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The Land Sales Agreement is a crucial legal instrument used in Nigerian real estate transactions to formalize the transfer of land ownership. This document is essential when any party wishes to sell or purchase land in Nigeria, whether for residential, commercial, or industrial purposes. It must comply with the Land Use Act of 1978, which vests all land in the state governors, and requires their consent for any valid transfer. The agreement includes comprehensive details about the property, parties involved, purchase price, payment terms, and conditions precedent to completion. It addresses unique aspects of Nigerian land law, including customary rights where applicable, and incorporates necessary provisions for governor's consent. The document is particularly important given Nigeria's complex land tenure system and the need to ensure proper documentation for land registry purposes.

1. Parties: Identification of the seller(s) and buyer(s) with their full legal names, addresses, and contact details

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

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: Agreed purchase price and payment terms, including deposit and balance payment schedule

6. Seller's Representations and Warranties: Seller's guarantees regarding property title, encumbrances, and authority to sell

7. Buyer's Representations and Warranties: Buyer's confirmations regarding financial capacity and compliance with relevant laws

8. Conditions Precedent: Conditions that must be satisfied before completion, including Governor's Consent where applicable

9. Completion: Process and requirements for closing the transaction

10. Title Documents and Transfer: Provisions regarding the transfer of title and required documentation

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

12. Default and Remedies: Consequences of breach and available remedies

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

14. Execution: Signature blocks and execution requirements