The Apartment Purchase Agreement is a crucial legal document used in Nigerian real estate transactions for the sale and purchase of apartment units. It is designed to comply with Nigerian property laws, including the Land Use Act of 1978 and relevant state-specific regulations. This agreement is essential when transferring ownership of an apartment unit, whether in existing buildings or off-plan developments. It covers all necessary aspects of the transaction, including property details, purchase price, payment terms, warranties, and completion requirements. The document ensures proper documentation for land registry purposes and addresses specific considerations for apartment properties such as common areas, service charges, and management arrangements. It provides legal protection for both parties and facilitates smooth property transfer in compliance with Nigerian real estate regulations.

1. Parties: Identification and details of the Seller and Purchaser, including full legal names, addresses, and registration details if companies

2. Background: Context of the transaction and brief description of the apartment being sold

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

4. Property Description: Detailed description of the apartment, including exact location, measurements, and boundaries

5. Purchase Price: The agreed purchase price and payment structure

6. Payment Terms: Detailed payment schedule, deposit requirements, and payment methods

7. Conditions Precedent: Conditions that must be met before the sale can proceed

8. Seller's Representations and Warranties: Seller's guarantees regarding property title, condition, and legal status

9. Purchaser's Representations and Warranties: Purchaser's declarations regarding financial capacity and compliance with laws

10. Completion: Process and requirements for completing the sale

11. Title Transfer: Procedures for transferring title and registration requirements

12. Risk and Insurance: Allocation of risk and insurance requirements before and after completion

13. Default and Remedies: Consequences of default by either party and available remedies

14. Notices: How formal communications between parties should be made

15. Governing Law: Specification of Nigerian law as governing law and jurisdiction

16. Execution: Signature blocks and execution requirements