Contract overview of the notary's office

Dr. Matthias Mlynek LL.M., MBL

Purchase contract

There is a lot to consider when buying real estate. A notary can be a competent point of contact. He can check whether the seller is also the owner of the property, whether the property is free of encumbrances or whether the property is subject to conditions. They can also advise on development plans, housing subsidies, building negotiations and neighbors' rights.

The notary can draw up a purchase agreement in which rights and obligations are regulated in addition to the purchase price. If necessary, he will arrange for the property to be released from encumbrances. In order to keep the purchase price safe, a trust agreement can be concluded with the notary. At the end, the notary can submit the land register application and transfer the purchase price deposited with him in trust to the seller.

There are many questions to consider when buying and selling real estate, for example:

• Is the seller really the owner of the property?
• Who actually monitors the complete and punctual payment of the purchase price?
• Who notifies the tax office and when?
• Is there still a mortgage on the house?

Donation

At what value should a gift be legally clarified and secured? People who want to make a gift (or receive a gift) often don't think about how useful the help of an experienced lawyer can be. In many cases, it is strongly advisable to draw up a deed of gift.

Handover

In contrast to a gift, a consideration is agreed in the case of a transfer - such as the continued provision of the transferor or a right of residence or similar. There is so much leeway here that the advice of an expert is particularly valuable. A notary can be helpful in all considerations regarding the timing of the transfer, the structure of the consideration and the regulation of pension and tax law aspects.

Before making the decision to make a gift or transfer, there are a few things to consider:

• Would I like to make a gift or give one?
• What consideration would I like to agree for myself in the event of a handover?
• Which family members need to be considered?

Calculation of real estate transfer tax

If a building (residential house, wine cellar, etc.) is donated or transferred, the real estate transfer tax must be calculated using the building value. In order to determine the building value, certain building data is required (see building value calculation sheet).