Sell Land Contract Template for Nigeria

The Sell Land Contract is a crucial legal document used in Nigerian property transactions to formalize and execute the sale of land between parties. This document is essential when transferring land ownership rights in Nigeria, where all land is technically held in trust by state governors under the Land Use Act of 1978. The contract must incorporate specific provisions required by Nigerian law, including obtaining Governor's consent for the transaction, proper land registration, and compliance with state-specific land regulations. It is typically used in both private and commercial land transactions, covering various types of land from residential to commercial and agricultural properties. The document includes comprehensive details about the property, parties involved, purchase price, payment terms, warranties, and completion requirements, while ensuring compliance with both statutory and customary law considerations where applicable.

1. Parties: Identification and details of the Vendor and Purchaser, including their full names, addresses, and contact information

2. Background: Context of the transaction, including brief history of ownership and current status of the property

3. Definitions: Key terms used throughout the agreement, including 'Property', 'Completion Date', 'Purchase Price', etc.

4. Sale and Purchase: Core agreement to sell and purchase the property, including the basic terms

5. Purchase Price: Detailed breakdown of the purchase price and payment terms

6. Conditions Precedent: Required conditions to be met before completion, including Governor's consent requirements

7. Vendor's Representations and Warranties: Vendor's guarantees regarding property title, encumbrances, and legal status

8. Completion Requirements: Details of what must occur at completion, including document delivery and registration

9. Title and Registration: Provisions regarding transfer of title and registration requirements

10. Risk and Insurance: Allocation of risk and insurance requirements before and after completion

11. Default and Remedies: Consequences of breach and available remedies for either party

12. Notices: Process for giving formal notices under the agreement

13. Governing Law and Jurisdiction: Specification of Nigerian law as governing law and jurisdiction for disputes

14. Execution: Signature blocks and execution requirements