Lease Agreement (on Purchase)
A tenancy or lease over the property; on a purchase the rule "sale does not break lease" applies, so the buyer steps into the existing lease relationship.
If the property is let or leased, under Sec. 1120 ABGB the buyer generally takes over the existing lease relationship ("sale does not break lease"). He becomes the new landlord with all rights and obligations and is thus bound by the lease term, protection against termination and the agreed rent.
Before the purchase, existing leases must therefore be examined carefully: fixed terms, termination restrictions under the MRG and deposits affect usability and value. For let condominiums, condominium ownership must also be observed.
Legal basis
Statutory texts for orientation; the version in force at the relevant time prevails.
This explanation gives a general overview of Austrian law and does not replace advice in an individual case. The specific circumstances of your property purchase are always decisive.
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Condominium Ownership
The right in rem to use a condominium unit exclusively and to dispose of it alone; it is tied to a co-ownership share in the property.
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Transfer of Possession (Benefits and Burdens)
The agreed point in time from which the buyer obtains actual possession and benefits, burdens and risk pass to him.
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Easement (Servitude)
A limited right in rem to use land belonging to another, such as a right of way, a utility-line right or a right of residence.
Reviewing a contract, arranging escrow, securing handover?
When buying property, the contract and the land register decide. Call us directly or send an email, callback within one business day.
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Address
BRANDAUER Rechtsanwälte GmbH Giselakai 51 5020 Salzburg
Phone
+43 662 6280000