Document background
The Agreement of Sale of Immovable Property is a fundamental document in German real estate transactions, used whenever ownership of land, buildings, or condominiums is transferred between parties. This agreement must comply with strict German legal formalities, including mandatory notarization and registration in the land register (Grundbuch). It covers essential elements such as precise property identification, purchase price, payment conditions, warranties, and specific German legal requirements like pre-emption rights and energy efficiency certificates. The document is crucial for both private and commercial property transactions and must address various aspects of German property law, including provisions from the BGB (Civil Code), GBO (Land Registration Code), and relevant tax regulations. Its preparation requires careful consideration of existing encumbrances, building regulations, and any special provisions under German law.
