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Assignment Of Lease Deed Template for Nigeria

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Key Requirements PROMPT example:

Assignment Of Lease Deed

"I need an Assignment of Lease Deed for transferring my commercial warehouse lease in Lagos Industrial Estate to ABC Manufacturing Ltd, with the assignment to take effect from March 1, 2025; the original lease has 15 years remaining and includes specialized manufacturing permit conditions that need to be transferred."

Document background
The Assignment Of Lease Deed is a crucial document in Nigerian property transactions, used when a lessee wishes to transfer their leasehold interest to another party. This document is essential in various contexts, from commercial property transfers to residential lease assignments. It must comply with the Land Use Act 1978 and other relevant Nigerian property laws, requiring formal governor's consent for validity. The deed includes comprehensive details about the original lease, property description, parties involved, and terms of assignment. It's particularly important in situations involving corporate relocations, business expansions, or when individuals need to transfer their lease rights. The document provides security for all parties by clearly defining the transfer of rights and obligations, ensuring compliance with local regulations, and establishing a clear chain of title.
Suggested Sections

1. Parties: Identification of the Assignor (current lessee), Assignee (new lessee), and where applicable, the original Lessor's details

2. Background: Recitals detailing the original lease, its registration details, and the intention to assign the lease

3. Definitions: Definitions of key terms used throughout the deed including 'Lease', 'Property', 'Assignment Date', etc.

4. Assignment: The operative clause that effects the transfer of the lease from Assignor to Assignee

5. Consideration: Details of the payment or other consideration for the assignment

6. Assignor's Covenants: Warranties and representations by the Assignor regarding their right to assign and the status of the lease

7. Assignee's Covenants: Undertakings by the Assignee to comply with lease terms and indemnify the Assignor

8. Completion: Details of the completion process, including timing and delivery of documents

9. Governor's Consent: Provisions relating to obtaining necessary consent under the Land Use Act

10. Registration: Requirements for registration of the assignment at the lands registry

11. Execution: Formal execution block for all parties

Optional Sections

1. Lessor's Consent: Required if the original lease requires explicit consent from the Lessor for assignment

2. Outstanding Payments: Include when there are any rent arrears or other payments to be addressed

3. Security Deposit: Required when there is a security deposit to be transferred or dealt with

4. Service Charge Provisions: Include for commercial properties with service charge arrangements

5. Break Clause: Include if any special break rights are to be assigned or modified

6. Environmental Provisions: Required for industrial or potentially contaminated properties

7. Planning Permissions: Include when the property use depends on specific planning permissions

Suggested Schedules

1. Schedule 1 - Property Description: Detailed description of the property including boundaries and plan

2. Schedule 2 - Original Lease: Copy or summary of the original lease terms and conditions

3. Schedule 3 - Outstanding Matters: List of any pending obligations, repairs, or other matters to be addressed

4. Appendix A - Property Plans: Plans and drawings of the property

5. Appendix B - Photographs: Current photographs of the property condition

6. Appendix C - Consent Documents: Copies of relevant consents (Governor's, Lessor's, etc.)

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓÆµ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions






























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Relevant Industries

Real Estate

Commercial Property

Industrial

Retail

Hospitality

Healthcare

Education

Manufacturing

Warehousing

Office Space

Residential Property

Relevant Teams

Legal

Real Estate

Facilities Management

Operations

Finance

Compliance

Risk Management

Property Administration

Corporate Affairs

Relevant Roles

Real Estate Manager

Property Manager

Legal Counsel

Corporate Lawyer

Facilities Manager

Operations Director

Chief Financial Officer

Company Secretary

Real Estate Director

Lease Administrator

Property Administrator

Compliance Officer

Risk Manager

Asset Manager

Industries






Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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