The Real Estate Purchase Agreement is a fundamental document in German property transactions, required whenever real estate ownership is transferred between parties. This agreement must be executed in compliance with German law, particularly the German Civil Code (BGB), and requires mandatory notarization (beurkundungspflichtig). It is used for all types of real property transfers, including land, residential properties, commercial buildings, and industrial facilities. The document includes crucial information about the property, parties involved, purchase price, payment terms, warranties, and specific conditions for ownership transfer. It also addresses tax implications, especially the real estate transfer tax (Grunderwerbsteuer), and requirements for registration in the German land registry (Grundbuch). The agreement serves as the basis for the actual transfer of property ownership and must meet strict formal requirements to be legally valid in Germany.
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1. Parties: Identification and details of the seller and purchaser, including full legal names, addresses, and registration details if companies
2. Background: Context of the transaction and brief description of the property being sold
3. Definitions: Key terms used throughout the agreement
4. Property Description: Detailed description of the property including exact address, land registry details, and cadastral information
5. Purchase Price: Specification of the purchase price, payment terms, and payment schedule
6. Transfer of Ownership: Terms and conditions for the transfer of property ownership, including registration in the land register
7. Representations and Warranties: Seller's declarations regarding property condition, encumbrances, and legal status
8. Due Diligence: Buyer's investigation rights and seller's obligation to provide documentation
9. Notarization and Closing: Requirements for notarial authentication and closing process
10. Costs and Taxes: Allocation of transaction costs, notary fees, and real estate transfer tax
11. Possession and Risk: Transfer of possession, keys, and risk allocation
12. Governing Law: Confirmation of German law application and jurisdiction
1. Financing Conditions: Include when purchase is subject to buyer obtaining financing
2. Tenant Rights: Include when property is sold with existing tenants
3. Environmental Provisions: Include when property has known environmental issues or requires specific declarations
4. Construction Requirements: Include when property includes unfinished construction or requires specific building obligations
5. Property Management: Include for apartment buildings or properties with shared facilities
6. Broker Provisions: Include when real estate agents are involved in the transaction
7. Monument Protection: Include when property is under historical monument protection
8. Right of First Refusal: Include when there are existing rights of first refusal or when creating new ones
1. Property Plans: Official cadastral plans and property drawings
2. Land Register Extract: Current extract from the land register (Grundbuchauszug)
3. Property Inventory: List of included fixtures, fittings, and other items
4. Energy Certificate: Mandatory energy performance certificate (Energieausweis)
5. Building Permits: Copies of relevant building permits and certificates
6. Encumbrances List: Detailed list of all encumbrances and easements
7. Payment Schedule: Detailed schedule of payment installments if applicable
8. Due Diligence Documents: List of all technical and legal due diligence documents
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Property Development
Construction
Banking & Finance
Legal Services
Property Management
Investment & Asset Management
Urban Development
Hospitality
Retail
Industrial & Logistics
Residential Property
Relevant Teams
Legal
Real Estate
Property Management
Asset Management
Investment
Compliance
Finance
Business Development
Facilities Management
Risk Management
Operations
Due Diligence
Transaction Management
Relevant Roles
Real Estate Attorney
Property Manager
Real Estate Agent
Investment Manager
Asset Manager
Legal Counsel
Notary
Property Developer
Acquisition Manager
Real Estate Investment Director
Portfolio Manager
Transaction Manager
Facilities Manager
Development Director
Real Estate Analyst
Property Surveyor
Compliance Officer
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