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Land Contract Template for Nigeria

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Key Requirements PROMPT example:

Land Contract

"I need a Land Contract for purchasing a 2-hectare commercial property in Lagos State, Nigeria, with phased payment terms and specific development obligations to build a retail complex by March 2025."

Document background
The Land Contract is a crucial legal instrument in Nigerian property transactions, used to formalize and document the transfer of land ownership or occupancy rights between parties. It operates within the framework of the Land Use Act 1978, which vests all land in the state governors, and must comply with both federal and state-specific regulations. This document is essential for any land transaction in Nigeria, whether for private, commercial, or industrial purposes. It includes comprehensive details about the property, parties involved, payment terms, warranties, and necessary regulatory compliance requirements. The contract serves as a legally binding agreement that protects the interests of both parties and ensures proper documentation for land registry purposes. It's particularly important given Nigeria's dual system of statutory and customary land rights, and must often accommodate local customs while maintaining legal validity.
Suggested Sections

1. Parties: Identification of the vendor/seller and purchaser/buyer with full legal names, addresses, and contact details

2. Background: Context of the transaction, including brief property history and purpose of the transfer

3. Definitions: Definitions of key terms used throughout the agreement

4. Property Description: Detailed legal description of the land including boundaries, measurements, and registration particulars

5. Purchase Price: The agreed purchase price and payment terms

6. Payment Terms: Detailed breakdown of payment structure, including deposits and installments

7. Warranties and Representations: Seller's warranties regarding ownership, title, and property condition

8. Completion: Terms and conditions for completion of the sale, including timing and documentation

9. Title Transfer: Process and requirements for transferring title, including registration requirements

10. Possession: Terms regarding the transfer of possession and vacant possession requirements

11. Costs and Taxes: Allocation of transaction costs, stamp duties, and registration fees

12. Default and Remedies: Consequences of default and available remedies for both parties

13. Governing Law: Specification of Nigerian law as governing law and jurisdiction

14. Signing and Execution: Requirements for proper execution of the agreement

Optional Sections

1. Development Requirements: Used when the land is subject to specific development obligations or restrictions

2. Mortgage Provisions: Required when the purchase involves mortgage financing

3. Environmental Warranties: Important for industrial or previously developed land

4. Special Conditions: For any unique requirements or conditions specific to the transaction

5. Multiple Owners: Required when there are multiple sellers or family interests

6. Customary Rights: Needed when dealing with land subject to customary rights or traditional interests

7. Planning Permissions: Required when the land requires specific planning approvals or permits

8. Third Party Rights: Used when there are existing tenants or other third-party interests

Suggested Schedules

1. Property Schedule: Detailed technical description of the property, including surveys and plans

2. Payment Schedule: Detailed breakdown of payment installments and timing

3. Title Documents: List of all relevant title documents and certificates

4. Encumbrances Schedule: Details of any existing charges, encumbrances, or restrictions

5. Completion Requirements: Checklist of documents and actions required for completion

6. Land Use Approvals: Copies of relevant land use and planning approvals

7. Survey Plan: Official survey plan and property measurements

8. Property Photographs: Recent photographs of the property and its boundaries

Authors

Alex Denne

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

Relevant legal definitions

































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Relevant Industries

Real Estate

Construction

Agriculture

Industrial Manufacturing

Retail

Hospitality

Education

Healthcare

Mining

Energy

Infrastructure Development

Commercial Development

Residential Development

Relevant Teams

Legal

Real Estate

Property Management

Business Development

Compliance

Operations

Facilities Management

Project Development

Investment

Corporate Services

Land Administration

Relevant Roles

Legal Counsel

Real Estate Manager

Property Developer

Land Administrator

Business Development Manager

Investment Manager

Facility Manager

Project Manager

Property Lawyer

Compliance Officer

Real Estate Agent

Construction Manager

Site Manager

Operations Director

Chief Legal Officer

Property Acquisition 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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