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The Long Term Tenancy Agreement is a crucial legal document used in Nigeria when establishing extended rental arrangements typically exceeding one year. It serves as the primary instrument for defining the legal relationship between property owners and tenants, whether for residential or commercial purposes. This document is essential in the Nigerian real estate market, where long-term leases are common and require careful consideration of both federal and state-specific legislation. The agreement encompasses detailed provisions for rent payment, maintenance obligations, security deposits, and dispute resolution mechanisms, while ensuring compliance with local property laws and regulations. It's particularly important given Nigeria's unique legal framework that combines common law, customary law, and in some regions, Islamic law considerations. The document provides comprehensive protection for both landlord and tenant interests, making it a fundamental tool in property management and real estate transactions within the Nigerian jurisdiction.

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

2. Background: Brief context of the agreement and confirmation of the landlord's right to lease the property

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

4. Demise: Formal grant of the lease, specifying the property being leased

5. Term and Commencement: Duration of the lease and start date

6. Rent and Payment Terms: Rent amount, payment schedule, and method of payment

7. Security Deposit: Amount, payment terms, and conditions for return of the security deposit

8. Service Charges: Additional charges for maintenance, utilities, and other services

9. Tenant's Obligations: Comprehensive list of tenant's responsibilities including maintenance, use restrictions, and conduct

10. Landlord's Obligations: Comprehensive list of landlord's responsibilities including repairs and maintenance

11. Insurance: Requirements for property and content insurance

12. Assignment and Subletting: Restrictions and conditions for transferring or subletting the property

13. Alterations and Improvements: Rules regarding modifications to the property

14. Access and Inspection: Landlord's rights to enter and inspect the property

15. Termination: Grounds and procedures for ending the tenancy

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

17. Notices: Requirements for formal communications between parties

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

19. Dispute Resolution: Process for resolving disputes including mediation and arbitration procedures