¶¶Òõ¶ÌÊÓƵ

All Countries
Sales
Purchase Agreement For Commercial Property

Purchase Agreement For Commercial Property Template for Nigeria

Create a bespoke document in minutes,  or upload and review your own.

4.6 / 5
4.8 / 5

Let's create your Purchase Agreement For Commercial Property

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Get your first 2 documents free

Your data doesn't train Genie's AI

You keep IP ownership of your information

Key Requirements PROMPT example:

Purchase Agreement For Commercial Property

"I need a Purchase Agreement for Commercial Property for buying a three-story office building in Lagos, Nigeria, with existing tenants; the agreement must include specific provisions for tenant transition and building management handover planned for March 2025."

Celebrated by
Collaborations with
Investors
Document background
The Purchase Agreement For Commercial Property is a vital legal instrument used in Nigerian real estate transactions when transferring ownership of commercial real estate from one party to another. This document is essential for businesses acquiring commercial premises and must comply with Nigerian federal and state property laws, particularly the Land Use Act 1978. It details the complete transaction process, from initial agreement to final property transfer, including purchase price, payment terms, warranties, and completion requirements. The agreement is designed to protect both parties' interests while ensuring all regulatory requirements are met, including proper registration, tax obligations, and environmental compliance. It's particularly important in Nigeria's complex property law system, where state governors hold ultimate authority over land allocation and use.
Suggested Sections

1. Parties: Identification and details of the Vendor and Purchaser, including registration details if companies

2. Background: Context of the transaction and brief description of the property being sold

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

4. Sale and Purchase: Core agreement to sell and purchase the property, including the purchase price

5. Property Description: Detailed description of the property, including boundaries and registered title information

6. Purchase Price and Payment Terms: Breakdown of purchase price, deposit requirements, and payment schedule

7. Conditions Precedent: Conditions that must be satisfied before completion can occur

8. Vendor's Warranties: Warranties regarding property title, condition, and authority to sell

9. Title and Registration: Requirements for clean title transfer and registration procedures

10. Completion: Completion date, requirements, and procedures

11. Risk and Insurance: Transfer of risk and insurance requirements

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

13. Notices: Process for serving formal notices between parties

14. Governing Law and Jurisdiction: Specification of Nigerian law as governing law and jurisdiction for disputes

15. Entire Agreement: Confirmation that the agreement represents the entire understanding between parties

Optional Sections

1. Existing Tenancies: Required if the property has existing tenants, detailing their rights and obligations

2. Environmental Matters: Required if there are environmental concerns or compliance requirements

3. Development Rights: Include if there are ongoing or planned development projects

4. Tax Matters: Detailed tax provisions if complex tax implications exist

5. Service Contracts: Required if there are ongoing service contracts to be transferred

6. Planning Permissions: Include if specific planning permissions are relevant to the property

7. Anti-Money Laundering Provisions: Enhanced provisions for high-value transactions

8. Assignment Rights: Include if either party needs right to assign the agreement

9. Break Clauses: Include if parties require ability to terminate under specific circumstances

10. Intellectual Property Rights: Required if any IP rights are associated with the property

Suggested Schedules

1. Property Details: Detailed property description, including plans and measurements

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

3. Existing Tenancies Schedule: Details of all existing lease agreements and tenant information

4. Inventory: List of fixtures, fittings, and equipment included in the sale

5. Service Contracts: Details of ongoing service contracts affecting the property

6. Planning Permissions: Copies of relevant planning permissions and certificates

7. Environmental Reports: Environmental surveys and compliance certificates

8. Property Searches: Results of legal and local authority searches

9. Financial Schedule: Detailed breakdown of purchase price, payment terms, and adjustments

10. Form of Transfer: Template for the final transfer document

Authors

Alex Denne

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

alex.den.21@genieai.co
Relevant legal definitions









































Clauses








































Relevant Industries

Real Estate

Banking and Finance

Retail

Manufacturing

Hospitality

Healthcare

Education

Technology

Professional Services

Logistics and Warehousing

Industrial

Energy

Agriculture

Construction

Mining

Relevant Teams

Legal

Finance

Real Estate

Operations

Facilities Management

Risk and Compliance

Business Development

Property Management

Corporate Affairs

Investment

Asset Management

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Real Estate Director

Property Manager

Legal Counsel

Commercial Director

Facilities Manager

Investment Manager

Business Development Manager

Operations Director

Risk Manager

Compliance Officer

Finance Manager

Asset Manager

Real Estate Investment Analyst

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

Find the exact document you need

Agreement To Sell And Sale Deed

A combined agreement to sell and property transfer document under Nigerian law, facilitating both the promise to sell and actual transfer of property ownership.

find out more

Harmless Agreement

A Nigerian law-governed agreement where one party agrees to indemnify and hold another party harmless from specified risks, losses, or legal liabilities.

find out more

Lease To Purchase Contract

A Nigerian law-governed agreement combining property lease terms with a future purchase option, including rent credits towards the final purchase price.

