Document background
The Disposition And Development Agreement is a specialized contract used in Nigerian real estate and development projects where property transfer is coupled with specific development commitments. This document is particularly relevant when transferring land or property rights with the explicit intention of development, requiring compliance with the Nigerian Land Use Act, urban planning regulations, and environmental laws. It's commonly used for major development projects, urban renewal initiatives, or structured property developments where the transferor wants to ensure specific development outcomes. The agreement includes detailed provisions for property transfer, development specifications, timelines, regulatory compliance, and performance guarantees, making it essential for projects requiring careful structuring of both property disposition and development obligations. The document must account for unique aspects of Nigerian property law, including requirements for governmental consent and local content provisions.
