Condominium Purchase Agreement

Condominium Purchase Agreement Template for Germany

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Key Requirements PROMPT example:

"I need a Condominium Purchase Agreement for purchasing a 2-bedroom residential unit in Berlin, Germany, as a private buyer, with completion planned for March 2025, including standard warranties and parking space rights."

Document background

The Condominium Purchase Agreement (Kaufvertrag über eine Eigentumswohnung) is a fundamental legal document used in German real estate transactions for the transfer of condominium ownership. It is essential for any purchase of a residential or commercial condominium unit in Germany, whether between private individuals or involving commercial entities. The document must comply with strict German legal requirements, including mandatory notarization under the German Civil Code (BGB) and specific provisions of the Condominium Act (WEG). This agreement is used to document the complete terms of the property transfer, including property details, ownership rights, common property provisions, purchase price, payment terms, and all associated obligations. It serves as the basis for the land registry entry and tax assessment, making it a crucial document for property ownership transfer in Germany.

Suggested Sections

1. Parties: Identification of seller(s) and purchaser(s) with full legal names, addresses, and registration details if applicable

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

3. Definitions: Key terms used throughout the agreement, including property-specific terminology and legal concepts

4. Property Description: Detailed description of the condominium unit, including land register details, floor space, location within the building, and associated rights

5. Common Property Rights: Specification of share in common property and associated rights under the WEG

6. Purchase Price: Statement of purchase price, payment terms, and escrow arrangements

7. Transfer of Title: Conditions and process for transferring property title, including land registry requirements

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

9. Possession and Risk Transfer: Terms for transferring possession and associated risks to the purchaser

10. Costs and Taxes: Allocation of transaction costs, including transfer tax, notary fees, and registration costs

11. Due Diligence Results: Confirmation of property inspection and acceptance of condition

12. Property Management: Current property management arrangements and transfer of contracts

13. Notarization Statement: Required legal statement regarding notarization of the agreement

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

15. Execution: Signature blocks and notarization requirements

Optional Sections

1. Mortgage and Financing: Include when purchaser is financing the purchase through a mortgage, detailing lender requirements and security arrangements

2. Existing Tenancies: Include when the property is currently leased, describing tenant rights and obligations

3. Renovation Rights: Include when specific renovation or modification rights are being granted or restricted

4. Special Use Rights: Include when there are exclusive use rights for certain common areas (e.g., parking, garden)

5. Pending Legal Proceedings: Include when there are ongoing legal matters affecting the property

6. Energy Certificate Details: Include when specific energy efficiency requirements need to be documented

7. Monument Protection: Include when the building is under historical protection (Denkmalschutz)

8. Special Maintenance Fund: Include when there are specific arrangements regarding the maintenance reserve fund

Suggested Schedules

1. Land Register Extract: Current extract from the land register (Grundbuchauszug) showing ownership and encumbrances

2. Floor Plans: Detailed plans showing the unit boundaries and common areas

3. Property Photos: Current photographs documenting the condition of the property

4. Declaration of Division: Copy of the condominium declaration (Teilungserklärung)

5. House Rules: Current house rules and regulations (Hausordnung)

6. Meeting Minutes: Recent owners' association meeting minutes showing decisions affecting the property

7. Maintenance Plan: Current maintenance and repair schedule for the building

8. Property Manager's Certificate: Certificate showing current service charge payments and outstanding amounts

9. Energy Certificate: Current energy performance certificate (Energieausweis)

Authors

Alex Denne

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

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Real Estate

Banking & Finance

Property Development

Construction

Legal Services

Property Management

Insurance

Investment Management

Public Sector

Residential Property

Relevant Teams

Legal

Real Estate

Property Management

Compliance

Finance

Tax

Investment

Facilities Management

Risk Management

Corporate Services

Operations

Relevant Roles

Real Estate Lawyer

Property Manager

Real Estate Agent

Notary

Legal Counsel

Property Developer

Investment Manager

Real Estate Investment Officer

Compliance Officer

Tax Advisor

Banking Officer

Property Valuation Expert

Facilities Manager

Real Estate Portfolio Manager

Corporate Real Estate Manager

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