relevant building permits and certificates

6. Property Tax Assessment: Current property tax assessment and payment status

7. Building Plans: Floor plans and technical drawings of the property

8. Inspection Report: Property condition assessment report if completed

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
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Relevant Industries

Real Estate

Construction

Banking & Finance

Legal Services

Property Development

Property Management

Architecture & Design

Urban Planning

Insurance

Hospitality

Retail

Manufacturing

Healthcare

Education

Relevant Teams

Legal

Real Estate

Property Management

Asset Management

Finance

Compliance

Risk Management

Corporate Development

Facilities Management

Investment

Operations

Due Diligence

Transaction Advisory

Portfolio Management

Relevant Roles

Real Estate Manager

Property Developer

Legal Counsel

Corporate Lawyer

Real Estate Agent

Property Manager

Facility Manager

Asset Manager

Investment Manager

Chief Financial Officer

Chief Legal Officer

Compliance Officer

Real Estate Portfolio Manager

Transaction Manager

Due Diligence Specialist

Property Valuation Specialist

Real Estate Investment Analyst

Corporate Real Estate Manager

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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