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Contract For Sale Of Land By Offer And Acceptance
"I need a Contract for Sale of Land by Offer and Acceptance for a commercial property in Lagos State, with a three-installment payment structure spread across January to March 2025, including specific provisions for obtaining Governor's consent and environmental compliance warranties."
1. Parties: Identification of the Vendor and Purchaser with full legal names and addresses
2. Background: Brief context of the transaction and confirmation of the Vendor's right to sell the property
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Description: Detailed description of the land being sold, including boundaries and registration particulars
5. Purchase Price: The agreed purchase price and payment terms
6. Payment Terms: Structure and timing of payments, including deposit and balance
7. Conditions Precedent: Conditions that must be satisfied before completion, including Governor's consent requirements
8. Vendor's Warranties: Warranties regarding title, encumbrances, and property condition
9. Completion: Terms and process for completing the transaction
10. Title Documents: Details of title documents to be handed over upon completion
11. Risk and Insurance: Allocation of risk and insurance requirements until completion
12. Default Provisions: Consequences of default by either party
13. Notices: How and where notices under the agreement must be served
14. Governing Law: Confirmation that Nigerian law governs the agreement
15. Execution: Execution blocks for all parties, including provision for attestation
1. Special Conditions: Any special conditions specific to the property or transaction
2. Development Obligations: Used when the land requires specific development within a timeframe
3. Environmental Warranties: Required for industrial or previously developed land
4. Third Party Rights: When there are existing tenants or other third-party interests
5. Planning Permissions: When specific planning permissions are required for intended use
6. Customary Rights: When the land is subject to customary rights or traditional claims
7. Multiple Installments: Detailed payment schedule when purchase price is paid in installments
8. Agent Provisions: When the transaction involves estate agents or other intermediaries
1. Property Schedule: Detailed property description, including survey plan and coordinates
2. Title Documents Schedule: List of all title documents and their details
3. Payment Schedule: Detailed breakdown of payment terms and dates
4. Encumbrances Schedule: List of any existing encumbrances or charges on the property
5. Completion Requirements: Checklist of documents and actions required for completion
6. Form of Transfer: Draft transfer document to be executed at completion
7. Due Diligence Results: Summary of property and title investigations
8. Required Consents: List of necessary governmental and regulatory consents
Authors
Real Estate
Construction
Agriculture
Industrial
Commercial Property
Residential Property
Banking and Finance
Infrastructure Development
Mining
Hospitality
Retail
Education
Healthcare
Legal
Real Estate
Compliance
Property Management
Facilities
Operations
Finance
Risk Management
Business Development
Investment
Administrative
Real Estate Lawyer
Property Manager
Land Administrator
Real Estate Agent
Property Developer
Legal Counsel
Compliance Officer
Land Surveyor
Property Valuer
Transaction Manager
Real Estate Investment Manager
Development Director
Facilities Manager
Chief Legal Officer
Real Estate Portfolio Manager
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