Option To Buy Agreement Template for Nigeria

1. Deposit Terms: Used when a deposit is required, specifying amount, payment terms, and whether refundable

2. Assignment Rights: Include when the option rights may be transferred to third parties

3. Development Rights: Used for undeveloped land where development rights during the option period need to be addressed

4. Environmental Conditions: Include for properties where environmental issues may be relevant

5. Multiple Properties: Used when the option covers multiple properties or parcels

6. Tenant Rights: Include when the property is currently leased to tenants

7. Planning Permissions: Used when exercise of the option is conditional on obtaining specific planning permissions

8. Mortgage Provisions: Include when the property has existing mortgages or financing

9. Right of First Refusal: Used when including additional rights beyond the option itself

1. Schedule 1 - Property Description: Detailed legal description of the property, including boundaries, title details, and registered interests

2. Schedule 2 - Payment Terms: Detailed breakdown of all payments, including option price, purchase price, and payment schedule

3. Schedule 3 - Form of Exercise Notice: Template notice for exercising the option

4. Schedule 4 - Due Diligence Requirements: List of required documents and investigations for due diligence

5. Schedule 5 - Title Documents: List of title documents and encumbrances

6. Appendix A - Property Plans: Maps, surveys, and plans of the property

7. Appendix B - Photographs: Current photographs of the property and its boundaries

8. Appendix C - Required Consents: List of necessary governmental or third-party consents