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Property Buy Sell Agreement

Property Buy Sell Agreement Template for Germany

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Key Requirements PROMPT example:

Property Buy Sell Agreement

"I need a Property Buy Sell Agreement under German law for the purchase of a mixed-use commercial property in Berlin, which includes existing retail tenants and requires environmental compliance certification, with completion planned for March 2025."

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Document background
The Property Buy Sell Agreement is a fundamental legal instrument in German real estate transactions, essential for any transfer of real property ownership. This document is required whenever real estate is bought or sold in Germany, whether for residential, commercial, or industrial purposes. It must be notarized according to German law and contains all necessary elements for legal property transfer, including precise property details, purchase price, payment terms, and conditions for registration in the land registry (Grundbuch). The agreement ensures compliance with German property law requirements, including the Civil Code (BGB) provisions for real estate transactions, and addresses crucial aspects such as warranties, encumbrances, and tax obligations. It serves as the primary document for executing the property transfer and protecting the interests of both buyers and sellers.
Suggested Sections

1. Parties: Identification and details of the seller(s) and buyer(s), including full legal names, addresses, and marital status if relevant

2. Background: Context of the transaction and brief description of the property being sold

3. Definitions: Key terms used throughout the agreement

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

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

6. Due Diligence Results: Confirmation of property inspection and disclosed conditions

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

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

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

10. Possession and Risk Transfer: Date and conditions for transferring possession and associated risks

11. Pre-emption Rights: Confirmation regarding any existing pre-emption rights (Vorkaufsrechte)

12. Notarization and Registration: Provisions regarding notarization requirements and land registry registration

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

14. Execution: Signature requirements and notarization statement

Optional Sections

1. Financing Conditions: Include when purchase is subject to mortgage or financing approval

2. Tenant Provisions: Include when property is sold with existing tenants, addressing rental agreements

3. Construction Requirements: Include when property includes unfinished construction or requires specific building obligations

4. Environmental Provisions: Include when property has known environmental issues or requirements

5. Monument Protection: Include when property is under monument protection (Denkmalschutz)

6. Agricultural Land Provisions: Include when property includes agricultural land subject to special regulations

7. Condominium Association Rules: Include for apartment/condominium sales (WEG)

8. Defects and Renovation Agreement: Include when specific known defects exist or renovations are agreed upon

Suggested Schedules

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

2. Property Plan: Official cadastral plan and property boundaries

3. Energy Certificate: Energy performance certificate (Energieausweis)

4. Property Inventory: List of included fixtures, fittings, and other items

5. Building Permits: Copies of relevant building permits and certificates

6. Encumbrances List: Detailed list of existing encumbrances and easements

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

8. Property Photographs: Documentary photographs of property condition at sale

9. Technical Due Diligence: Reports on building condition, surveys, and inspections

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
Agreement
Property
Land Registry
Grundbuch
Purchase Price
Closing Date
Completion Date
Transfer Date
Auflassung
Encumbrances
Business Day
Due Diligence
Effective Date
Fixtures and Fittings
Land Charge
Grundschuld
Material Adverse Change
Notarial Deed
Permitted Use
Property Rights
Purchase Deed
Real Estate Transfer Tax
Grunderwerbsteuer
Registration Requirements
Seller's Warranties
Title Documents
Transfer of Ownership
Utilities
Vacant Possession
Vorkaufsrecht
Building Permits
Cadastral Register
Completion Conditions
Defects
Energy Certificate
Existing Tenancies
Hidden Defects
Intellectual Property Rights
Property Taxes
Signing Date
Transaction Documents
Clauses
Identification of Parties
Property Description
Purchase Price
Payment Terms
Transfer of Title
Notarization Requirements
Land Registry Registration
Warranties and Representations
Due Diligence
Property Condition
Encumbrances
Pre-emption Rights
Risk Transfer
Possession Transfer
Tax Obligations
Cost Allocation
Property Insurance
Environmental Compliance
Building Permits
Existing Tenancies
Utilities Transfer
Default and Remedies
Force Majeure
Notices
Assignment
Severability
Entire Agreement
Governing Law
Dispute Resolution
Confidentiality
Anti-Money Laundering
Amendments
Further Assurance
Survival
Time of Essence
Relevant Industries

Real Estate

Banking and Finance

Legal Services

Construction

Property Development

Asset Management

Commercial Property

Residential Property

Agriculture

Industrial

Retail

Hospitality

Healthcare

Education

Relevant Teams

Legal

Real Estate

Finance

Compliance

Risk Management

Asset Management

Property Management

Business Development

Investment

Operations

Corporate Development

Facilities Management

Relevant Roles

Real Estate Manager

Property Developer

Legal Counsel

Corporate Lawyer

Real Estate Agent

Property Manager

Asset Manager

Investment Manager

Facilities Manager

Construction Manager

Real Estate Analyst

Chief Financial Officer

Real Estate Director

Compliance Officer

Risk Manager

Portfolio Manager

Acquisition Manager

Development Director

Industries
Bürgerliches Gesetzbuch (BGB) §§ 433-479: German Civil Code sections on purchase agreements, covering basic contractual obligations, rights, and responsibilities of buyers and sellers
BGB §§ 873, 925: Specific provisions regarding the transfer of real property ownership (Auflassung) and registration requirements
Grundbuchordnung (GBO): German Land Registry Act governing the registration of property ownership and encumbrances in the land register
Beurkundungsgesetz (BeurkG): German Notarization Act requiring notarization of real estate purchase agreements
Grunderwerbsteuergesetz (GrEStG): German Real Estate Transfer Tax Act governing taxation aspects of property transactions
Makler- und Bauträgerverordnung (MaBV): Regulation on real estate agents and property developers, relevant if intermediaries are involved
Wohnungseigentumsgesetz (WEG): Condominium Act, applicable if the property involves apartment ownership
Energieeinsparverordnung (EnEV): Energy Saving Ordinance requiring energy performance certificates for property transactions
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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