Document background
A Letter Of Intent To Sell Property To Tenant is commonly used in Nigerian real estate transactions when a property owner wishes to offer their property for sale to the existing tenant. This document is particularly relevant under Nigerian law, where tenant rights and property transfers are governed by the Land Use Act 1978 and state-specific tenancy laws. It serves as an initial formal communication that precedes a binding sale agreement, typically used when there's an existing landlord-tenant relationship and the property owner wants to give the tenant the first opportunity to purchase the property. The document includes essential information such as property details, proposed purchase price, basic terms of the potential sale, and any specific conditions or requirements. While not legally binding for the final sale, it helps establish clear intentions and can be referenced in subsequent negotiations and formal agreements.
