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The Deed Of Sale Of Motor Vehicle Company Owned is a specialized legal instrument used in Nigeria when a company wishes to transfer ownership of a vehicle to another party. This document is essential for ensuring proper documentation and legal compliance in corporate vehicle sales, particularly important given Nigeria's strict requirements for vehicle ownership transfer and corporate asset disposition. It includes comprehensive details about the vehicle, warranties of ownership, corporate authorization for the sale, and specific terms of the transaction. This deed is typically used when companies are disposing of fleet vehicles, upgrading their vehicle assets, or selling company cars to employees or third parties. The document must comply with both Nigerian corporate law requirements and federal/state vehicle registration regulations.

1. Parties: Identification of the Seller (Company) and Buyer, including full registered company name, registration number and address for the company, and full legal name and address for the buyer

2. Background: Recitals explaining the company's ownership of the vehicle and intention to sell

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

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

5. Purchase Price: Details of the purchase price, payment terms, and method of payment

6. Completion: Requirements for completion of the sale, including timing and location

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

8. Seller's Warranties: Company's warranties regarding ownership, condition of vehicle, absence of encumbrances, etc.

9. Transfer of Ownership: Provisions regarding the transfer of title and registration documents

10. Corporate Authority: Statement of company's authority to sell and execute the deed

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

12. Execution: Formal execution blocks for company representatives and buyer