Building & Real Estate
We advise and support individuals and legal entities in all real estate law matters, whether buying or selling, renting or leasing private real estate, commercial real estate and residential building projects, as well as property development projects.
Cooperation and trust play a particularly important role in the real estate business, because for many it is the most important and also the largest transaction in their lives, which must be well thought out, planned and considered and therefore requires legal support. Even a developer project is not successful until the project benefits achieved are greater than the costs.
Not for nothing Confucius says: “The first house you build for your enemy the second for your friend and the third for yourself.”
Property development projects
Already in the planning stage, the overview must be maintained and strategic approaches must be pursued. Our expertise includes legal advice, drafting of property development contracts in accordance with the Property Development Contracts Act (BTVG), fiduciary execution, establishment of condominium ownership, securing purchasers in accordance with the BTVG, post-project support (e.g. in relation to leasing, automated and individual dunning strategy, as well as bringing rent and eviction actions).
Philipp Frenzl, attorney-at-law, wrote a guide on real estate law for Thomson Reuters (“Q&A guide to corporate real estate law in Austria”). This Q&A guide provides an initial general overview of real estate law and the real estate market in Austria and is available on the Thomson Reuters website: https://uk.practicallaw.thomsonreuters.com/w-015-9215.
In the past we have, among other things
- advised on the establishment of companies iZm real estate transactions and Airbnb
- Accompanied companies (“startups”) from their foundation to their first property development projects
- Advising and assisting property developers in the establishment of condominium ownership, drafting of purchase agreements for the sale of apartments (in accordance with the provisions of the Property Development Contracts Act) with a value of approximately € 15 million
- Draws up rental and lease agreements as well as building lease and super-possession agreements for developers
- Drawing up deeds that can be recorded in the land register and recording liens, encumbrances, easements and house easements
- advised on complex transaction structure in connection with a real estate project with a value of € 12 million, in which a bank consortium was also involved
- Assisted property developers, cooperatives and/or companies in bringing rent and eviction actions and in (further) developing an automated and individual dunning strategy and represented them before courts and authorities
Real estate purchase and sale
Buying or selling a property is anything but an everyday transaction. Large sums of money are involved and only a few have extensive experience. This makes it all the more important to have a competent partner at your side. We know both the market and the applicable law, we know what information has an impact on the profitability of a property, and we can help you quickly answer the following questions, among others:
- Is the property encumbered (e.g. with liens, easements or encumbrances)?
- Are there any prohibitions on alienation or rights of first refusal that make it difficult to acquire the property?
- Is the consent of third parties (corporate bodies) required?
The following further steps are required for the legally secure acquisition of the property:
- Preparation / review of the property purchase agreement;
- Takeover of trusteeship or electronically secured trustee processing;
- Registration of the new ownership in the land register (duration varies depending on the land registry court, approximately between 1 to 3 weeks);
- Registration of the new ownership in the land register (duration varies depending on the land registry court, approximately between 1 to 3 weeks);
We are happy to assist you with these tasks so that your real estate transaction is handled professionally from start to finish and any potential conflicts are well mitigated.
More info / Read more under FAQs.
In the past we have, among other things
- Advising individuals and companies on the preparation or review of the purchase offer and the purchase agreement
- assists private individuals and companies in the purchase and sale of real estate (from the initial inspection to the handover of the apartment)
- advise in connection with gifts and the drafting and negotiation of gift agreements and transfer agreements
- Drawing up rental and lease agreements as well as building lease agreements and super-estate agreements for private individuals and companies
- Advise private individuals on risks involved in the purchase and sale of properties
Real Estate Transactions
We support our clients in all phases of large-scale real estate transaction projects. Our services range from advice on project development and project financing to the tax- and profit-optimized exploitation of a real estate project (e.g. via share or asset deals).
Our service always includes legal and strategic advice, the accurate drafting of contracts, as well as the professional conduct of negotiations together with the client.
