Property Sale Contract

Property Sale Contract Template for Denmark

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Document background

The Property Sale Contract is a fundamental legal document used in Danish real estate transactions to formalize the transfer of property ownership. It serves as the primary agreement between parties in both residential and commercial property sales within Denmark's jurisdiction. This document must comply with specific requirements under Danish property law, including the Danish Sale of Property Act, Registration Act, and related legislation. The contract typically includes comprehensive details about the property, price, payment terms, conditions for transfer, and both parties' rights and obligations. It's essential for ensuring legal certainty in property transactions and facilitating proper registration with the Danish Land Registry. The document should be drafted with careful consideration of Danish legal requirements, local property regulations, and specific transaction circumstances.

Suggested Sections

1. Parties: Identification and details of the seller and buyer, including full legal names, addresses, and registration numbers for any corporate entities

2. Background: Brief context of the transaction and property overview

3. Definitions: Definitions of key terms used throughout the contract

4. Property Description: Detailed description of the property including address, land registry details, cadastral number, and total area

5. Purchase Price: Specified purchase price, payment terms, and deposit requirements

6. Payment Terms: Detailed structure of payments including deposit, timing, and method of payment

7. Transfer of Ownership: Terms and conditions for the transfer of title and registration in the land registry

8. Closing Date and Handover: Specified date for closing the transaction and transferring possession

9. Seller's Warranties: Warranties regarding property condition, encumbrances, and legal status

10. Property Condition: Current condition of the property and any known defects

11. Due Diligence: Buyer's right to inspect and investigate the property

12. Costs and Taxes: Allocation of transaction costs, registration fees, and property taxes

13. Default and Remedies: Consequences of breach and available remedies for both parties

14. Governing Law: Specification of Danish law as governing law and jurisdiction

15. Signatures: Execution block for all parties

Optional Sections

1. Tenant Rights: Required when the property is currently leased, detailing existing tenancy agreements and transfer of landlord obligations

2. Mortgage Arrangements: Include when there are specific arrangements regarding existing or new mortgages

3. Renovation Requirements: Include when specific renovations are agreed to be completed before or after closing

4. Environmental Conditions: Required when there are known environmental issues or investigations

5. Planning Permissions: Include when there are pending or required planning permissions

6. Property Management: Required for properties with shared facilities or management arrangements

7. Furniture and Fixtures: Include when specific movable items are included in the sale

8. Development Rights: Required when there are specific development possibilities or restrictions

Suggested Schedules

1. Property Documentation: Land registry extract, cadastral maps, and property drawings

2. Technical Due Diligence: Building inspection reports, energy performance certificate, and technical assessments

3. Financial Information: Property tax assessments, utility bills, and maintenance costs

4. Environmental Reports: Soil contamination reports and environmental assessments

5. Planning Documents: Zoning certificates, building permits, and local development plans

6. Insurance Documentation: Current insurance policies and claims history

7. Maintenance Records: History of repairs, improvements, and maintenance schedule

8. Photographs: Current photographs documenting the property's condition

9. Tenant Documentation: Existing lease agreements and tenant correspondence if applicable

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