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Joint Venture Agreement Between Builder And Landowner

Joint Venture Agreement Between Builder And Landowner Template for Nigeria

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Key Requirements PROMPT example:

Joint Venture Agreement Between Builder And Landowner

"I need a Joint Venture Agreement between my construction company and a landowner for developing a commercial complex in Lagos, with a 60-40 profit split and construction scheduled to begin in March 2025."

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Document background
The Joint Venture Agreement Between Builder And Landowner is a crucial document in Nigerian property development, typically used when a landowner wishes to maximize the value of their land through development but lacks construction expertise or capital, while a builder seeks development opportunities without the initial land acquisition costs. This agreement structure is particularly common in Nigeria's major urban centers where land values are high and development opportunities are sought after. The document must comply with the Nigerian Land Use Act 1978, CAMA 2020, and various construction and environmental regulations. It details the parties' contributions, profit-sharing mechanisms, construction specifications, timelines, and risk allocation, while incorporating necessary safeguards for both parties. The agreement is especially relevant in the current Nigerian real estate market where joint ventures are increasingly used to facilitate property development while managing risks and resources effectively.
Suggested Sections

1. Parties: Identification and details of the Landowner and Builder, including their registered addresses and registration numbers if companies

2. Background: Context of the agreement, including brief description of the land and proposed development

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

4. Joint Venture Formation: Establishment of the joint venture, its purpose and duration

5. Contributions of Parties: Detailed specification of what each party brings to the venture - land from Landowner, expertise and resources from Builder

6. Project Scope: Detailed description of the development project, including type of construction and timeline

7. Rights and Obligations: Specific responsibilities and rights of each party throughout the project

8. Profit Sharing and Financial Arrangements: Distribution of profits, losses, and other financial considerations

9. Management and Control: Decision-making processes and day-to-day management of the project

10. Construction Timeline and Milestones: Specific stages of construction and completion dates

11. Quality Standards: Construction and material standards to be maintained

12. Title and Ownership: Ownership rights during and after project completion

13. Insurance and Liability: Required insurance coverage and allocation of risks

14. Term and Termination: Duration of agreement and circumstances for termination

15. Dispute Resolution: Procedures for resolving disputes between parties

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

17. Notices: Process for formal communications between parties

18. Boilerplate Clauses: Standard contractual provisions including force majeure, entire agreement, etc.

Optional Sections

1. Environmental Compliance: Specific environmental obligations and commitments, included when project has significant environmental impact

2. Community Relations: Provisions for managing local community relationships, included for projects in sensitive community areas

3. Marketing and Branding: Guidelines for marketing the completed development, included for commercial developments

4. Intellectual Property: Protection of designs and technological innovations, included when unique architectural or construction methods are involved

5. Financing Arrangements: Details of external financing if required, included when project involves third-party funding

6. Exit Strategy: Detailed procedures for party exit, included for long-term or complex projects

7. Force Majeure Extensions: Extended force majeure provisions, included in areas prone to specific risks

8. Anti-Corruption Compliance: Specific anti-corruption provisions, included for high-value projects or when required by stakeholders

Suggested Schedules

1. Land Title Documents: Copies of land ownership documents and surveys

2. Project Specifications: Detailed technical specifications of the construction project

3. Construction Timeline: Detailed timeline with specific milestones and completion dates

4. Financial Model: Detailed financial projections and profit-sharing calculations

5. Building Permits and Approvals: Copies of all required governmental and regulatory approvals

6. Architectural Plans: Approved architectural drawings and designs

7. Quality Standards Specification: Detailed quality standards and materials specifications

8. Insurance Requirements: Detailed insurance requirements and certificates

9. Management Structure: Organizational chart and management procedures

10. Environmental Impact Assessment: Environmental impact studies and mitigation measures

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions













































Clauses








































Relevant Industries

Real Estate

Construction

Property Development

Architecture

Civil Engineering

Urban Planning

Legal Services

Financial Services

Environmental Services

Project Management

Relevant Teams

Legal

Real Estate

Construction

Project Management

Business Development

Finance

Compliance

Risk Management

Operations

Property Development

Relevant Roles

Chief Executive Officer

Managing Director

Property Developer

Construction Manager

Project Manager

Real Estate Lawyer

Land Surveyor

Architect

Quantity Surveyor

Civil Engineer

Financial Director

Legal Counsel

Business Development Manager

Risk Manager

Environmental Compliance Officer

Urban Planning Officer

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

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