Simple Land Purchase Agreement Template for Nigeria

The Simple Land Purchase Agreement is a fundamental legal instrument used in Nigerian property transactions to document the transfer of land ownership rights. This document is essential when acquiring any type of land in Nigeria, whether for residential, commercial, or industrial purposes. It must comply with the Land Use Act 1978, which vests all land in the state governors, and relevant state-specific land laws. The agreement typically includes detailed property descriptions, price and payment terms, warranties of title, and provisions for obtaining necessary governmental approvals. It serves as the primary evidence of the transaction and forms the basis for subsequent title registration and governor's consent applications, which are mandatory requirements in Nigerian land transactions.

1. Parties: Identification of the Vendor and Purchaser with full legal names, addresses, and contact details

2. Background: Brief context of the transaction and confirmation of the Vendor's right to sell the property

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

4. Property Description: Detailed description of the land being sold, including boundaries, measurements, and registration particulars

5. Purchase Price: The agreed purchase price and payment terms including deposit and completion payment details

6. Conditions Precedent: Conditions that must be satisfied before completion, including title verification and governor's consent requirements

7. Vendor's Representations and Warranties: Vendor's declarations regarding ownership, absence of encumbrances, and authority to sell

8. Completion: Details of the completion process, including timing, location, and documents to be delivered

9. Title Documents: List of title documents to be handed over and the process for their transfer

10. Costs: Allocation of transaction costs including registration fees, stamp duty, and legal fees

11. Risk and Insurance: Transfer of risk and responsibility for the property

12. Notices: Process and addresses for serving formal notices under the agreement

13. Governing Law: Confirmation that Nigerian law governs the agreement

14. Execution: Signature blocks and execution formalities