find out more

Contract To Sell A House

A Nigerian law-governed agreement for the sale and transfer of residential property ownership, detailing terms, conditions, and legal requirements.

find out more

Sales Commission Contract

A Nigerian law-governed agreement establishing commission-based sales arrangements between a company and sales representative, including payment terms and performance requirements.

find out more

Offer To Purchase Property Form

A formal document under Nigerian law that presents a buyer's offer to purchase property, including proposed terms and conditions for the transaction.

find out more

As Is Contract For Sale And Purchase

A Nigerian law-governed contract for the sale and purchase of assets in their current condition without warranties ("as is" basis).

find out more

Residential Purchase Contract

A Nigerian law-governed contract for the sale and purchase of residential property, incorporating local land law requirements and transfer procedures.

find out more

Sell Land Contract

A legal agreement for land sale and transfer in Nigeria, complying with the Land Use Act and state land laws, including provisions for Governor's consent and registration requirements.

find out more

Agreement Of Purchase And Sale Form For Private Sale

A Nigerian law-governed agreement documenting private property sale terms and conditions between buyer and seller.

find out more

Motor Vehicle Purchase Contract

A Nigerian law-governed agreement for the sale and purchase of motor vehicles, detailing terms, conditions, and compliance requirements for vehicle transfer.

find out more

Assignment Of Purchase And Sale Agreement

A Nigerian law-governed agreement transferring rights and obligations in a property purchase agreement from the original purchaser to a new purchaser.

find out more

House Buying Contract

A Nigerian law-governed contract for the purchase and sale of residential property, incorporating local property transfer requirements and Land Use Act provisions.

find out more

Private Sale Vehicle Purchase Agreement

A Nigerian law-governed agreement for the private sale and purchase of vehicles between individuals, documenting sale terms and ownership transfer.

find out more

Letter Of Sale Agreement

A formal letter-style agreement under Nigerian law that documents the terms and conditions of a sale transaction between parties, serving as a legally binding contract.

find out more

Purchase Agreement For Commercial Property

A legally binding agreement under Nigerian law for the sale and purchase of commercial property, outlining terms, conditions, and obligations of all parties involved.

find out more

Motorcycle Sales Agreement

A Nigerian law-governed agreement for the sale and purchase of motorcycles, detailing terms, conditions, and regulatory requirements for ownership transfer.

find out more

Livestock Purchase Agreement

A Nigerian law-governed agreement for the purchase and sale of livestock, detailing terms, conditions, and compliance requirements for the transaction.

find out more

Whole Sale Contract

A Nigerian law-governed agreement establishing terms for wholesale trade between supplier and buyer, including commercial terms and regulatory compliance requirements.

find out more

Independent Sales Rep Agreement

A Nigerian law-governed agreement establishing terms and conditions for independent sales representation, including commission structures and territorial rights.

find out more

Business Purchase Contract

A Nigerian law-governed agreement documenting the terms and conditions for the purchase and sale of a business entity or its assets.

find out more

Boat Purchase Agreement

A Nigerian law-governed agreement for the sale and purchase of marine vessels, ensuring compliance with local maritime regulations while protecting parties' interests.

find out more

Motorcycle Sale Contract

A Nigerian law-governed contract for the sale and purchase of motorcycles, ensuring legal compliance and protecting both parties' interests.

find out more

Partnership Sale Agreement

A Nigerian law-governed agreement facilitating the sale and transfer of partnership interests, including terms, conditions, and compliance requirements.

find out more

Motorcycle Purchase Agreement

A legally binding agreement under Nigerian law for the sale and purchase of a motorcycle, detailing terms, conditions, and ownership transfer requirements.

find out more

Buy And Sell Contract

A Nigerian law-governed agreement documenting the sale and purchase of goods between parties, including terms of sale, delivery, and payment arrangements.

find out more

Sales Representative Agreement

A Nigerian law-governed agreement establishing terms and conditions for sales representation, including territory rights, commission structures, and compliance requirements.

find out more

Residential Purchase Agreement

A Nigerian law-governed agreement for the sale and purchase of residential property, detailing terms, conditions, and regulatory requirements for property transfer.

find out more

Purchase Sale Agreement

A Nigerian law-governed agreement documenting the sale and purchase of goods between parties, specifying terms, conditions, and obligations of the transaction.

find out more

Download our whitepaper on the future of AI in Legal

By providing your email address you are consenting to our Privacy Notice.
Thank you for downloading our whitepaper. This should arrive in your inbox shortly. In the meantime, why not jump straight to a section that interests you here: /our-research
Oops! Something went wrong while submitting the form.

³Ò±ð²Ô¾±±ð’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; ³Ò±ð²Ô¾±±ð’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

Our bank-grade security infrastructure undergoes regular external audits

We are ISO27001 certified, so your data is secure

Organizational security

You retain IP ownership of your documents

You have full control over your data and who gets to see it

Innovation in privacy:

Genie partnered with the Computational Privacy Department at Imperial College London

Together, we ran a £1 million research project on privacy and anonymity in legal contracts

Want to know more?

Visit our for more details and real-time security updates.

Read our Privacy Policy.