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Land Contract For Sale By Owner

Land Contract For Sale By Owner Template for Germany

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Key Requirements PROMPT example:

Land Contract For Sale By Owner

"I need a Land Contract For Sale By Owner for selling my residential property in Munich, Germany, with a planned completion date of March 15, 2025, including provisions for existing tenant rights and solar panel installation permits."

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Document background
The Land Contract For Sale By Owner (Grundstückskaufvertrag) is a crucial legal document used in Germany when property owners wish to sell their real estate directly to buyers without involving a real estate agent. This approach can result in cost savings but requires careful attention to legal requirements. The document must comply with the German Civil Code (BGB) and requires mandatory notarization by a German notary public. It is commonly used for various types of real property transactions, including residential homes, commercial properties, and undeveloped land. The contract must include specific elements required by German law, such as precise property identification, purchase price, payment terms, and conditions for transfer of ownership. It also needs to address various legal requirements including land registry registration, tax obligations, and any existing encumbrances on the property.
Suggested Sections

1. Parties: Identification of seller and buyer with full legal names, addresses, and marital status (relevant for German property law)

2. Background: Context of the sale and current ownership status of the property

3. Definitions: Key terms used throughout the contract

4. Property Description: Detailed description of the property including land registry details (Grundbuch), plot number (Flurstück), and exact location

5. Purchase Price: Agreed purchase price, payment terms, and escrow arrangements

6. Transfer of Ownership: Terms for the transfer of title (Auflassung) and registration in the land registry

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

8. Possession and Risk: Date of transfer of possession (Übergabe) and allocation of risks

9. Costs and Taxes: Distribution of transaction costs, including notary fees, registration costs, and real estate transfer tax

10. Prior Rights and Encumbrances: Existing mortgages, easements, or other encumbrances and their handling

11. Notarization and Registration: Requirements for notarization and land registry registration

12. Governing Law: Confirmation of German law application and jurisdiction

Optional Sections

1. Tenant Rights: Required if the property is currently leased, addressing existing tenancy agreements

2. Building Permits: Needed if there are ongoing or pending construction projects

3. Environmental Conditions: Required if there are known environmental issues or contamination

4. Monument Protection: Necessary if the property is under historical monument protection (Denkmalschutz)

5. Right of First Refusal: Required if there are municipal or other statutory rights of first refusal

6. Financing Conditions: Include if purchase is subject to buyer obtaining financing

7. Property Management: Needed for properties with shared facilities or management agreements

8. Development Obligations: Required if there are pending development requirements or restrictions

Suggested Schedules

1. Land Registry Extract: Current certified extract from the land registry (Grundbuchauszug)

2. Property Plan: Official cadastral plan (Flurkarte) and property boundaries

3. Building Documentation: Floor plans, building permits, and technical specifications

4. Energy Certificate: Current energy performance certificate (Energieausweis)

5. Property Condition Report: Detailed description of property condition and known defects

6. Encumbrance Documentation: Details of existing mortgages, easements, or other encumbrances

7. Previous Agreements: Relevant existing contracts affecting the property

8. Payment Schedule: Detailed schedule of payment terms and conditions

Authors

Alex Denne

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

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Property
Land Registry (Grundbuch)
Purchase Price (Kaufpreis)
Completion Date (Übergabetermin)
Transfer of Ownership (Auflassung)
Encumbrances (Belastungen)
Land Registry Office (Grundbuchamt)
Notarial Deed (Notarielle Urkunde)
Cadastral Register (Kataster)
Plot Number (Flurstück)
Real Estate Transfer Tax (Grunderwerbsteuer)
Priority Notice (Auflassungsvormerkung)
Easements (Grunddienstbarkeiten)
Building Permits (Baugenehmigungen)
Right of First Refusal (Vorkaufsrecht)
Land Charge (Grundschuld)
Mortgage (Hypothek)
Possession (Besitz)
Due Date (Fälligkeitstag)
Property Boundaries (Grundstücksgrenzen)
Fixtures and Fittings (Zubehör)
Defects (Mängel)
Business Day
Completion Documents
Development Plan (Bebauungsplan)
Energy Certificate (Energieausweis)
Sales Tax (Umsatzsteuer)
Title Insurance (Eigentumsversicherung)
Land Use (Grundstücksnutzung)
Building Encumbrance (Baulast)
Clauses
Parties and Property Identification
Purchase Price
Payment Terms
Transfer of Title
Property Registration
Warranties and Representations
Property Condition
Encumbrances
Due Diligence
Risk Transfer
Possession Transfer
Costs and Taxes
Notarization
Land Registry Requirements
Pre-emption Rights
Environmental Compliance
Building Regulations
Existing Tenancies
Property Use
Utilities and Services
Insurance
Default and Remedies
Force Majeure
Notices
Governing Law
Severability
Entire Agreement
Amendment
Assignment
Dispute Resolution
Relevant Industries

Real Estate

Legal Services

Banking & Finance

Construction

Property Development

Insurance

Public Administration

Agricultural (for farmland)

Commercial Property

Residential Property

Relevant Teams

Legal

Real Estate

Property Management

Compliance

Finance

Tax

Risk Management

Corporate Development

Operations

Investment

Relevant Roles

Property Owner

Real Estate Lawyer

Notary Public

Legal Counsel

Property Manager

Real Estate Developer

Investment Manager

Property Surveyor

Tax Advisor

Compliance Officer

Title Examiner

Real Estate Portfolio Manager

Property Acquisition Manager

Corporate Real Estate Manager

Industries
Bürgerliches Gesetzbuch (BGB) - Property Law Section: Sections 873-928 of the German Civil Code covering property law, including regulations on property transfer, ownership rights, and contractual obligations in real estate transactions
Bürgerliches Gesetzbuch (BGB) - Contract Law: Sections 311-361 governing general contract formation, terms, conditions, and contractual obligations
Grundbuchordnung (GBO): German Land Registry Law regulating the registration of property ownership and changes in the land register
Beurkundungsgesetz (BeurkG): German Notarization Act requiring notarization of real estate purchase contracts
Grunderwerbsteuergesetz (GrEStG): German Real Estate Transfer Tax Act governing taxation of property transactions
Baugesetzbuch (BauGB): German Building Code affecting land use, zoning requirements, and building regulations
Wohnungseigentumsgesetz (WEG): Condominium Act, relevant if the property involves apartment ownership or shared property rights
Makler- und Bauträgerverordnung (MaBV): Regulation on real estate agents and property developers, important for private sales to ensure compliance with broker-free transaction requirements
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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