Vehicle Release Of Liability Form Template for Nigeria

The Vehicle Release of Liability Form is a crucial legal document used in Nigeria when transferring ownership of a vehicle to protect the original owner from future claims or liabilities. This document becomes necessary whenever a vehicle is sold, transferred, or permanently disposed of, whether in private sales, commercial transactions, or corporate fleet disposals. It includes detailed information about the vehicle, parties involved, and specific terms of the liability release, all structured to comply with Nigerian federal and state regulations. The form serves as evidence that the original owner is no longer responsible for any incidents, accidents, or legal issues involving the vehicle after the specified transfer date. It's particularly important in the Nigerian context where vehicle-related liabilities can have significant legal and financial implications, and proper documentation is essential for protecting all parties involved in the transaction.

1. Parties: Identifies and provides full details of the Releasor (current owner/seller) and Releasee (buyer/new owner), including names, addresses, and contact information

2. Background: Brief context explaining the purpose of the release and the transaction taking place

3. Definitions: Defines key terms used throughout the document including 'Vehicle', 'Liability', 'Effective Date', and other relevant terms

4. Vehicle Information: Detailed description of the vehicle including make, model, year, VIN, registration number, and current mileage

5. Release Terms: Core terms of the liability release, specifying what liabilities are being released and from what date

6. Representations and Warranties: Statements by both parties regarding vehicle condition, ownership, and authority to enter into the agreement

7. Governing Law: Specifies that Nigerian law governs the agreement and relevant jurisdiction

8. Execution: Signature blocks for all parties, including witness requirements and date of signing