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Contract For Land Purchase
"I need a Contract For Land Purchase for acquiring a 2-hectare commercial plot in Lagos State, Nigeria, with completion scheduled for March 2025; the contract should include specific provisions for existing tenant farmers who will need 6 months to vacate the property."
1. Parties: Identification and details of the Vendor and Purchaser, including full legal names, addresses, and registration details if companies
2. Background: Context of the transaction, including brief description of the property and intention to sell/purchase
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Description: Detailed description of the land including boundaries, measurements, and registration particulars
5. Purchase Price: Agreed purchase price and payment terms, including deposit and completion payment details
6. Conditions Precedent: Conditions that must be satisfied before completion, including title verification and governor's consent
7. Vendor's Representations and Warranties: Warranties regarding ownership, right to sell, absence of encumbrances, etc.
8. Completion: Process and requirements for completion of the sale
9. Title Documents and Transfer: Details of title transfer process and documentation requirements
10. Costs and Taxes: Allocation of transaction costs, stamp duty, and other fees
11. Risk and Insurance: Transfer of risk and insurance responsibilities
12. Default and Remedies: Consequences of default by either party and available remedies
13. Notices: Process for serving notices under the agreement
14. Governing Law: Confirmation of Nigerian law as governing law and jurisdiction
15. Execution: Signature blocks and execution formalities
1. Environmental Matters: Required when the property has specific environmental considerations or requirements
2. Planning Permissions: Needed when the land requires specific planning permissions or has development restrictions
3. Existing Tenancies: Required when the property is subject to existing lease agreements
4. Agricultural Provisions: Needed for agricultural land with specific usage requirements or restrictions
5. Mineral Rights: Required when mineral rights are being transferred or specifically excluded
6. Third Party Consents: Needed when specific third-party approvals are required for the transfer
7. Special Conditions: For any unique requirements or conditions specific to the transaction
8. Future Development Rights: When there are specific agreements about future development of the land
1. Property Schedule: Detailed property description, including maps, plans, and exact measurements
2. Title Documents: List and copies of all relevant title documents
3. Payment Schedule: Detailed breakdown of payment terms and installments if applicable
4. Encumbrances Schedule: List of any existing encumbrances, easements, or restrictions
5. Inventory: List of any fixtures, fittings, or other items included in the sale
6. Required Consents: List of all required governmental and other consents
7. Outstanding Taxes: Details of any outstanding taxes or rates on the property
8. Land Use Specifications: Detailed information about permitted land use and zoning requirements
Authors
Business Day
Completion
Completion Date
Deposit
Encumbrances
Governor's Consent
Land
Land Registry
Land Use Act
Local Government Authority
Purchase Price
Property
Purchaser
Registration Fees
Right of Occupancy
Stamp Duty
State
Statutory Declaration
Survey Plan
Title Documents
Transfer Documents
Vendor
Vendor's Solicitor
Purchaser's Solicitor
Warranties
Certificate of Occupancy
Customary Rights
Development Plans
Environmental Permits
Force Majeure
Interest Rate
Legal Requirements
Material Adverse Change
Planning Laws
Property Taxes
Representatives
Security Interest
Title Certificate
Working Hours
Sale and Purchase
Purchase Price and Payment
Conditions Precedent
Title and Transfer
Warranties and Representations
Due Diligence
Completion
Post-Completion Obligations
Land Registration
Governor's Consent
Property Inspection
Risk and Insurance
Environmental Matters
Planning and Development
Encumbrances
Default and Remedies
Force Majeure
Notices
Costs and Taxes
Confidentiality
Assignment
Entire Agreement
Severability
Governing Law
Dispute Resolution
Indemnification
Amendments
Third Party Rights
Waiver
Counterparts
Real Estate
Agriculture
Construction
Manufacturing
Hospitality
Retail
Industrial
Mining
Energy
Infrastructure Development
Commercial Development
Residential Development
Legal
Real Estate
Facilities
Finance
Compliance
Risk Management
Corporate Secretariat
Property Development
Project Management
Land Administration
Real Estate Manager
Property Developer
Legal Counsel
Land Administrator
Facilities Manager
Chief Financial Officer
Real Estate Investment Manager
Property Acquisition Manager
Development Director
Compliance Officer
Risk Manager
Corporate Secretary
Land Surveyor
Project Manager
Estate Agent
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