Document background
The Deed of Purchase (Kaufvertrag) is a fundamental legal document used in German property transactions to facilitate the transfer of ownership of real estate or significant assets. It is essential for any property purchase transaction in Germany, whether residential, commercial, or industrial. The document must be notarized to be legally valid and serves as the basis for registration in the land registry (Grundbuch). It includes comprehensive details about the property, parties involved, purchase price, payment terms, warranties, and specific conditions of the transfer. This document type is governed by German law, particularly the German Civil Code (BGB), and must comply with strict formal requirements to ensure legal certainty and protect both parties' interests. It is typically prepared by a notary who also ensures that all legal requirements are met and that the parties understand their rights and obligations.
