Deed Of Sale Form

Deed Of Sale Form Template for Nigeria

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Key Requirements PROMPT example:

"I need a Deed of Sale Form for the transfer of a commercial property in Lagos, Nigeria, from my company to a corporate buyer, with completion scheduled for March 15, 2025, including specific provisions for existing tenant agreements and staged payment terms."

Document background

The Deed of Sale Form is a crucial legal instrument in Nigerian property law, used to document and effect the transfer of property ownership from one party to another. This document type is essential for both residential and commercial property transactions throughout Nigeria, requiring compliance with the Land Use Act 1978 and other relevant state-specific property laws. The deed must include specific details about the property, parties involved, consideration paid, and various warranties and covenants. It requires proper execution before witnesses, stamping at the Stamp Duties Office, and registration with the appropriate land registry. Governor's consent may also be required in certain jurisdictions. The document serves as evidence of title and is critical for maintaining proper records of property ownership and transfers in Nigeria's property system.

Suggested Sections

1. Parties: Identifies and provides full details of the Vendor/Seller and Purchaser/Buyer

2. Background: Recitals establishing the Vendor's ownership, right to sell, and intention to transfer the property

3. Definitions: Defines key terms used throughout the deed including Property, Completion Date, Purchase Price, etc.

4. Agreement to Sell: Clear statement of the Vendor's agreement to sell and the Purchaser's agreement to buy the property

5. Purchase Price: States the agreed purchase price and payment terms including deposit and balance payment details

6. Property Title and Warranties: Vendor's warranties regarding clear title, no encumbrances, and right to sell

7. Completion: Details of the completion process, timing, and requirements for transfer of title

8. Possession: Terms regarding when and how possession will be given to the Purchaser

9. Execution: Formal execution clause with witness requirements as per Nigerian law

10. Attestation: Witness signatures and details as required for deed validity

Optional Sections

1. Mortgage Details: Required when the property is subject to an existing mortgage or the purchase is financed through a mortgage

2. Third Party Consents: Needed when the property transfer requires consent from government authorities or other parties

3. Environmental Warranties: Important for industrial properties or land with potential environmental concerns

4. Planning Permissions: Required when the property involves specific zoning or development considerations

5. Service Charges: Necessary for properties within estates or those subject to maintenance agreements

6. Tax Provisions: Special tax considerations or arrangements between parties regarding property taxes

7. Dispute Resolution: Optional alternative dispute resolution mechanisms specific to the transaction

Suggested Schedules

1. Property Description Schedule: Detailed description of the property including boundaries, measurements, and plans

2. Title Documents Schedule: List of all title documents and evidence of ownership

3. Payment Schedule: Detailed breakdown of payment terms and installments if applicable

4. Inventory Schedule: List of fixtures, fittings, or other items included in the sale

5. Property Certificate Schedule: Copies of relevant certificates, permits, and approvals

6. Land Use Approvals: Copies of necessary government consents and approvals

7. Survey Plan: Official survey plan and property measurements

Authors

Alex Denne

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

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Real Estate

Banking and Finance

Construction

Agriculture

Industrial Manufacturing

Retail

Hospitality

Healthcare

Education

Energy and Mining

Transportation and Logistics

Relevant Teams

Legal

Real Estate

Compliance

Operations

Facilities Management

Risk Management

Corporate Secretariat

Business Development

Investment

Property Development

Asset Management

Relevant Roles

Legal Counsel

Property Manager

Real Estate Manager

Compliance Officer

Land Administrator

Contract Manager

Corporate Secretary

Facilities Manager

Risk Manager

Business Development Manager

Investment Analyst

Property Developer

Asset Manager

Operations Director

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Let's create your Deed Of Sale Form

Authors

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