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Deed Of Sale For House

Deed Of Sale For House Template for Nigeria

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Key Requirements PROMPT example:

Deed Of Sale For House

"I need a standard Deed of Sale for House for a residential property in Lagos, Nigeria, with completion scheduled for March 15, 2025, where the property is being sold with all existing fixtures and fittings included in the sale price of 50,000,000 Naira."

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Document background
A Deed of Sale For House is a crucial legal instrument in Nigerian property transactions, used when transferring ownership of residential property from one party to another. This document is essential in Nigeria's property market, where land ownership is governed by the Land Use Act of 1978 and various state-specific regulations. The deed must include comprehensive details about the property, parties involved, consideration, and various warranties and covenants. It's particularly important as it serves as evidence of ownership transfer and must be properly executed, stamped, and registered with the appropriate land registry. The document is used in both private and commercial property transactions and must comply with strict legal requirements for validity, including proper attestation and acknowledgment before designated officials.
Suggested Sections

1. Parties: Identification of the Vendor/Seller and Purchaser/Buyer with full legal names and addresses

2. Background: Recitals establishing the Vendor's ownership, property brief description, and intention to sell

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

4. Property Description: Detailed legal description of the property including boundaries and registration details

5. Consideration: Purchase price and payment terms

6. Vendor's Covenants: Seller's warranties regarding title, right to sell, and property condition

7. Title Matters: Confirmation of good and marketable title, free from encumbrances

8. Completion: Details of completion date, location, and requirements

9. Risk and Insurance: Transfer of risk and insurance responsibilities

10. Possession: Terms of giving vacant possession

11. Registration: Requirements for registration of the transfer

12. Execution: Formal execution clause with witness requirements

Optional Sections

1. Planning Permissions: Include when property has specific planning permissions or restrictions

2. Tenant Rights: Include when property is sold subject to existing tenancies

3. Service Charges: Include for properties with ongoing service charges or management fees

4. Property Contents: Include when sale includes specific fixtures, fittings, or furniture

5. Development Rights: Include when transferring or reserving development rights

6. Environmental Matters: Include when there are environmental considerations or restrictions

7. Power of Attorney: Include when one party is acting through an attorney

Suggested Schedules

1. Property Schedule: Detailed property description, including land registry details and plan

2. Title Documents: List of all title documents and their location

3. Fixtures and Fittings: Inventory of included and excluded items

4. Property Certificates: Copies of relevant certificates (building approval, occupancy permit, etc.)

5. Payment Schedule: If payment is in installments, detailed payment plan

6. Encumbrances: Details of any existing charges, mortgages, or other encumbrances

7. Property Plan: Survey plan and property drawings

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

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant Industries

Real Estate

Legal Services

Banking & Finance

Construction

Property Development

Property Management

Insurance

Public Sector

Urban Planning

Relevant Teams

Legal

Real Estate

Property Management

Compliance

Risk Management

Document Management

Corporate Services

Administrative Services

Business Development

Client Relations

Relevant Roles

Real Estate Lawyer

Property Manager

Real Estate Agent

Legal Counsel

Conveyancing Officer

Property Developer

Land Administrator

Title Officer

Compliance Officer

Real Estate Investment Manager

Property Valuer

Mortgage Officer

Legal Secretary

Real Estate Transaction Coordinator

Industries
Land Use Act of 1978: The fundamental law governing land ownership and transfer in Nigeria. It vests all land in the state governors and sets out requirements for land transfers.
Registration of Titles Law: Governs the registration of property titles and maintenance of land registers in Nigeria. Important for ensuring proper documentation of the property transfer.
Stamp Duties Act: Requires certain documents, including property transfer deeds, to be stamped upon payment of prescribed duties to make them legally admissible.
Contract Law Act: General principles of contract law that govern the formation and enforcement of contracts, including requirements for valid contracts in Nigeria.
Property and Conveyancing Law: Regulates the transfer of real property and the requirements for valid conveyancing documents in Nigeria.
Nigerian Urban and Regional Planning Act: Relevant for ensuring the property complies with zoning laws and building regulations.
Federal Capital Territory Act: Specific requirements for property transfers within the Federal Capital Territory (if applicable).
Money Laundering (Prohibition) Act: Relevant for ensuring compliance with anti-money laundering regulations in real estate transactions.
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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