In the past we have, among other things
- advised on complex transaction structure in connection with a real estate project with a value of € 12 million, in which a bank consortium was also involved
- advising private individuals and companies on real estate financing
- advising and assisting private individuals and companies in financing the purchase and sale of various real estate properties as well as staggered registration of liens and simultaneous mortgages
- Advising and assisting shareholders and companies in granting loans to shareholders in connection with real estate projects (in particular, in order to avoid a prohibited return of contributions by a corporation to its shareholders)
- assisted a company in the construction of a super-pledged property worth € 3 million, including the creation of a lien on it
Real estate transactions
We support our clients in all phases of large-scale real estate transaction projects. Our services range from advice on project development and project financing to the tax- and profit-optimized exploitation of a real estate project (e.g. via share or asset deals).
Our service always includes legal and strategic advice, the accurate drafting of contracts, as well as the professional conduct of negotiations together with the client.
In the past we have, among other things
- advised on complex transaction structure in connection with a real estate project with a value of € 12 million, in which a bank consortium was also involved
- advising private individuals and companies on real estate financing
- advising and assisting private individuals and companies in financing the purchase and sale of various real estate properties as well as staggered registration of liens and simultaneous mortgages
- Advising and assisting shareholders and companies in granting loans to shareholders in connection with real estate projects (in particular, in order to avoid a prohibited return of contributions by a corporation to its shareholders)
- assisted a company in the construction of a super-pledged property worth € 3 million, including the creation of a lien on it
Real Estate Due Diligence
We support and advise in connection with risk assessment & risk evaluation for project financing and project developments as well as share & asset deals, buyer due diligence and vendor due diligence. Real Estate Due Diligence of the property to be purchased ensures due diligence, insightful real estate transparency, and evaluates the opportunities and risks associated with a project. However, not too much time should elapse between the real estate due diligence and the purchase, otherwise the significance of the purpose pursued will be lost. In particular, the areas of law (“Legal Due Diligence”), finance (“Financial Due Diligence”), taxes (“Tax Due Diligence”), but also construction-related factors (“Technical Due Diligence”), contaminated sites, environmental protection, etc. are examined. The focus of our consulting is on “Legal Due Diligence”. However, should specific (non-legal) expertise be required for certain subjects of investigation, we can draw on a dense network of experts.
In the past we have, among other things
- Assisted private individuals and companies in risk assessment & risk evaluation for project financing and project developments
- Advised and assisted in risk assessment & risk evaluation in the purchase and sale of various properties.
- Advising private individuals and companies on share & asset deals
- Advising and assisting shareholders and companies in granting loans to shareholders in connection with real estate projects (in particular, in order to avoid a prohibited return of contributions by a corporation to its shareholders)
General Contractor and General Contractor Agreements, Construction and Architect Contracts
Our services in this area include comprehensive legal advice as well as the review and drafting of contracts of all kinds, e.g. General Contractor and General Contractor Agreements, Total Contractor Agreements or Construction and Architect Agreements.
A characteristic feature of the general contractor agreement is that the general contractor does not perform the promised works within the framework of its own company, or does not perform them in their entirety, but in turn concludes further work contracts with subcontractors.
A total contractor is a contractor who must carry out at least a substantial part of the construction work himself, but who is entitled to subcontract all or part of the planning services (architects, civil engineers).
The so-called construction contract or building contract is a contract for work and services against payment, whereby a service (e.g. the erection of a building shell or the electrical installation) is countered by a service in return (e.g. wages under the contract for work and services).
As a rule, an architect’s contract contains elements of a contract for work and services as well as elements of an authorization contract (agency contract).
Finally, we also support and advise on the drafting of super-estate and building right contracts, easement contracts and, for example, contracts relating to wind power plants.
The focus of our activity is the detailed review and/or drafting of these contracts.
In the past we have, among other things
- assisted individuals and companies in drafting or reviewing general contractor and general transferee agreements as well as total contractor agreements
- Advise architects on the preparation or review of architectural contracts
- Assisted developers in the preparation or review of contracts for the performance of coordination and construction supervision activities.
- Advise property developers on the preparation of project management contracts
- advise on all other property-related issues
General Contractor and General Contractor Agreements, Building and Architect Contracts
Our services in this area include comprehensive legal advice as well as the review and drafting of contracts of all kinds, e.g. General Contractor and General Contractor Agreements, Total Contractor Agreements or Construction and Architect Agreements.
