Land register
Public register of ownership, encumbrances and rights over real estate in Austria.
The land register is public under section 7 GBG. Under section 4 GBG, the acquisition, transfer, restriction and cancellation of registered rights are effected by entry in the main register.
Review question: Which entries and annotations appear in the current extract, and does that register status match the auction file and auction conditions? The extract alone does not justify a blanket statement on the survival, extinction or rank of a right.
For creditors, the creditor file matrix separates title, security and enforcement file. Buyers can record the land register, edict and valuation separately in the buyer checklist.
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This explanation gives a general overview of Austrian law and does not replace a lawyer’s examination of the individual case.
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Mortgage
Security right in rem permitting satisfaction from an asset if the secured obligation is not performed.
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Rank
Land-register priority of an entry, which must be distinguished from the statutory order of distribution.
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Encumbrance
Collective term for burdens on a property whose treatment depends on the type of right, rank and auction file.
Questions about an upcoming auction?
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A direct line to the firm.
Address
BRANDAUER Rechtsanwälte GmbH Giselakai 51 5020 Salzburg
Phone
+43 662 6280000