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Deed Of Sale Motor Vehicle Template for Nigeria

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Key Requirements PROMPT example:

Deed Of Sale Motor Vehicle

"I need a Deed of Sale Motor Vehicle for selling my Toyota Camry 2020 to a private buyer in Lagos, Nigeria, with full payment to be made in cash at completion on March 15, 2025."

Document background
A Deed Of Sale Motor Vehicle is a crucial legal instrument used in Nigeria when transferring ownership of a vehicle from one party to another. This document is essential for both private and commercial vehicle sales, providing a legally binding record of the transaction and protecting the interests of both buyer and seller. It must comply with Nigerian federal and state regulations regarding vehicle transfers, including the Federal Road Safety Commission requirements and state vehicle registration laws. The deed typically includes comprehensive details about the vehicle, parties involved, purchase price, warranties, and transfer terms. It's particularly important for establishing clear title to the vehicle and is often required by registration authorities, insurance companies, and financing institutions as proof of ownership transfer.
Suggested Sections

1. Parties: Identifies and provides full details of the Seller and Buyer, including names, addresses, and contact information

2. Background: Brief context explaining the Seller's ownership and intention to sell, and Buyer's intention to purchase

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

4. Vehicle Details: Comprehensive description of the vehicle including make, model, year, color, engine number, chassis number, and registration number

5. Sale and Purchase: Core terms of the sale including the agreement to sell and purchase

6. Purchase Price: States the agreed purchase price and payment terms

7. Completion: Details of when and how the transfer of ownership will be completed

8. Seller's Warranties: Warranties regarding vehicle ownership, condition, and absence of encumbrances

9. Transfer of Title: Process and obligations regarding the transfer of vehicle title and registration

10. Risk and Insurance: Specifies when risk passes to the buyer and insurance requirements

11. Governing Law: Specifies that Nigerian law governs the deed

12. Execution: Formal execution clause and signature blocks for parties and witnesses

Optional Sections

1. Condition Report: Detailed description of vehicle's current condition and any known defects - used when selling used vehicles

2. Payment in Installments: Terms for installment payments - included when full payment isn't made upfront

3. Security Interest: Creates security interest in favor of seller - used when payment is in installments

4. Vehicle History: Details of previous owners and maintenance history - relevant for used vehicles

5. Arbitration: Dispute resolution through arbitration - optional alternative to court litigation

6. Power of Attorney: Authorization for completion of registration transfer - used when seller cannot be present

Suggested Schedules

1. Schedule 1 - Vehicle Specification: Detailed technical specifications and features of the vehicle

2. Schedule 2 - Vehicle Documents: List of all documents being transferred with the vehicle (registration, insurance, maintenance records, etc.)

3. Schedule 3 - Vehicle Inspection Report: Independent vehicle inspection report if applicable

4. Schedule 4 - Payment Schedule: If payment is in installments, detailed payment schedule with dates and amounts

5. Appendix A - Photographs: Photographs of the vehicle documenting its condition at time of sale

6. Appendix B - Registration Documents: Copies of current registration documents and plates

Authors

Alex Denne

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

Relevant legal definitions


































Clauses




























Relevant Industries

Automotive

Transportation

Fleet Management

Vehicle Leasing

Car Dealership

Insurance

Banking and Finance

Logistics

Private Transportation

Public Transportation

Corporate Services

Relevant Teams

Legal

Procurement

Sales

Administration

Compliance

Operations

Risk Management

Fleet Operations

Commercial

Finance

Asset Management

Relevant Roles

Fleet Manager

Legal Counsel

Procurement Manager

Sales Manager

Compliance Officer

Administrative Officer

Vehicle Registration Officer

Contract Administrator

Business Development Manager

Operations Manager

Risk Manager

Transport Manager

Commercial Director

Vehicle Assets 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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