Austria Property Ownership

Property and ownership information is available to the public (see Section 8.9). Land registers record ownership and encumbrances on specific parcels of real property.

Austria Trade Associations

Bundesinnung der Gebaeudeverwalter, Realitaetenvermittler und Inkassoburo.

Austria Land Rights

The Austrian government retains certain rights in real property such as the right to levy property taxes, the right of escheat and the right to control the use of private property through zoning.

Austria Forms of Ownership

Corporations and partnerships may acquire, hold, and convey title to real property in Austria. There are two main types of corporations: the Aktiengesellschaft or joint stock company, and the Gesellschaft mit beschränkter Haftung or limited liability company.

Partnership forms existing in Austria include Offense Handelgesellschaft or General Partnership; Kommanditgesellschaft or limited partnership: and a special type of partnership, Stille Gesellschaft which is a partnership only between the partners and does not operate as such against third parties. In a Stille Gesellschaft there is a dormant partner who is not liable to creditors for partnerships debts.

Austria Real Estate Info Summary

Title & Contracts in Austria

Deeds in the common law sense ware unknown in Austria. Title to real property is transferred and becomes effective by a declaration of both the grantor and grantee before a notary or recording judge. Transfer of title must be entered in the land register or Grundbuch.

Conveyance after death can be made by will. If a property owner dies intestate, property will be distributed among his or her heirs at law. The transfer of real property in rural areas is subject to the approval of a local real property transfer commission.

Title to land and all real property is recorded in the Land Register. Land Registers are kept open to the public and can be relied upon under Austrian law.

Austrian civil code contains essential provisions relating to contracts. In general, all continents in order to be valid must be for a lawful purpose. Contracts can be oral or written, Austria has no statue of frauds provision. Contracts for the use of real property are subject to local laws in effect where the property is situated.

Property Taxes:

Ad valorm land taxes are levied based upon the standard tax value of the property. This tax is approximately .8% but may vary according to jurisdiction. Additionally land value taxes of approximately 1% may be levied on vacant land.

Land transfer tax is assessed on all conveyances of real property. This tax is usually 3.5% of the price paid for the property.
A tax on income is levied in Austria and there are special provision for capital gains taxes.

Land Use & Control:

The use of private property is restricted by zoning and subdivision regulations in Austria.