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Vacant Land Sale Contract

Vacant Land Sale Contract Template for Nigeria

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Key Requirements PROMPT example:

Vacant Land Sale Contract

"I need a Vacant Land Sale Contract for a 5-hectare plot in Lagos State's Lekki Free Trade Zone, with completion scheduled for March 2025, including specific provisions for industrial development and phased payments."

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Document background
The Vacant Land Sale Contract is a crucial legal instrument used in Nigeria for transactions involving undeveloped land. It is designed to comply with the Land Use Act of 1978, which vests all land in the state governors to hold in trust for the people. This document is essential when transferring rights to vacant land, whether for personal, commercial, or industrial purposes. It includes comprehensive details about the property, purchase terms, and necessary governmental approvals, particularly the Governor's Consent requirement. The agreement is structured to protect both parties' interests while ensuring compliance with federal and state regulations, including environmental laws and local planning requirements. It's particularly important in Nigeria's complex land administration system, where both statutory and customary land rights may need to be considered.
Suggested Sections

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

2. Background: Context of the sale, including brief description of the property and intention to sell/purchase

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

4. Property Description: Detailed description of the vacant land including boundaries, measurements, and title details

5. Purchase Price: Agreed purchase price and payment terms including deposit and balance payment schedule

6. Conditions Precedent: Conditions that must be satisfied before completion, including Governor's Consent requirements

7. Vendor's Representations and Warranties: Warranties regarding title, encumbrances, and property condition

8. Completion: Process and timeline for completing the sale, including documentation requirements

9. Title Transfer: Process for transferring title and obtaining necessary government approvals

10. Costs and Taxes: Allocation of transaction costs, stamp duties, and other fees

11. Risk and Insurance: Transfer of risk and responsibility for the property

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

13. Notices: Method and addresses for serving notices

14. Governing Law: Confirmation of Nigerian law as governing law

15. Execution: Signature blocks and execution requirements

Optional Sections

1. Environmental Matters: Include when there are specific environmental considerations or requirements for the land

2. Planning Permissions: Include when the land requires specific planning permissions or has existing permissions

3. Access Rights: Include when there are specific access arrangements or rights of way

4. Development Restrictions: Include when there are specific restrictions on land development

5. Mineral Rights: Include when mineral rights are being transferred or specifically excluded

6. Third Party Rights: Include when there are existing third party rights affecting the property

7. Survey Requirements: Include when a new survey is required as part of the transaction

8. Soil Testing: Include when soil testing is required or has been conducted

Suggested Schedules

1. Property Schedule: Detailed property description including survey plan, beacon numbers, and coordinates

2. Title Documents: List of all title documents including Certificate of Occupancy or other proof of ownership

3. Payment Schedule: Detailed breakdown of payment terms and installments if applicable

4. Land Use Permissions: Copies of relevant land use approvals and permissions

5. Survey Plan: Official survey plan and property measurements

6. Environmental Reports: Any environmental assessments or reports if applicable

7. Tax Clearance: Evidence of tax compliance and clearance certificates

8. Property Pictures: Recent photographs of the vacant land and its boundaries

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

Construction

Agriculture

Industrial Development

Commercial Development

Residential Development

Mining

Infrastructure

Hospitality

Retail

Manufacturing

Energy

Environmental Services

Relevant Teams

Legal

Real Estate

Property Development

Facilities Management

Compliance

Corporate Affairs

Project Management

Investment

Operations

Environmental

Risk Management

Property Acquisition

Relevant Roles

Real Estate Manager

Property Developer

Legal Counsel

Land Administrator

Property Acquisition Manager

Development Director

Facilities Manager

Project Manager

Investment Manager

Compliance Officer

Real Estate Agent

Property Lawyer

Construction Manager

Environmental Officer

Corporate Real Estate 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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