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Lot Purchase Contract

Lot Purchase Contract Template for Austria

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Key Requirements PROMPT example:

Lot Purchase Contract

"I need a Lot Purchase Contract for the sale of my residential plot in Vienna to an individual buyer, with a completion date of March 15, 2025, including standard warranties and allowing for payment in two installments."

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Document background
The Lot Purchase Contract (Grundst眉ckskaufvertrag) is a fundamental document in Austrian real estate transactions, used whenever there is a transfer of land ownership between parties. This document is essential for both private and commercial real estate transactions in Austria, requiring strict adherence to local property law requirements. It must include specific elements required by Austrian law, including proper party identification, exact property description, clear price terms, and the mandatory registration authorization (础耻蹿蝉补苍诲耻苍驳蝉别谤办濒盲谤耻苍驳). The contract typically requires notarization and forms the basis for the property's registration in the Austrian land register. It's particularly important to note that this document must comply with both federal Austrian law and any applicable state (Bundesland) regulations regarding property transfers.
Suggested Sections

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

2. Background: Context of the transaction and brief description of the parties' intentions

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

4. Property Description: Detailed description of the lot including land register details, cadastral number, size, and location

5. Purchase Price: Specification of the purchase price, payment terms, and payment schedule

6. Transfer of Ownership: Terms and conditions for the transfer of title and registration in the land register

7. Representations and Warranties: Seller's warranties regarding property ownership, encumbrances, and condition

8. Handover and Transfer of Risk: Conditions and timing for the physical handover of the property and transfer of risk

9. Costs and Taxes: Allocation of transaction costs, transfer taxes, and registration fees

10. Registration Authorization: Authorization for land register registration (础耻蹿蝉补苍诲耻苍驳蝉别谤办濒盲谤耻苍驳)

11. Governing Law and Jurisdiction: Specification of Austrian law as governing law and jurisdiction for disputes

12. Execution: Signature requirements and notarization provisions

Optional Sections

1. Condition Precedents: Specific conditions that must be met before the contract becomes effective, used when there are pending approvals or requirements

2. Existing Encumbrances: Details of any existing easements, rights of way, or other encumbrances, included when the property has registered burdens

3. Development Obligations: Specific requirements for development of the lot, included when there are building obligations or restrictions

4. Environmental Provisions: Specific provisions regarding environmental conditions or obligations, used when environmental issues are relevant

5. Broker Provisions: Terms regarding real estate broker involvement and commissions, included when a broker is involved

6. Right of First Refusal: Terms of any pre-existing or new rights of first refusal, included when such rights are to be granted

7. Utilities and Infrastructure: Provisions regarding connection to utilities and infrastructure, included for undeveloped lots

Suggested Schedules

1. Land Register Extract: Current extract from the land register (Grundbuchauszug)

2. Site Plan: Cadastral map or site plan showing the exact boundaries of the lot

3. Payment Schedule: Detailed schedule of payment installments if applicable

4. Property Documentation: Relevant property certificates, permits, and technical documentation

5. Zoning Certificate: Current zoning certificate or land use regulations applicable to the lot

6. Power of Attorney: Any relevant powers of attorney if parties are represented by agents

7. Due Diligence Reports: Any technical or legal due diligence reports referenced in the contract

Authors

Alex Denne

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

alex.den.21@genieai.co
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Real Estate

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