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German to English translations [PRO] Law/Patents - Real Estate / contract for sale of property
German term or phrase:Wag und Gefahr
from a contract for sale of an apartment in Bozen/Bolzano (Italy).
Context: Wag und Gefahr sowie Besitz gehen mit dem Tage der notariellen Durchführung des Kaufvertrages auf die neue Eigentümerin über.
Is there a standard English legalese phrase for this? "Risks and liabilities" perhaps?