Proprietorship (Section B)

1. Proprietorship or class of title


Main right / Primary real right:
 OWNERSHIP
Local nomen iuris: Eigentum
Definition: Everything that belongs to somebody (§ 353 Civil Code)

Main right / Primary real right: CO-OWNERSHIP
Local nomen iuris: Miteigentum
Definition: More than one owner on an immovable property – expressed by percentage.

Main right / Primary real right: PUBLIC DOMAIN
Local nomen iuris: Öffentlichtes Gut
Definition: Properties that are designed and designated for public use – and publicly administrated.

Main right / Primary real right: POSSESSION
Local nomen iuris: Besitz
Definition: Possession is the holding or tenure of a thing with the intention to become full owner.

Main right / Primary real right: TIMESHARE
Local nomen iuris: Teilzeit Wohnrecht
Definition: Not part of Austrian legislation.

Main right / Primary real right: ADMINISTRATIVE CONCESSION
Local nomen iuris:
Definition: Not part of Austrian legislation.

 

2. Information on owners

2.1 If owners are natural persons, information of the owner or proprietor or holder of the main right registered will usually comprise the following:

– Name of the owner (first name, surname) in the way governed by national legislation.
– Date of birth.
– Address.

However, normally there should not to be expected that information includes neither ID of the owner, nor other identification number (passport, driving license, public health system number), nor the person to whom the owner is married when acquisition is for the marriage or for matrimonial community of goods, nor the person to whom the owner is married in any case, nor civil status, nor owner’s e-mail or telephone.

2.2 In the event that the owner or proprietor is a company or legal person, information will usually include:

1. Name of the company.
2. Registered office.
3. Registration number.
4. Business address.

And it will not include other data such as ID of the company, date and place of registration, telephone or e-mail.

 

3. Entitlement

Information of the Austrian land register system usually includes references to the:

  1. Entitlement or substantial entitlement, act or contract which is basis of the acquisition for the proprietor.

 

4. Restrictions

Information of the Austrian land register system usually includes the existence of restrictions on the person of the owner stemming from insolvency or affecting the authority of disposal when they have been registered, procurements, selling restrictions and beneficiary substitution.

With respect to the information on restrictions on the person of the owner, existence conditions antecedent or subsequent will be also included in Section B.

In Austria, there’re no trusts.

 

5. Price

LR information includes the price of acquisition of the property upon request of any user.