The Agreement For Flat Purchase is a fundamental legal document used in German real estate transactions for the purchase and sale of residential apartments or condominiums. This agreement is essential when transferring ownership of a flat unit in Germany and must be notarized to be legally valid. It encompasses crucial elements required by German law, including precise property identification, purchase price, payment terms, and specific provisions regarding common property rights under the Apartment Ownership Act (WEG). The document serves multiple purposes: it establishes the legal framework for the property transfer, protects both parties' interests, ensures compliance with German property law requirements, and provides the basis for land registry registration. The agreement is particularly important as it addresses unique aspects of German property law, such as the mandatory notarization requirement and specific regulations regarding apartment ownership in multi-unit buildings.
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1. Parties: Identification of buyer and seller with full legal names, addresses, and registration details if applicable
2. Background: Context of the transaction, brief description of the property, and intention of the parties to enter into the purchase agreement
3. Definitions: Definitions of key terms used throughout the agreement, including 'Property', 'Purchase Price', 'Completion Date', etc.
4. Object of Purchase: Detailed description of the flat, including exact location, size, and specification of the share in common property
5. Purchase Price: Specification of the purchase price, payment terms, and escrow arrangements
6. Payment Terms: Detailed payment schedule, including deposits, main payment, and any financing arrangements
7. Transfer of Ownership: Conditions and process for transferring legal ownership, including land registry requirements
8. Warranties and Representations: Seller's warranties regarding property condition, encumbrances, and other material facts
9. Handover and Possession: Terms for physical handover of the property and transfer of possession
10. Costs and Taxes: Allocation of transaction costs, taxes, and fees between parties
11. Notice and Communication: Methods and requirements for formal communications between parties
12. Governing Law and Jurisdiction: Confirmation of German law application and jurisdiction
1. Financing Conditions: To be included when purchase is subject to buyer obtaining mortgage financing
2. Existing Tenancies: Required when the property is currently rented and includes provisions about existing tenant rights
3. Renovation Agreement: Include when specific renovation work is agreed to be completed before or after purchase
4. Property Management: Required for properties in managed complexes with specific management arrangements
5. Energy Certificate: Include when specific agreements are made regarding the energy performance certificate
6. Defects and Remediation: Include when known defects exist and specific remediation agreements are made
7. Pre-emptive Rights: Required when there are existing pre-emptive rights that need to be addressed
1. Property Floor Plan: Detailed floor plan showing the exact boundaries of the flat and common areas
2. Land Registry Extract: Current extract from the land registry (Grundbuchauszug)
3. Property Certificate: Official property documentation from the land registry
4. Inventory List: List of any fixtures, fittings, or furniture included in the sale
5. Declaration of Division: Copy of the declaration of division (Teilungserkl盲rung) for the apartment building
6. House Rules: Current house rules and regulations of the property
7. Recent WEG Resolutions: Recent homeowners' association (WEG) resolutions affecting the property
8. Maintenance Plan: Current maintenance and renovation plan for the building
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