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The Assignable Real Estate Contract is a specialized legal instrument designed for use in Nigerian property transactions where parties anticipate the potential need for future transfer of contractual rights. This document is particularly valuable in development projects, investment properties, or situations where the initial buyer may need to transfer their rights before completion. It combines standard real estate purchase provisions with specific assignment mechanisms, ensuring compliance with Nigerian property law, including the Land Use Act and relevant state legislation. The contract includes comprehensive details about the property, parties' rights and obligations, assignment procedures, and necessary governmental approvals, making it suitable for complex real estate transactions where flexibility in ownership transfer is desired.

1. Parties: Identification of the seller, buyer, and any other relevant parties with their full legal names and addresses

2. Background: Context of the transaction and brief description of the property being sold

3. Definitions: Definitions of key terms used throughout the contract

4. Property Details: Detailed description of the property including legal description, boundaries, and registration details

5. Purchase Price: Agreed purchase price and payment terms including deposit requirements

6. Assignment Rights: Terms and conditions under which the contract may be assigned to third parties

7. Conditions Precedent: Conditions that must be satisfied before completion can occur

8. Seller's Warranties: Warranties regarding property title, encumbrances, and other relevant matters

9. Buyer's Warranties: Warranties regarding capacity to purchase and source of funds

10. Completion: Process and requirements for completing the transaction

11. Title and Registration: Requirements for transfer of title and registration under Nigerian law

12. Default and Remedies: Consequences of default by either party and available remedies

13. Notices: Process for serving notices under the contract

14. Governing Law: Specification of Nigerian law as governing law and jurisdiction