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Land Buying Agreement

Land Buying Agreement Template for Nigeria

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Key Requirements PROMPT example:

Land Buying Agreement

"I need a Land Buying Agreement for purchasing a 2-hectare commercial plot in Lagos State, with completion scheduled for March 2025 and including provisions for staged payments over 3 months."

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Document background
The Land Buying Agreement is a crucial document in Nigerian real estate transactions, designed to facilitate the legal transfer of land ownership while ensuring compliance with federal and state regulations. It is used when any individual or entity wishes to purchase land in Nigeria, requiring careful consideration of the Land Use Act 1978, which vests all land in the state governors. The agreement must address unique aspects of Nigerian land law, including obtaining governor's consent, proper registration, and respecting traditional land rights where applicable. This document is essential for documenting the terms of sale, protecting both parties' interests, and ensuring the transaction meets all legal requirements for land transfer in Nigeria. It typically includes comprehensive property details, payment terms, warranties, and necessary government approvals.
Suggested Sections

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

2. Background: Context of the transaction including brief description of the property and intention to sell/purchase

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

4. Property Details: Comprehensive description of the land including boundaries, measurements, and registration details

5. Purchase Price: The agreed price and payment terms including deposit and balance payment schedule

6. Conditions Precedent: Conditions that must be met before the sale can proceed, including title verification and government approvals

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

8. Completion: Process and requirements for completing the transaction, including documentation and handover procedures

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

10. Costs and Taxes: Allocation of transaction costs, stamp duties, and registration fees

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

Optional Sections

1. Development Restrictions: Include when the land is subject to specific development restrictions or zoning requirements

2. Environmental Provisions: Include when environmental assessments or specific environmental obligations are required

3. Traditional Rights: Include when the land is subject to traditional or community rights that need to be addressed

4. Agricultural Use: Include when the land is agricultural and subject to specific usage requirements

5. Mining Rights: Include when mineral rights need to be specifically addressed

6. Access Rights: Include when there are specific provisions needed for access to the property

7. Future Development: Include when there are specific plans or restrictions for future development

Suggested Schedules

1. Property Description Schedule: Detailed technical description of the property including survey plans and coordinates

2. Title Documents: List of all title documents and historical ownership records

3. Payment Schedule: Detailed breakdown of payment terms and installments if applicable

4. Land Use Approvals: Copies of relevant government approvals and permits

5. Survey Plan: Official survey plan and property measurements

6. Photographs: Recent photographs of the property and its boundaries

7. Environmental Reports: Any environmental assessment reports if applicable

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

Agriculture

Construction

Mining

Manufacturing

Infrastructure Development

Retail

Hospitality

Industrial

Commercial Development

Residential Development

Relevant Teams

Legal

Real Estate

Property Development

Facilities Management

Business Development

Operations

Compliance

Investment

Project Management

Corporate Affairs

Land Administration

Relevant Roles

Real Estate Manager

Property Developer

Legal Counsel

Land Administrator

Facilities Manager

Business Development Manager

Investment Manager

Project Manager

Corporate Lawyer

Compliance Officer

Property Acquisition Manager

Estate Surveyor

Construction Manager

Operations Director

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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