Fixed Term Tenancy Termination Template for Nigeria

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Key Requirements PROMPT example:

Fixed Term Tenancy Termination

"I need a Fixed Term Tenancy Termination agreement under Nigerian law for a commercial property in Lagos, with the tenancy naturally ending on March 31, 2025, including provisions for final utility readings and a detailed inventory check."

Document background
This Fixed Term Tenancy Termination agreement is designed for use in Nigeria when parties wish to formally document the end of a fixed-term tenancy agreement, whether at its natural conclusion or through mutual agreement for early termination. The document incorporates requirements from the Recovery of Premises Act and relevant state tenancy laws, making it suitable for both residential and commercial properties across Nigerian states. It includes essential provisions for property handover, security deposit settlement, utility transfers, and final inspections. The agreement is particularly important in the Nigerian context where formal documentation of property transactions is crucial for legal certainty and dispute prevention. It can be customized to address state-specific requirements while maintaining compliance with federal regulations.
Suggested Sections

1. Parties: Identification of the landlord and tenant, including full names, addresses, and contact details

2. Background: References to the original tenancy agreement, including its date, property address, and term

3. Definitions: Key terms used in the termination agreement, ensuring clarity and preventing misinterpretation

4. Termination Date: Clear statement of the agreed termination date and confirmation that both parties agree to early termination if applicable

5. Handover Requirements: Specific conditions for returning the property, including cleaning and repair obligations

6. Security Deposit: Provisions regarding the return or deduction from the security deposit

7. Final Payments: Details of any outstanding rent, utilities, or other charges to be settled

8. Keys and Access: Arrangements for returning keys and final property inspection

9. Release and Discharge: Mutual release from obligations under the original tenancy agreement

10. Governing Law: Confirmation that the agreement is governed by Nigerian law and specific state jurisdiction

Optional Sections

1. Repairs and Maintenance: Required when specific repairs or maintenance work needs to be completed before termination

2. Forwarding Address: Include when the tenant needs to provide a forwarding address for future correspondence or deposit return

3. Third Party Obligations: Needed when there are guarantors or other third parties involved in the original tenancy

4. Dispute Resolution: Include when parties wish to specify particular dispute resolution mechanisms

5. Utilities Transfer: Required when specific arrangements are needed for transfer or termination of utility accounts

Suggested Schedules

1. Schedule 1 - Property Inventory: Detailed list of property contents and their condition at termination

2. Schedule 2 - Damage Report: Documentation of any damage to the property and associated repair costs

3. Schedule 3 - Deposit Deductions: Itemized list of any deductions from the security deposit

4. Schedule 4 - Utility Readings: Final readings for all utility meters

5. Appendix A - Photographic Evidence: Photos documenting the property's condition at termination

6. Appendix B - Outstanding Payments: Detailed breakdown of any outstanding payments or credits

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

Relevant Industries

Real Estate

Residential Property

Commercial Property

Retail

Hospitality

Office Space

Industrial

Education

Healthcare

Relevant Teams

Legal

Real Estate

Facilities Management

Operations

Property Management

Asset Management

Finance

Administration

Compliance

Risk Management

Relevant Roles

Property Manager

Real Estate Agent

Facilities Manager

Legal Counsel

Property Administrator

Asset Manager

Leasing Manager

Operations Manager

Contract Administrator

Real Estate Director

Housing Officer

Tenant Relations Manager

Industries
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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