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Deed Of Absolute Sale Property

Deed Of Absolute Sale Property Template for Nigeria

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Key Requirements PROMPT example:

Deed Of Absolute Sale Property

"I need a Deed of Absolute Sale Property for transferring ownership of a commercial warehouse in Lagos, Nigeria from my company ABC Manufacturing Ltd to XYZ Logistics Inc, with completion planned for March 15, 2025, including specific provisions for existing tenant agreements."

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Document background
The Deed of Absolute Sale of Property is a crucial legal instrument in Nigerian real estate transactions, used when complete transfer of property ownership is intended. This document is essential for both residential and commercial property transfers, requiring careful preparation to ensure compliance with federal and state property laws. It's particularly important in Nigeria where land tenure is governed by the Land Use Act of 1978, which requires specific formalities including Governor's Consent for property transfers. The deed must include comprehensive property details, clear ownership rights, consideration amount, and various warranties. It's commonly used in outright property purchases, corporate acquisitions, and investment transactions where clear title transfer is paramount. The document's effectiveness depends on proper execution, stamping, and registration with relevant land registry authorities.
Suggested Sections

1. Parties: Full identification of the Vendor/Seller and Purchaser/Buyer with complete addresses and registration details if companies

2. Background: Recitals establishing the Vendor's ownership, right to sell, and Purchaser's intention to buy

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

4. Property Description: Detailed description of the property being sold, including boundaries, measurements, and registration particulars

5. Consideration: Purchase price and payment terms

6. Vendor's Warranties: Warranties regarding title, encumbrances, right to sell, and condition of the property

7. Transfer of Title: Express provisions transferring all rights, title, and interest in the property

8. Possession: Terms of delivering possession to the Purchaser

9. Registration and Perfection: Obligations regarding registration of the transfer with relevant authorities

10. Costs: Allocation of costs related to the sale, including registration and stamp duty

11. Execution: Formal execution clause meeting requirements for deeds in Nigeria

Optional Sections

1. Planning Permissions: Details of existing planning permissions when the property includes development rights

2. Tenancies: Information about existing tenancies if the property is sold subject to ongoing leases

3. Spousal Consent: Required when the property is matrimonial property

4. Environmental Warranties: Specific warranties regarding environmental conditions for industrial properties

5. Service Charges: Details of ongoing service charges for properties in managed developments

6. Tax Matters: Specific tax-related provisions where relevant to the transaction

7. Development Restrictions: Any restrictions on future development of the property

Suggested Schedules

1. Property Schedule: Detailed technical description of the property including survey plans and measurements

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

3. Planning Permits: Copies of relevant planning permissions and building approvals

4. Payment Schedule: If payment is to be made in installments, detailed payment terms and dates

5. Inventory: List of fixtures and fittings included in the sale

6. Land Use Approvals: Copies of Governor's Consent and other land use approvals

7. Property Tax Receipts: Evidence of payment of all property taxes and charges

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 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

Property Development

Construction

Banking and Finance

Hospitality

Retail

Industrial Manufacturing

Agriculture

Education

Healthcare

Commercial Office Space

Residential Property

Relevant Teams

Legal

Real Estate

Property Management

Facilities Management

Compliance

Corporate Affairs

Operations

Asset Management

Investment

Risk Management

Documentation

Relevant Roles

Real Estate Lawyer

Property Manager

Real Estate Agent

Property Developer

Corporate Lawyer

Land Administrator

Facilities Manager

Investment Manager

Real Estate Investment Officer

Property Acquisition Manager

Legal Counsel

Compliance Officer

Real Estate Portfolio Manager

Asset Manager

Title Officer

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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