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Partial Lien Release

Partial Lien Release Template for Nigeria

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Key Requirements PROMPT example:

Partial Lien Release

"I need a Partial Lien Release document for a manufacturing facility in Lagos, Nigeria, where we're releasing 2 hectares from a 10-hectare property that's currently under a bank lien, with the release to be effective from March 15, 2025."

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Document background
The Partial Lien Release is a crucial document in Nigerian property and finance transactions, particularly when a property owner needs to release specific portions of encumbered property while maintaining the original lien on the remaining portion. This situation commonly arises in property development, partial property sales, or when refinancing specific portions of a larger property. The document must comply with Nigerian property laws, including the Land Use Act 1978 and relevant state property laws. A Partial Lien Release typically includes detailed property descriptions, reference to the original lien, and specific terms of the release. It requires proper execution and registration with relevant Nigerian authorities to be legally effective. This document is particularly important in Nigeria's growing real estate and development sectors, where large land parcels are frequently subdivided and developed in phases.
Suggested Sections

1. Identification of Parties: Names and details of the Lien Holder (Creditor) and the Property Owner (Debtor)

2. Recitals: Background information including reference to the original lien, its recording details, and the reason for partial release

3. Definitions: Key terms used in the document, including property descriptions, relevant dates, and technical terms

4. Release Statement: Formal statement releasing the specified portion of the property from the lien

5. Property Description: Detailed legal description of the specific portion of property being released from the lien

6. Reservation of Rights: Statement confirming that the lien remains in full force and effect on the unreleased portion of the property

7. Execution: Signature blocks, notarization requirements, and date of execution

Optional Sections

1. Consideration: Section detailing any payment or consideration given for the partial release, if applicable

2. Representations and Warranties: Additional assurances from either party regarding the released property, used when there are specific concerns about the property status

3. Recording Instructions: Specific instructions for recording the partial release, included when special recording requirements exist

4. Return of Documents: Instructions for returning recorded documents, included when multiple parties need copies

5. Tax Provisions: References to relevant tax matters, included when the release has tax implications

Suggested Schedules

1. Schedule A - Released Property Description: Detailed technical or survey description of the property being released

2. Schedule B - Remaining Property Description: Detailed description of the property remaining under lien

3. Schedule C - Original Lien Documentation: Copies or references to the original lien documentation

4. Appendix 1 - Property Maps/Surveys: Visual representations of the released and remaining property portions

5. Appendix 2 - Recording Information: Details of original lien recording and related documents

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

Banking and Finance

Construction

Property Development

Infrastructure

Oil and Gas

Manufacturing

Agriculture

Mining

Commercial Property

Relevant Teams

Legal

Real Estate

Finance

Risk Management

Property Management

Credit Administration

Commercial Operations

Corporate Secretariat

Compliance

Property Development

Relevant Roles

Real Estate Manager

Property Lawyer

Finance Manager

Credit Officer

Mortgage Officer

Property Development Manager

Legal Counsel

Risk Manager

Company Secretary

Commercial Director

Land Administrator

Property Rights Officer

Collateral Manager

Title 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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