Whether it’s a condominium, a single-family home or a plot of land: anyone who buys a property in Austria must be entered in the land register. Only then are you considered the rightful owner. But even before the purchase, it is advisable to take a look at the land register of the desired property, here you will find important information.
Rights and Burdens
The land register is a public directory of all properties and their owners. Nowadays this is kept electronically by the district courts and it is no longer a book in the strict sense. In addition to the property rights, other rights and encumbrances associated with the property are registered. These include, for example, building rights: Who is allowed to set up a building on this property? There is also information on home ownership: Who owns properties that have already been built? There may be a right of first refusal or a prohibition on sale.
Attention lien
The entry on liens is particularly important. Because it could be that this land or property is encumbered with a mortgage from a financial institution. The potential buyer should also be aware of any easements, so-called servitudes. These are rights of use on the property for non-owners, for example the right to use a path.
Anyone can see
Access to the land register is possible for everyone. The land register query can be done online. The data are available from agencies authorized by the Federal Ministry of Justice. There are fees for this query: A current extract from the land register, i.e. a full query of a deposit number, costs 3.76 euros. An excerpt from the land register can also be requested from the notary or the district court.
Due Fees
Back to the purchase of real estate: A fee of 1.1 percent of the purchase price has to be paid for the entry of the residential property right in the land register, the so-called registration. If a mortgage has to be taken out at the same time, then you also have to pay for registering the lien. Once the loan has been paid off, the lien can be deleted from the land register. There are also fees for this.
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