Agreement Of Sale Of Immovable Property Template for Nigeria

Create a bespoke document in minutes, or upload and review your own.

4.6 / 5

4.8 / 5

Let's create your Agreement Of Sale Of Immovable Property

1. Select your governing law and document type:

2. Enter your key requirements:

3. Create your document to edit, review or download

Get your first 2 documents free

Your data doesn't train Genie's AI

You keep IP ownership of your information

Key Requirements PROMPT example:

Agreement Of Sale Of Immovable Property

"I need an Agreement of Sale of Immovable Property for a commercial warehouse in Lagos, Nigeria, ensuring compliance with industrial zone regulations and including specific provisions for existing tenant arrangements to be terminated by March 2025."

Document background

The Agreement Of Sale Of Immovable Property is a fundamental legal instrument used in Nigerian property transactions to document and formalize the transfer of land, buildings, or other immovable assets from one party to another. This document is essential under Nigerian law, particularly considering the requirements of the Land Use Act 1978 and various state-level property regulations. It serves as a comprehensive record of the transaction terms, including property details, price, payment structure, and obligations of both parties. The agreement is crucial for ensuring legal compliance, protecting parties' interests, and facilitating proper registration with relevant authorities. It is commonly used in both commercial and residential property transactions and must incorporate specific provisions required by Nigerian property law, including governor's consent requirements where applicable.

Suggested Sections

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

2. Background: Context of the sale, brief property history, and statement of ownership/title

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

4. Property Description: Detailed description of the property including land area, boundaries, and improvements

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

6. Payment Terms: Detailed payment structure, method of payment, and consequences of default

7. Conditions Precedent: Conditions that must be fulfilled before the sale becomes effective

8. Seller's Warranties: Warranties regarding title, property condition, and authority to sell

9. Transfer of Ownership: Process and timing of transfer of title and possession

10. Registration and Transfer Costs: Allocation of costs related to transfer, registration, and stamp duty

11. Risk and Insurance: Transfer of risk and insurance obligations

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

13. Notices: How formal communications between parties should be made

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

15. Signing: Execution clauses and signature blocks

Optional Sections

1. Third Party Rights: Required when there are existing tenants or other parties with rights over the property

2. Environmental Matters: Include when the property has potential environmental issues or requires specific environmental warranties

3. Planning Permissions: Necessary when the property requires specific planning permissions or has development potential

4. Mortgage/Encumbrance Details: Include when the property has existing mortgages or encumbrances that need to be discharged

5. Special Conditions: For any unique requirements specific to the transaction

6. Agent's Commission: Include when a real estate agent is involved in the transaction

7. Foreign Investment Provisions: Required when either party is a foreign entity

8. Service Contracts: Include when there are ongoing service contracts that need to be transferred

Suggested Schedules

1. Property Description Schedule: Detailed technical description of the property including survey plans and land coordinates

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

3. Payment Schedule: Detailed breakdown of payment installments and timing

4. Inventory: List of fixtures, fittings, and other items included in the sale

5. Land Use Approvals: Copies of relevant land use and zoning approvals

6. Property Tax Certificates: Current property tax assessment and payment status

7. Due Diligence Results: Summary of property searches and due diligence findings

8. Property Plans: Architectural plans, building plans, and site plans

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 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

Banking and Finance

Legal Services

Property Development

Agriculture (for farmland)

Industrial and Manufacturing

Hospitality

Retail

Education

Healthcare

Mining and Natural Resources

Relevant Teams

Legal

Real Estate

Facilities Management

Finance

Compliance

Risk Management

Operations

Property Development

Asset Management

Investment

Corporate Services

Administration

Relevant Roles

Real Estate Manager

Property Lawyer

Conveyancing Attorney

Legal Counsel

Property Development Manager

Facilities Manager

Real Estate Agent

Commercial Director

Investment Manager

Chief Financial Officer

Risk Manager

Compliance Officer

Property Valuer

Asset Manager

Operations Director

Land Administrator

Title Officer

Find the exact document you need

Agreement For Flat Sale

A Nigerian law-governed agreement for the sale and purchase of a flat, detailing terms, conditions, and obligations of the transaction.

How a Sales & Marketing Lead uses Genie AI to reduce contract drafting time by 95%

Let's create your Agreement Of Sale Of Immovable Property

Authors

Alex Denne

Find the exact document you need

Agreement For Flat Sale

Shop Selling Agreement

Agreement For Purchase Of Goods

Buy Sell Contract

Agreement Of Sale Of Immovable Property

Letter Of Intent For Property Sale

Land Contract Purchase Agreement

Purchase And Sale Contract For Residential Property

Vacant Land Purchase And Sale Agreement

Agreement For Flat Purchase

Private Property Sale Agreement

Vacant Land Sale Contract

Simple Real Estate Purchase Contract

Bill Of Sale Stock Purchase Agreement

Bill Of Sale For Asset Purchase Agreement

Agreement For Sale Of Shares To Another Shareholder

Business Sell Agreement

Bill Of Sale And Purchase Agreement

Simple Vacant Land Purchase Agreement

Personal Property Sales Contract

Car Sale Payment Agreement

Bill Of Sale Purchase Agreement

Sell And Buy Back Agreement

Shareholder Buyout Agreement

Residential Real Estate Purchase Contract

Real Property Sales Contract

Master Sale And Purchase Agreement

Agreement Of Sale Contract

Sale And Buy Back Agreement

Business Purchase And Sale Agreement

Buy And Sell Agreement

Sales And Purchase Agreement Of Goods

Land Sale Agreement

Asset Purchase And Sale Agreement

Download our whitepaper on the future of AI in Legal

Genie’s Security Promise

Your documents are private:

Your documents are protected:

Organizational security

Innovation in privacy:

Want to know more?

Commercial

Employment

IP

Administration

Finance

R&D

Use Cases