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Deed Of Sale Of Inherited Property
"I need a Deed of Sale of Inherited Property for a residential property in Lagos, Nigeria that I inherited through my father's will, which I'm selling to a private buyer for ���75 million, with completion planned for March 2025."
1. Parties: Identification of the Vendor(s) (inherited property owners) and Purchaser(s), including their full names, addresses, and capacity to contract
2. Background: Recitals establishing how the property was inherited, reference to death certificate, probate/letters of administration, or customary declaration of inheritance
3. Definitions: Definitions of key terms used throughout the deed, including Property, Purchase Price, Completion Date, etc.
4. Evidence of Inheritance: Detailed declaration of the vendor's inheritance rights and supporting documentation
5. Property Description: Comprehensive description of the property being sold, including boundaries, measurements, and registration particulars
6. Consideration: Statement of the purchase price and payment terms
7. Vendor's Covenants: Warranties regarding inheritance rights, title, and authority to sell
8. Title Guarantee: Warranties about the quality of title being transferred
9. Completion Requirements: Details of what must occur at completion, including payment and document handover
10. Registration and Consent: Provisions regarding obtaining necessary governmental consents and registration requirements
11. Execution: Formal execution clause meeting requirements for a deed under Nigerian law
1. Customary Law Compliance: Required when the property was inherited under customary law, detailing compliance with relevant traditional practices
2. Sharia Law Compliance: Required for properties in northern Nigeria where Islamic law applies to the inheritance
3. Co-heirs' Consent: Required when there are multiple inheritors of the property
4. Family Member Acknowledgment: Optional section for documenting family members' awareness of the sale, particularly important under customary law
5. Tax Clearance: Optional section confirming payment of any inheritance taxes or property taxes
6. Power of Attorney: Required when any party is acting through an attorney
1. Schedule 1 - Property Details: Detailed property description, including survey plans and land registration details
2. Schedule 2 - Inheritance Documents: Copies of death certificate, probate/letters of administration, or customary court judgments
3. Schedule 3 - Title Documents: List and copies of all relevant title documents
4. Schedule 4 - Consent Requirements: List of required governmental and customary consents
5. Appendix A - Family Tree: Documentation showing the vendor's relationship to the deceased and rights of inheritance
6. Appendix B - Declaration of Co-heirs: Where applicable, declarations from other potential inheritors confirming their consent to the sale
Authors
Real Estate
Property Development
Legal Services
Banking and Finance
Construction
Urban Development
Property Investment
Estate Management
Land Administration
Legal
Real Estate
Property Management
Compliance
Land Administration
Title Registration
Conveyancing
Property Development
Investment
Risk Management
Real Estate Lawyer
Property Manager
Estate Agent
Legal Counsel
Conveyancing Lawyer
Land Registry Officer
Property Developer
Real Estate Investment Manager
Compliance Officer
Title Research Specialist
Property Rights Consultant
Estate Administrator
Land Administrator
Property Transaction Manager
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