A characteristic feature of the general contractor agreement is that the general contractor does not perform the promised works within the framework of its own company, or does not perform them in their entirety, but in turn concludes further work contracts with subcontractors.
A total contractor is a contractor who must carry out at least a substantial part of the construction work himself, but who is entitled to subcontract all or part of the planning services (architects, civil engineers).
The so-called construction contract or building contract is a contract for work and services against payment, whereby a service (e.g. the erection of a building shell or the electrical installation) is countered by a service in return (e.g. wages under the contract for work and services).
As a rule, an architect’s contract contains elements of a contract for work and services as well as elements of an authorization contract (agency contract).
Finally, we also support and advise on the drafting of super-estate and building right contracts, easement contracts and, for example, contracts relating to wind power plants.
The focus of our activity is the detailed review and/or drafting of these contracts.
In the past we have, among other things
- assisted individuals and companies in drafting or reviewing general contractor and general transferee agreements as well as total contractor agreements
- Advise architects on the preparation or review of architectural contracts
- Assisted developers in the preparation or review of contracts for the performance of coordination and construction supervision activities.
- Advise property developers on the preparation of project management contracts
- advise on all other property-related issues
Rental and lease agreements & dunning strategy
Our services include the drafting and review of tenancy and lease agreements, in particular in connection with the assertion of rent claims, notices of termination, eviction actions and the defense against unjustified claims.
We support property developers, cooperatives and/or companies in bringing rent and eviction actions as well as in (further) developing an automated and individual dunning strategy and represent them before courts and authorities.
In the past we have, among other things
- Draws up rental and lease agreements as well as building lease and super-possession agreements for developers
- assisted a company in the construction of a super-pledged property worth € 3 million, including the creation of a lien on it
- Assisted property developers, cooperatives and/or companies in bringing rent and eviction actions and in (further) developing an automated and individual dunning strategy and represented them before courts and authorities
- Advise property developers, cooperatives and/or companies on all other property-related issues
Incorporation and cancellation of liens, (real) encumbrances or easements / ancillary costs
We will act for you in obtaining and/or preparing deeds that can be recorded in the land register, the recording of liens, encumbrances, easements, as well as house easements or the release of encumbrances in the land register.
Our support also includes advice in connection with incidental costs, which must be explained transparently before signing the purchase contract.
More info / Read more under FAQs.
In the past we have, among other things
- preparing deeds for developers that can be recorded in the land register and recording liens, encumbrances, easements, and easements on buildings
- carried out the incorporation of liens for property developers, cooperatives and/or companies within the framework of lien (container applications) with a value of more than € 50 million
- Property developers, cooperatives and/or companies iZm avoidance of fees advising a company on the construction of a € 3 million superädifikats accompanied by the creation of a lien
- Advising banks, developers and companies in relation to the preparation of trust deeds and pledge deeds and the avoidance of land registry fees or reconciliation with other properties (simultaneous mortgages).
Donation, handover & incidental costs
We support and advise on the preparation and drafting of gift and transfer agreements as well as their execution in the land register.
The incidental costs associated with the sale or purchase or donation are as follows (as of February 2023):
The real estate transfer tax may be reduced in certain cases (within the family):
More info / Read more under FAQs.
If it is intended to resell the acquired property or land immediately or within a short period of time, the court registration fee may be waived under certain circumstances (“jump registration”): Further information / Read more under FAQs.
Incidental costs can therefore be considerable depending on the amount of the purchase price of the property (or could be partially avoided) and should in any case be taken into account during planning and included in the calculation.
Professional legal advice and enforcement may be able to save significant portions of these costs. We will be happy to provide you with comprehensive advice on how to avoid fees.
In the past we have, among other things
- Advising and assisting private individuals in the preparation and drafting of gift and transfer agreements as well as their execution in the land register
- advising in the course of probate and drawing up gift and transfer agreements
- advising and assisting private individuals and companies when the acquired property or land is resold immediately or within a short period of time without an intermediate entry in the land register
- assisted a company in the construction of a super-pedestal worth € 3 million, including the preparation of a super-pedestal contract and the creation of a lien, and in the course of this advised on the avoidance of charges