Grundbesitz#

Real property or land possession (in Austrian law: Grundbesitz), tenure of land with the intention to keep all possessory rights. In Austrian every-day usage, the term "Grundbesitz" (land possession) is often used to describe "Grundeigentum", i.e. land ownership ( Property, Land Register). Apart from the right of ownership, other possible interests in land include Servitude, encumbrances, right of lien and Construction, Legal Aspects Of. Land conveyance is regulated under special land conveyance laws, stating that all legal transactions in agricultural and forest lands have to be authorised by the "Grundverkehrskommission" (land conveyance commission, a collegiate provincial authority). The acquisition of land by foreigners is also subject to the same authorisation. The possession of land in Austria is subject to Real Property Tax, the acquisition of land to Land Acquisition Tax.