The Agreement of Property Sale is a fundamental legal document used in Danish real estate transactions to formalize the transfer of property ownership. This document is essential for any property transaction in Denmark, whether residential or commercial, and must comply with Danish property law, including the Registration of Property Act and relevant planning regulations. The agreement typically includes comprehensive details about the property, purchase terms, warranties, and completion requirements. It serves as the primary contract between seller and buyer, establishing their rights and obligations, and forms the basis for property registration with the Danish Land Registry. The document is particularly important as it must incorporate specific Danish legal requirements such as energy performance certificates and proper property registration procedures.
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Key Requirements PROMPT example:
Agreement Of Property Sale
I need an Agreement of Property Sale for a straightforward residential property transaction in Copenhagen, Denmark, with completion scheduled for March 15, 2025, where the buyer will be taking out a standard mortgage and the property is being sold with vacant possession.
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1. Parties: Identification of the seller and purchaser with full legal names, addresses, and registration numbers if applicable
2. Background: Context of the sale and brief description of the property being sold
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Description: Detailed description of the property including address, land registry details, and cadastral number
5. Purchase Price: Agreed purchase price, payment terms, and deposit requirements
6. Payment Terms: Detailed payment schedule, method of payment, and escrow arrangements
7. Condition of the Property: Current state of the property, any known defects, and 'as-is' provisions
8. Title and Registration: Confirmation of title, encumbrances, and registration process
9. Completion: Completion date, requirements, and mechanics of the transfer
10. Seller's Warranties: Standard warranties regarding ownership, encumbrances, and property condition
11. Transfer of Risk: When risk passes from seller to buyer and insurance requirements
12. Costs and Taxes: Allocation of transaction costs, registration fees, and property taxes
13. Notices: How formal notices between parties should be given
14. Governing Law and Jurisdiction: Confirmation of Danish law and jurisdiction
15. Signatures: Execution blocks for all parties
1. Mortgage Arrangements: Required when the purchase involves mortgage financing or existing mortgages need to be discharged
2. Tenant Rights: Required when the property is sold with existing tenancies
3. Environmental Provisions: Required when there are known environmental issues or specific environmental warranties needed
4. Development Rights: Required when the property has specific development potential or restrictions
5. Property Management: Required when there are ongoing management contracts or service agreements
6. Pre-emption Rights: Required when there are existing pre-emption rights or new ones being created
7. Fixtures and Fittings: Required when specific items are included or excluded from the sale
8. Construction Warranties: Required for new properties or recent construction work
9. VAT Election: Required when the property transaction is subject to VAT
1. Property Details: Detailed technical description of the property including boundaries, measurements, and included land
2. Title Documents: List of all relevant title documents and registered encumbrances
3. Property Searches: Results of official property searches and registrations
4. Energy Performance Certificate: Mandatory energy performance documentation
5. Property Inspection Report: Technical survey and condition report
6. Fixtures and Fittings List: Detailed inventory of items included in the sale
7. Environmental Reports: Any environmental surveys or contamination reports
8. Planning Documents: Relevant planning permissions and restrictions
9. Building Plans: Floor plans and technical drawings of the property
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Relevant Teams
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Finance
Compliance
Risk Management
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Relevant Roles
Real Estate Lawyer
Property Manager
Real Estate Agent
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Commercial Director
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Investment Manager
Facilities Manager
Compliance Officer
Risk Manager
Asset Manager
Real Estate Broker
Property Valuation Specialist
Transaction Manager
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