Award
Court decision by which the auctioned property is awarded to a specific buyer.
Definition and context: The award is the court decision identifying the buyer of the auctioned property. It is usually found in the auction minutes and the award order. Section 190 of the Enforcement Act narrowly connects it with possible interim administration.
Role question: Buyers need to establish what the specific award order records and which auction conditions still require proof. The buyer role hub and the buyer checklist keep the order, court file and personal planning separate.
Distinction: The award is not the same as the highest bid, physical handover or an individual land register entry. Section 237 of the Enforcement Act narrowly governs the evidence for registration applications and the point at which unassumed encumbrances may be deleted; it does not support blanket consequences.
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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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Highest bid
Highest bid submitted for the property during the court auction hearing.
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Judicial auction
Court enforcement proceeding in which land, a superstructure or a building right is realised to enforce an enforceable monetary claim.
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Distribution mass
Money dealt with in the court distribution proceeding after the auction to satisfy eligible claims.
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