Purchase Agreement

In some cases buyer and seller seek advice in advance from their notary in order to adapt the contract to their own requirements before they sign a legally binding document. 

Purchase Offer

In some purchase contracts both parties make a bid before signing the actual sales contract. This bid is legally binding if all important points of the sale are covered. 

Trusteeship

As a trustee the notary will safe-keep all assets and documents. He/she commits to conducting legal consequences and effects (e.g. land register entries) as defined in the trusteeship agreement, to fulfil conditions and to disburse the trusteeship goods.

The Notary Bank (NTB) is a special bank for the administration of trusteeship money. There is only trusteeship money in the bank. The notary system has established a special computer-based register to carry out trustee transactions quickly and reliably, the Notary Trusteeship Register (THR).

Deed of Gift and Transfer

A deed of gift is a signed document that voluntarily and without recompense transfers ownership of real estate. It is important to differentiate between deeds of gift that become effective immediately or only after the death of the donor. If the deed of gift becomes effective immediately, it is important for the donor to specify what the donee is allowed to do with the property, especially if he/she will be allowed to encumber or sell the property during the life of the donor.

If, in addition to the prohibition to encumber or sell, other conditions, such as a life-long right of residence, a usufruct, or life estate are agreed upon, we are talking of a transfer agreement.

Deed of Gift Effective after Death

A compromise between a will that is revocable at any time and a deed of gift is the so called “deed of gift effective after the donor’s death”.

The donor promises to transfer his/her real estate properties without recompense to the donee becoming effective after the donor’s death. The donor is bound to the deed of gift because it is a mutually binding contract.

A compromise between a will that is revocable at any time and a deed of gift is the so called “deed of gift effective after the donor’s death”.
The donor promises to transfer his/her real estate properties without recompense to the donee becoming effective after the donor’s death. The donor is bound to the deed of gift because it is a mutually binding contract.

Real Estate Contract

A real estate contract sets out the legal relations between parties for purchase and sale of real estate. A real estate contract grants each co-owner the right to exclusive use of a certain apartment, a parking space or any other space. It is important for daily coexistence that the real estate contract is well thought through and adapted to the actual conditions. The real estate contract can include regulations concerning the distribution of special expenses, administration of the property or the use of the common areas on the property. The notary as an independent drafter of the contract is your best choice in these matters. 

Real Estate Development Agreement

If the purchase price is to be paid to the seller/developer before the building is finished, the conditions for payment have to comply with development contract law. Very often the contractual agreement under the law of obligations is ensured by appointing a trustee (notary) and the purchase price is paid in instalments according to building progress (payment plan A or B). The real estate development agreement is beneficial for the purchaser as well as for the property developer because the trust ensures a high level of security and easier financing of the development.