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Unimproved Property Contract
"I need an Unimproved Property Contract for purchasing a 5-hectare industrial plot in Munich, Germany, with specific provisions for environmental assessment and future commercial development rights, planned for completion by March 2025."
1. Parties: Identification and details of the seller and purchaser, including full legal names, addresses, and registration details for legal entities
2. Background: Context of the transaction and brief description of the property being sold
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Description: Detailed description of the unimproved property including land registry details, parcel numbers, size, and boundaries
5. Purchase Price: Specification of the purchase price, payment terms, and escrow arrangements
6. Due Diligence: Seller's warranties regarding the property and buyer's investigation rights
7. Conditions Precedent: Conditions that must be fulfilled before completion, including obtaining necessary permits and clearances
8. Completion: Process and requirements for completing the transaction, including notarization requirements
9. Transfer of Title: Provisions regarding the transfer of ownership and registration in the land register
10. Taxes and Costs: Allocation of transaction costs, taxes, and fees between parties
11. Representations and Warranties: Standard warranties regarding property ownership, encumbrances, and condition
12. Default and Remedies: Consequences of breach and available remedies
13. Notices: Communication requirements and contact details
14. Governing Law and Jurisdiction: Confirmation of German law application and jurisdiction
1. Environmental Conditions: Required when there are known or potential environmental issues or contamination
2. Development Rights: Include when specific building or development rights need to be addressed
3. Access Rights: Necessary when the property requires access through neighboring land
4. Mineral Rights: Include when mineral rights are being retained or transferred
5. Pre-emption Rights: Required when there are existing pre-emption rights or when creating new ones
6. Broker Provisions: Include when real estate brokers are involved in the transaction
7. Future Development Obligations: Required when there are specific development requirements or restrictions
8. Agricultural Subsidies: Include for agricultural land with existing subsidy arrangements
1. Property Plan: Official cadastral plan showing property boundaries and dimensions
2. Land Registry Extract: Current extract from the land register (Grundbuchauszug)
3. Soil Investigation Report: Results of any soil investigations or contamination assessments
4. Planning Documentation: Relevant zoning and planning certificates or permits
5. Property Tax Assessment: Current property tax assessment and payment status
6. Utility Plans: Plans showing available utility connections or easements
7. Title Documentation: Historical title documents and encumbrance certificates
8. Power of Attorney: If required for either party's representatives
Authors
Real Estate
Property Development
Construction
Agriculture
Commercial Property
Industrial Development
Urban Planning
Environmental Services
Legal Services
Investment & Finance
Legal
Real Estate
Property Development
Investment
Compliance
Finance
Environmental
Project Management
Corporate Development
Due Diligence
Real Estate Manager
Property Developer
Legal Counsel
Investment Manager
Land Acquisition Specialist
Environmental Compliance Officer
Property Surveyor
Real Estate Agent
Development Director
Project Manager
Corporate Lawyer
Due Diligence Specialist
Real Estate Investment Analyst
Urban Planning Consultant
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