Document background
A Purchase Deed is essential for documenting and effectuating the transfer of property ownership in Nigeria. This formal legal instrument is used when transferring any type of real property, whether residential, commercial, or industrial. The document must comply with the Land Use Act 1978 and other relevant Nigerian legislation, requiring specific formalities such as Governor's consent, proper stamping, and registration at the land registry. The Purchase Deed includes crucial information such as property details, party information, consideration amount, warranties, and title covenants. It serves as permanent evidence of the transfer and is particularly important in Nigeria's legal system where documentary evidence of land ownership is paramount. The deed must be carefully drafted to ensure it meets all statutory requirements and provides adequate protection for both parties.
