Real Estate On Contract Template for Nigeria

Create a bespoke document in minutes,  or upload and review your own.

4.6 / 5
4.8 / 5

Let's create your Real Estate On Contract

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Get your first 2 documents free

Your data doesn't train Genie's AI

You keep IP ownership of your information

Key Requirements PROMPT example:

Real Estate On Contract

"I need a Real Estate On Contract agreement for a commercial property development in Lagos, Nigeria, which includes specific provisions for phased construction and staged payments, with completion scheduled for March 2025."

Document background
The Real Estate On Contract agreement is a vital legal instrument used in Nigerian property transactions when parties wish to establish a structured arrangement for property transfer. This document is particularly relevant when the transaction involves staged payments, specific conditions, or development requirements. It complies with Nigerian federal and state property laws, including the Land Use Act of 1978 and relevant state property legislation. The agreement is essential for both commercial and residential property transactions, providing comprehensive coverage of property details, payment terms, conditions precedent, and completion requirements. It's designed to protect both parties' interests while ensuring the transaction meets all legal requirements for property transfer in Nigeria. The document is commonly used in urban development projects, commercial property acquisitions, and residential property sales where specific contractual arrangements are needed.
Suggested Sections

1. Parties: Identification and details of the seller/owner and buyer/contractor

2. Background: Context of the transaction and brief property overview

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

4. Property Details: Comprehensive description of the property including location, boundaries, and title information

5. Purchase Price and Payment Terms: Details of the purchase price, payment schedule, and payment methods

6. Contract Period: Duration of the contract and key milestone dates

7. Seller's Representations and Warranties: Seller's guarantees regarding property title, condition, and authority to sell

8. Buyer's Representations and Warranties: Buyer's guarantees regarding financial capacity and compliance with terms

9. Title and Documentation: Requirements for title transfer and necessary documentation

10. Conditions Precedent: Conditions that must be met before the contract becomes effective

11. Completion Requirements: Steps required to complete the transaction

12. Default and Remedies: Consequences of breach and available remedies

13. Governing Law: Specification of Nigerian law as governing law

14. Dispute Resolution: Process for resolving disputes between parties

15. Notices: How formal communications between parties should be made

16. Execution: Signature blocks and execution requirements

Optional Sections

1. Environmental Compliance: Required when property involves environmental considerations or requirements

2. Planning Permissions: Needed when property requires specific zoning or development approvals

3. Tenant Rights: Required when property is currently occupied by tenants

4. Property Management: Included when agreement covers ongoing management responsibilities

5. Construction Requirements: Needed when property involves new construction or renovations

6. Special Conditions: For unique requirements specific to the property or transaction

7. Insurance Requirements: Detailed insurance obligations when specific coverage is required

8. Force Majeure: Added when specific provisions for unforeseen circumstances are needed

Suggested Schedules

1. Schedule 1: Property Description: Detailed description of property including surveys and plans

2. Schedule 2: Payment Schedule: Detailed breakdown of payment terms and installments

3. Schedule 3: Title Documents: List of all title documents and certificates

4. Schedule 4: Property Condition Report: Current condition of property and any known defects

5. Schedule 5: Required Permits: List of necessary permits and approvals

6. Appendix A: Property Photos: Recent photographs of the property

7. Appendix B: Land Documents: Copies of relevant land registry documents

8. Appendix C: Due Diligence Reports: Results of property and title investigations

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 legal definitions
Clauses
Relevant Industries

Real Estate

Construction

Property Development

Banking and Finance

Hospitality

Retail

Commercial Property

Industrial Property

Agricultural Land Development

Urban Development

Relevant Teams

Legal

Real Estate

Property Management

Facilities Management

Finance

Compliance

Commercial

Business Development

Operations

Risk Management

Relevant Roles

Real Estate Manager

Property Developer

Legal Counsel

Contract Manager

Property Manager

Facilities Manager

Commercial Director

Chief Financial Officer

Investment Manager

Compliance Officer

Real Estate Agent

Development Director

Project Manager

Land Administrator

Real Estate Attorney

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

Find the exact document you need

Real Estate On Contract

A Nigerian law-governed agreement establishing terms and conditions for real estate transactions, ensuring compliance with local property laws and regulations.

find out more

Private Party Auto Purchase Agreement

A Nigerian-compliant legal agreement for the private sale and purchase of motor vehicles between individuals.

find out more

Real Estate Contract Of Sale

A Nigerian law-governed agreement for the sale and transfer of real estate property, compliant with the Land Use Act requirements.

find out more

For Sale By Owner House Contract

A legal contract for direct property sale between private parties in Nigeria, compliant with Nigerian property law and the Land Use Act.

find out more

Residential Contract For Sale And Purchase

A Nigerian law-governed agreement for the sale and purchase of residential property, establishing terms and conditions for property transfer while ensuring compliance with local regulations.

find out more

Real Estate Sales Contract For Sale By Owner

A legal agreement for direct property sales between owners and buyers in Nigeria, complying with federal and state property laws including the Land Use Act.

find out more

Agreement Of Purchase And Sale Condominium

A comprehensive legal agreement for condominium purchase and sale in Nigeria, compliant with federal and state property laws.

find out more

Sale Contract Agreement

A Nigerian law-governed agreement that establishes the terms and conditions for the sale of goods between a seller and buyer.

find out more

Purchase And Sale Agreement Wholesaling

A Nigerian law-governed agreement for wholesale purchase and sale transactions, establishing terms for bulk trading between businesses.

find out more

Letter Of Intent To Sell House

A preliminary document under Nigerian law outlining the basic terms and conditions for a proposed house sale, serving as a formal expression of intent between buyer and seller.

find out more

Purchase And Sale Agreement Oil And Gas

A Nigerian law-governed agreement for the sale and purchase of oil and gas assets, incorporating local regulatory requirements and industry standards.

find out more

Equipment Purchase And Sale Agreement

A Nigerian law-governed agreement establishing terms and conditions for equipment purchase and sale, including specifications, pricing, delivery, and warranties.

find out more

Land Purchase Contract

A Nigerian law-governed agreement for the transfer of land ownership from seller to buyer, complying with the Land Use Act and local property regulations.

find out more

Car Sell Agreement

A Nigerian law-governed agreement for the sale and purchase of a motor vehicle, detailing transaction terms and ownership transfer requirements.

find out more

Download our whitepaper on the future of AI in Legal

By providing your email address you are consenting to our Privacy Notice.
Thank you for downloading our whitepaper. This should arrive in your inbox shortly. In the meantime, why not jump straight to a section that interests you here: https://www.genieai.co/our-research
Oops! Something went wrong while submitting the form.

Genie’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; Genie’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

Our bank-grade security infrastructure undergoes regular external audits

We are ISO27001 certified, so your data is secure

Organizational security

You retain IP ownership of your documents

You have full control over your data and who gets to see it

Innovation in privacy:

Genie partnered with the Computational Privacy Department at Imperial College London

Together, we ran a £1 million research project on privacy and anonymity in legal contracts

Want to know more?

Visit our Trust Centre for more details and real-time security updates.