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Notice For Termination Of Leave And License Agreement Template for Nigeria

A formal notice document used in Nigeria to terminate a Leave and License Agreement, governed by Nigerian property law including the Land Use Act 1978 and relevant state-specific property legislation. This document serves as an official communication between the licensor and licensee to end the license arrangement, specifying the termination date, notice period, and conditions for vacating the premises. It includes essential details such as property identification, reference to the original agreement, vacation requirements, and procedures for final settlement, ensuring compliance with Nigerian legal requirements for property occupation termination.

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What is a Notice For Termination Of Leave And License Agreement?

The Notice For Termination Of Leave And License Agreement is a crucial legal document used in Nigerian property law when either a licensor or licensee wishes to formally end a license arrangement for property occupation. This document is essential in both commercial and residential contexts, requiring compliance with the Land Use Act 1978 and state-specific property regulations. It should be used when either party wishes to terminate the agreement according to the terms specified in the original Leave and License Agreement. The notice must include specific information such as the termination date, notice period, property details, and conditions for vacating the premises. This document is particularly important in Nigeria's property market where formal documentation is required for legal property transactions and helps prevent future disputes by clearly documenting the termination process.

What sections should be included in a Notice For Termination Of Leave And License Agreement?

1. Date and Address Block: Current date and full address details of both the licensor and licensee

2. Reference Line: Reference to the original Leave and License Agreement including its date of execution

3. Subject Line: Clear indication that this is a Notice of Termination of Leave and License Agreement

4. Agreement Details: Brief description of the original agreement, including property address and commencement date

5. Termination Statement: Clear and unambiguous statement of intention to terminate the agreement

6. Notice Period: Specification of the notice period being given and the final date of termination

7. Vacation Requirements: Details of when and how the property should be vacated

8. Closing: Formal closing, signature block, and contact information

What sections are optional to include in a Notice For Termination Of Leave And License Agreement?

1. Outstanding Payments: Section detailing any pending payments or dues to be settled before termination

2. Property Condition: Specific requirements regarding the condition in which the property must be returned

3. Key Return Process: Instructions for returning keys and access devices

4. Inspection Arrangements: Details of final property inspection arrangements

5. Security Deposit: Information about the return of security deposit and any deductions

What schedules should be included in a Notice For Termination Of Leave And License Agreement?

1. Property Inventory: List of any fixtures, fittings or items that were part of the original agreement

2. Payment Summary: Statement of any outstanding payments or financial obligations

3. Handover Checklist: Detailed list of tasks to be completed before vacating the premises

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok成人版 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents

Jurisdiction

Nigeria

Cost

Free to use

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