Maturity of the Purchase Price
The point at which the buyer must pay the purchase price; in a property purchase usually tied to securing the unencumbered transfer of ownership.
Unlike an immediate step-by-step exchange, maturity of the purchase price in a property purchase is tied to security steps: the buyer pays into the escrow account only once the ranking order has been noted and the contract has been drawn up in registrable form.
The escrow agent releases the purchase price only once the conditions for the unencumbered registration are met. This minimises the buyer’s payment risk.
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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Escrow Agent (Treuhänder)
An independent person of trust (usually a lawyer or notary) who holds the purchase price and releases it only once the agreed safeguards are in place.
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Discharge of Encumbrances
The removal of existing register burdens so that the buyer receives an unencumbered property, in particular the deletion of mortgages.
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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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Condition Precedent
A contractual provision under which the effects of the purchase contract arise only once a future uncertain event occurs.
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