DR. FRIEDRICH SCHWANK

In order to acquire property in Austria, the title of ownership has to be registered in the Austrian Land Registry. The court fee for the registration of ownership title is 1.1% of the purchase price of the property and 1.2% of the loan sum for registration of a morgage. On 20th March 2024, the National Council approved a temporary - two-year - exemption from payment of the fees for the registration of ownership title and morgages in the Austrian Land Registry

All companies use general terms and conditions (‘GTC’) in their contracts, which are usually pre-formulated by them and are intended for a large number of contracts.   This typically creates an imbalance between the company and its business partners. This is why Austrian law requires GTC clauses to meet certain criteria in order to be valid:   GTC only apply by virtue of the parties' agreement (express or implied).

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