Joint Purchase Agreement For Property Template for Nigeria

1. Islamic Law Compliance: Required in northern Nigerian states where Sharia law applies, ensuring the agreement complies with Islamic principles

2. Mortgage Provisions: Required if the purchase involves mortgage financing, detailing lender requirements and obligations

3. Property Development: Include when parties plan to develop the property, outlining development rights and responsibilities

4. Rental Income: Required if the property will be rented out, detailing how rental income will be shared

5. Right of First Refusal: Optional clause giving co-owners first right to purchase if one party wishes to sell their share

6. Exit Mechanism: Detailed procedures for when one party wishes to exit the joint ownership arrangement

7. Death or Incapacity: Provisions for what happens to the property interest in case of death or incapacity of a co-owner

8. Power of Attorney: Required if any party needs to delegate authority for property-related matters

1. Property Description Schedule: Detailed technical description of the property, including plans and measurements

2. Payment Schedule: Detailed breakdown of payment terms, amounts, and dates

3. Title Documents: Copies of relevant title documents and land registry entries

4. Contribution Schedule: Detailed breakdown of each party's financial contributions and ownership percentages

5. Property Management Schedule: Detailed procedures for property management, maintenance responsibilities, and cost sharing

6. Due Diligence Results: Summary of property searches, surveys, and other due diligence findings

7. Required Consents: Copies of necessary government consents and approvals

8. Property Photographs: Visual documentation of the property's condition at purchase