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The Post Possession Agreement is a vital legal instrument in Nigerian property transactions where a buyer takes possession of a property before the completion of the sale process. This scenario commonly arises in situations involving installment payments, pending mortgage arrangements, or ongoing administrative processes such as governor's consent or title perfection. The agreement protects both parties' interests during this interim period by clearly defining possession rights, payment obligations, property maintenance responsibilities, and risk allocation. It must comply with Nigerian federal and state property laws, particularly the Land Use Act, and includes provisions for insurance, utilities, maintenance, and default remedies. This document is especially crucial in Nigeria's property market where completion of property transactions can be prolonged due to administrative requirements and payment structures.

1. Parties: Identification of the seller and buyer, including full legal names, addresses, and registration details if companies

2. Background: Context of the transaction, including property details, reference to the main sale agreement, and circumstances leading to post-possession arrangement

3. Definitions: Key terms used throughout the agreement, including 'Property', 'Possession Date', 'Completion Date', and other relevant terms

4. Possession Terms: Detailed terms of possession, including date of possession, condition of property at possession, and acknowledgment of receipt

5. Payment Provisions: Outstanding payment details, installment schedule, payment methods, and consequences of default

6. Seller's Obligations: Ongoing obligations of the seller during the post-possession period, including completion of documentation

7. Buyer's Obligations: Responsibilities of the buyer while in possession, including maintenance, insurance, and compliance with regulations

8. Risk and Insurance: Allocation of risk and insurance requirements during the post-possession period

9. Default and Remedies: Consequences of breach by either party and available remedies

10. Termination: Circumstances under which the agreement can be terminated and consequences

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

12. Execution: Signature blocks and execution formalities