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The License Agreement For Rental Property is a crucial legal instrument in the Nigerian property market, designed to facilitate temporary property occupation arrangements while providing legal protection for both property owners and occupants. This document is particularly useful when traditional lease arrangements are not suitable or when greater flexibility is required, such as for short-term occupancy, specific-purpose use, or when certain restrictions on property rights are necessary. The agreement must comply with Nigerian property laws, including the Land Use Act and state-specific tenancy regulations, while addressing key aspects such as payment terms, duration, maintenance responsibilities, and usage restrictions. It serves as a more flexible alternative to traditional leases while still maintaining legal enforceability and protecting the interests of all parties involved.

1. Parties: Identification and details of the Licensor (property owner) and Licensee (occupant)

2. Background: Context of the agreement and brief description of the property and intended use

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

4. Grant of License: Terms of the license granted, including purpose and scope of permitted use

5. Duration: Period of the license, including start date and end date

6. License Fee: Amount, payment schedule, and method of payment for the license

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

8. Utilities and Services: Responsibility for payment and arrangement of utilities and services

9. Maintenance and Repairs: Obligations regarding property maintenance and repair responsibilities

10. Licensee's Obligations: Key responsibilities and restrictions on the Licensee's use of the property

11. Licensor's Obligations: Key responsibilities of the Licensor regarding the property

12. Insurance: Required insurance coverage and responsibilities

13. Access and Inspection: Licensor's rights to access and inspect the property

14. Termination: Grounds and procedures for termination of the license

15. Governing Law: Specification of Nigerian law as governing law and jurisdiction