The Lease Purchase Agreement (Mietkaufvertrag) is commonly used in Austria when parties wish to structure a purchase through an initial lease period, typically to spread the cost of acquisition over time or for tax efficiency. This contract type is particularly useful in both commercial and residential contexts, offering flexibility in asset acquisition while providing security for both parties. The document must comply with Austrian legal requirements, including the ABGB, Consumer Protection Act (if applicable), and relevant tax laws. It typically includes detailed provisions on payment terms, maintenance obligations, insurance requirements, and the specific conditions for transferring ownership. This agreement type is especially relevant when the purchaser wants to use the asset immediately but prefers or needs to defer full payment or ownership transfer for financial, tax, or strategic reasons.
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1. Parties: Identification of the lessor/seller and lessee/purchaser with full legal names and addresses
2. Background: Context of the agreement and brief description of the transaction structure
3. Definitions: Definitions of key terms used throughout the agreement
4. Object of Agreement: Detailed description of the property/asset subject to the lease purchase agreement
5. Lease Term: Duration of the lease period before purchase option becomes exercisable
6. Lease Payments: Amount, frequency, and terms of lease payments, including how they contribute to the purchase price
7. Purchase Option: Terms and conditions for exercising the purchase option, including the final purchase price calculation
8. Maintenance and Usage: Responsibilities for maintenance, repairs, and permitted use of the property during the lease period
9. Insurance and Risk: Insurance requirements and allocation of risk during the lease period
10. Transfer of Ownership: Process and conditions for the transfer of ownership upon exercise of the purchase option
11. Default and Termination: Events of default, remedies, and termination provisions
12. Taxes and Costs: Allocation of taxes, registration fees, and other costs
13. Governing Law: Confirmation of Austrian law as governing law and jurisdiction
14. Notices: Process and addresses for formal communications between parties
15. Miscellaneous: Standard boilerplate provisions including severability, entire agreement, and amendments
1. Guarantees: Required when there is a third-party guarantor for the lessee's obligations
2. Special Usage Conditions: For properties/assets with specific usage requirements or restrictions
3. Property Management: For real estate agreements where property management services are included
4. Early Purchase Option: When early purchase is allowed before the end of the lease term
5. Sublease Rights: When sublease or assignment rights are granted to the lessee
6. VAT Election: When parties elect specific VAT treatment for the transaction
7. Environmental Provisions: For properties where environmental concerns need to be addressed
1. Property Description: Detailed technical description of the property/asset including photographs, plans, or specifications
2. Payment Schedule: Detailed breakdown of lease payments, purchase price allocation, and payment dates
3. Condition Report: Initial condition report of the property/asset at the time of lease commencement
4. Maintenance Schedule: Required maintenance activities and their frequency
5. Insurance Requirements: Detailed insurance specifications and minimum coverage requirements
6. Handover Protocol: Template for documenting the initial handover and final transfer of the property
7. Permitted Alterations: List of alterations that can be made to the property during the lease period
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