Document background
The Conditional Deed of Sale is a crucial legal instrument in Nigerian property transactions, designed to protect both vendors and purchasers in situations where certain conditions must be met before the sale can be completed. This document type is particularly relevant when dealing with property transfers that require governmental approvals, outstanding payments, or specific actions to be completed before final transfer. The deed must comply with Nigerian federal and state property laws, including the Land Use Act of 1978, and typically includes detailed property descriptions, conditions precedent, payment terms, and completion requirements. It's commonly used in both commercial and residential property transactions where immediate transfer is not possible or desired, providing a legally sound framework for conditional property sales while ensuring all regulatory requirements are met.
