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Land Purchase Contract
"I need a Land Purchase Contract for acquiring a 5-hectare agricultural property in Lagos State, Nigeria, with completion scheduled for March 2025, including specific provisions for existing farming rights and water access."
1. Parties: Identification of the Vendor and Purchaser with full legal names and addresses
2. Background: Context of the transaction including brief history of ownership and purpose of the sale
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: Agreed purchase price and payment terms including deposit and completion payment details
6. Title and Ownership: Vendor's confirmation of ownership rights and authority to sell under the Land Use Act
7. Conditions Precedent: Conditions that must be met before completion, including obtaining necessary governmental consents
8. Completion: Process and requirements for completing the transfer of the property
9. Vendor's Covenants: Warranties and representations by the vendor regarding the property and title
10. Purchaser's Covenants: Obligations and commitments of the purchaser
11. Registration and Transfer: Procedures for registering the transfer with relevant authorities
12. Risk and Insurance: Allocation of risk and responsibility for insurance before and after completion
13. Notices: Process for serving notices between parties
14. Governing Law: Confirmation of Nigerian law as governing law and jurisdiction
15. Execution: Formal execution block for signing and witnessing
1. Environmental Matters: Required when the property has specific environmental considerations or requirements
2. Planning Permissions: Needed when the land requires specific planning permissions or has development restrictions
3. Existing Tenancies: Required when the property is subject to existing tenancies or occupancy rights
4. Agricultural Land Provisions: Necessary for rural land transactions with agricultural considerations
5. Mining Rights: Required when mineral rights are relevant to the transaction
6. Access Rights: Needed when specific access arrangements or rights of way must be addressed
7. Traditional Rights: Required when customary or traditional rights need to be addressed
8. Development Obligations: Needed when there are specific development requirements or restrictions on the land
1. Property Schedule: Detailed technical description of the property including survey plans and coordinates
2. Title Documents: List of all title documents and evidence of ownership
3. Payment Schedule: Detailed breakdown of payment terms and installments if applicable
4. Encumbrances Schedule: List of any existing charges, mortgages, or encumbrances on the property
5. Required Consents: List of governmental and regulatory consents required for the transaction
6. Outstanding Taxes: Schedule of any outstanding taxes or charges on the property
7. Property Condition Report: Current state and condition of any structures on the land
8. Land Use Restrictions: Details of any restrictions or conditions on land use
Authors
Real Estate
Agriculture
Construction
Industrial Manufacturing
Mining
Retail
Hospitality
Education
Healthcare
Infrastructure Development
Energy
Telecommunications
Legal
Real Estate
Property Development
Corporate Development
Facilities Management
Finance
Operations
Business Development
Project Management
Risk Management
Compliance
Investment
Real Estate Manager
Property Developer
Legal Counsel
Land Administrator
Project Manager
Facilities Manager
Chief Executive Officer
Chief Financial Officer
Investment Manager
Property Acquisition Manager
Development Director
Corporate Expansion Manager
Real Estate Agent
Construction Manager
Business Development Manager
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