The Agreement To Sell With Possession is a specialized contract used in German property transactions where there is a need to separate the transfer of possession from the transfer of ownership. This arrangement is particularly useful in scenarios where the buyer requires immediate use of the property while financing, administrative processes, or other conditions are being fulfilled. The document comprehensively addresses both the sale and possession aspects under German law, including purchase terms, possession conditions, maintenance responsibilities, and ownership transfer procedures. It's commonly used in commercial property transactions, development projects, or situations where staged completion or payment is desired. The agreement must comply with German Civil Code (BGB) requirements and often requires notarization for certain property types.
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1. Parties: Identification and details of the seller and buyer
2. Background: Context of the transaction and purpose of the agreement
3. Definitions: Key terms used throughout the agreement
4. Object of Sale: Detailed description of the property being sold
5. Purchase Price: Price, payment terms, and payment schedule
6. Transfer of Possession: Terms and conditions for transferring possession to the buyer
7. Transfer of Ownership: Conditions and process for transferring legal title
8. Seller's Warranties: Warranties regarding property condition, ownership, and encumbrances
9. Buyer's Obligations: Responsibilities and obligations of the buyer during possession
10. Maintenance and Costs: Allocation of maintenance responsibilities and associated costs
11. Insurance: Insurance requirements during the possession period
12. Default and Remedies: Consequences of breach and available remedies
13. Termination: Grounds and process for termination
14. Notices: Communication requirements between parties
15. Governing Law: Confirmation of German law application and jurisdiction
16. Miscellaneous: Standard boilerplate provisions
1. Financing Provisions: Include when purchase involves external financing or installment payments
2. Consumer Protection Clauses: Required when one party is a consumer under German law
3. Third Party Rights: Include when there are existing tenants or other third-party rights
4. Environmental Provisions: Include for properties with potential environmental concerns
5. Construction/Renovation: Include when buyer plans modifications during possession period
6. Property Management: Include for commercial properties requiring specific management arrangements
7. Tax Provisions: Include when special tax considerations apply to the transaction
8. Broker Provisions: Include when real estate agents are involved in the transaction
1. Property Description: Detailed technical description and plans of the property
2. Inventory List: List of included fixtures, fittings, and other items
3. Payment Schedule: Detailed breakdown of payment installments and dates
4. Condition Report: Documentation of property condition at possession transfer
5. Existing Contracts: List and copies of relevant existing contracts affecting the property
6. Required Permits: Copies of necessary permits and certificates
7. Insurance Specifications: Detailed insurance requirements and coverage
8. Form of Transfer Deed: Template for the final property transfer deed
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Commercial Property
Residential Property
Banking & Finance
Construction
Manufacturing
Retail
Hospitality
Industrial
Agriculture
Logistics
Relevant Teams
Legal
Real Estate
Finance
Operations
Risk Management
Facilities Management
Corporate Development
Investment
Asset Management
Contract Administration
Property Management
Relevant Roles
Real Estate Manager
Property Developer
Legal Counsel
Corporate Lawyer
Finance Director
Chief Financial Officer
Property Manager
Facilities Manager
Contract Manager
Risk Manager
Business Development Manager
Investment Manager
Asset Manager
Operations Director
Commercial Director
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