The Divorce House Buyout Agreement is a specialized legal document used in German divorce proceedings when one spouse wishes to acquire the other spouse's ownership interest in the matrimonial home. This document is essential when transitioning from joint ownership to single ownership or when transferring sole ownership from one spouse to another. The agreement must comply with strict German legal requirements, including notarization and land registry regulations. It typically includes detailed property descriptions, precise payment terms, tax considerations, and specific provisions required under German property and family law. The document becomes particularly relevant when couples seek to cleanly separate their assets and one party wishes to maintain the family home. This agreement must address both the requirements of the German Civil Code (BGB) regarding property transfers and the specific considerations of matrimonial property law.
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1. Parties: Identification of both parties, including full legal names, addresses, and marital status
2. Background: Context of the agreement including marriage date, divorce status, and property ownership history
3. Definitions: Key terms used throughout the agreement including Property, Purchase Price, Completion Date, etc.
4. Property Details: Detailed description of the property including land registry details (Grundbuch) and cadastral information
5. Purchase Price and Payment: Agreed purchase price, payment terms, and method of payment
6. Property Transfer: Terms and conditions for the transfer of property ownership including Auflassung (conveyance) requirements
7. Representations and Warranties: Declarations regarding property condition, encumbrances, and legal status
8. Costs and Taxes: Allocation of transfer costs, taxes, and registration fees
9. Completion Requirements: Steps required for completion including registration, payment, and handover
10. Governing Law and Jurisdiction: Confirmation of German law application and jurisdiction
1. Mortgage Arrangements: Required when existing mortgages need to be discharged or transferred
2. Rental Provisions: Needed if the property is currently rented to third parties
3. Installment Payment Plan: Include when purchase price is to be paid in installments
4. Property Maintenance: Required when specifying interim maintenance responsibilities
5. Matrimonial Home Rights: Include when addressing specific rights under German family law
6. Tax Equalization: Include when specific tax implications need to be balanced between parties
7. Occupation Agreement: Required when one party will continue to occupy the property for a defined period
1. Property Description Schedule: Detailed property description including boundaries, fixtures, and fittings
2. Land Registry Extract: Current Grundbuch extract showing ownership and encumbrances
3. Payment Schedule: Detailed payment plan including dates and amounts if installment payments apply
4. Existing Encumbrances: List of all existing mortgages, liens, or other encumbrances
5. Property Condition Report: Current condition of the property and any known defects
6. Transfer Tax Calculation: Calculation of applicable Grunderwerbsteuer (property transfer tax)
7. Notarial Requirements: List of documents required for notarization
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