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The For Sale Land Contract is a fundamental legal document used in Nigerian real estate transactions to formalize the transfer of land ownership. It is essential for any land acquisition in Nigeria, whether for personal, commercial, or industrial purposes. The document must comply with the Land Use Act 1978, which vests all land in the state governors, and relevant state land laws. This contract type includes crucial elements such as property details, purchase price, payment terms, warranties, and the process for obtaining mandatory Governor's Consent. It's particularly important as land ownership in Nigeria involves multiple legal considerations, including statutory, customary, and state-specific requirements. The document serves as both a legal record of the transaction and a roadmap for completing the land transfer process.

1. Parties: Identification of the Vendor and Purchaser with full legal names, addresses, and contact details

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 including boundaries, measurements, and registration particulars

5. Purchase Price: The agreed purchase price and payment terms including deposit and balance payment arrangements

6. Conditions Precedent: Conditions that must be satisfied before completion, including Governor's Consent requirements

7. Vendor's Representations and Warranties: Warranties regarding title, encumbrances, and right to sell

8. Purchaser's Representations and Warranties: Warranties regarding capacity to purchase and compliance with relevant laws

9. Completion: Details of the completion process, timing, and requirements

10. Title Documents and Transfer: Process for transfer of title documents and registration requirements

11. Costs and Taxes: Allocation of responsibility for stamp duty, registration fees, and other costs

12. Risk and Insurance: Transfer of risk and insurance responsibilities

13. Default and Remedies: Consequences of default by either party and available remedies

14. Notices: Method and addresses for serving notices under the agreement

15. Governing Law: Confirmation of Nigerian law as governing law and jurisdiction