The Bill of Sale for Real Estate Property is a crucial legal document used in Nigerian property transactions to formalize and evidence the transfer of real estate ownership. This document is essential when any real property is being sold and transferred from one party to another within Nigeria's jurisdiction. It must comply with the Land Use Act of 1978 and various state-specific property laws, making it a legally binding record of the transaction. The document typically includes comprehensive details about the property, parties involved, purchase price, payment terms, and warranties, while also addressing specific requirements for property registration and transfer under Nigerian law. It serves as a fundamental element in the chain of title and is often required by land registries, banks, and other institutions as proof of the property transfer.
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1. Parties: Identifies and provides full details of the Seller and Buyer, including names, addresses, and contact information
2. Background: Context of the sale and confirmation of the Seller's right to sell the property
3. Definitions: Defines key terms used throughout the document
4. Property Description: Detailed description of the real estate property being sold, including physical address, land area, and boundaries
5. Purchase Price: States the agreed purchase price and payment terms
6. Seller's Representations and Warranties: Seller's declarations regarding property ownership, absence of encumbrances, and authority to sell
7. Title and Registration: Details about the property's title and requirements for registration transfer
8. Completion and Transfer: Specifics about the completion date and process for transferring ownership
9. Possession: Terms regarding when and how possession of the property will be transferred
10. Governing Law: Confirms Nigerian law as governing law and relevant jurisdiction
11. Execution: Signature blocks and execution requirements
1. Existing Tenancies: Details of any existing tenants and lease agreements that will transfer with the property
2. Environmental Matters: Declarations regarding environmental conditions or hazards, if relevant
3. Planning Permissions: Details of existing planning permissions or restrictions, if any
4. Service Contracts: Information about ongoing service contracts that may transfer with the property
5. Property Contents: List of fixtures, fittings, or furniture included in the sale
6. Special Conditions: Any unique terms or conditions specific to this property transaction
7. Tax Matters: Special tax considerations or obligations related to the property transfer
1. Property Details Schedule: Comprehensive technical description of the property, including exact measurements, boundaries, and registered title information
2. Title Documents: Copies of relevant title documents and land certificates
3. Property Plans: Survey plans, building plans, and other relevant property drawings
4. Inventory: Detailed list of any fixtures, fittings, or contents included in the sale
5. Due Diligence Documents: Copies of property searches, tax clearance certificates, and other due diligence documents
6. Payment Schedule: If payment is to be made in installments, detailed payment schedule and terms
7. Photographs: Recent photographs of the property and its boundaries
Relevant legal definitions
Agreement
Property
Land
Completion Date
Purchase Price
Seller
Buyer
Title Documents
Encumbrances
Certificate of Occupancy
Governor's Consent
Completion
Business Day
Effective Date
Improvements
Land Registry
Legal Interest
Possession Date
Property Rights
Purchase Deed
Registration Fees
Stamp Duty
Survey Plan
Transfer Documents
Warranties
Fixtures and Fittings
Due Diligence
Permitted Use
Planning Laws
Local Government Authority
Force Majeure
Material Adverse Effect
Closing
Default
Deposit
Property
Land
Completion Date
Purchase Price
Seller
Buyer
Title Documents
Encumbrances
Certificate of Occupancy
Governor's Consent
Completion
Business Day
Effective Date
Improvements
Land Registry
Legal Interest
Possession Date
Property Rights
Purchase Deed
Registration Fees
Stamp Duty
Survey Plan
Transfer Documents
Warranties
Fixtures and Fittings
Due Diligence
Permitted Use
Planning Laws
Local Government Authority
Force Majeure
Material Adverse Effect
Closing
Default
Deposit
Clauses
Identification of Parties
Property Description
Purchase Price
Payment Terms
Title Transfer
Representations and Warranties
Property Inspection
Due Diligence
Seller's Covenants
Buyer's Covenants
Completion
Registration
Transfer of Possession
Insurance
Risk Transfer
Condition of Property
Encumbrances
Title Guarantee
Environmental Matters
Planning and Zoning
Existing Tenancies
Default
Remedies
Force Majeure
Notices
Governing Law
Dispute Resolution
Severability
Entire Agreement
Assignment
Costs and Expenses
Stamp Duty
Further Assurance
Survival
Amendment
Property Description
Purchase Price
Payment Terms
Title Transfer
Representations and Warranties
Property Inspection
Due Diligence
Seller's Covenants
Buyer's Covenants
Completion
Registration
Transfer of Possession
Insurance
Risk Transfer
Condition of Property
Encumbrances
Title Guarantee
Environmental Matters
Planning and Zoning
Existing Tenancies
Default
Remedies
Force Majeure
Notices
Governing Law
Dispute Resolution
Severability
Entire Agreement
Assignment
Costs and Expenses
Stamp Duty
Further Assurance
Survival
Amendment
Relevant Industries
Real Estate
Construction
Banking and Finance
Legal Services
Property Development
Urban Planning
Hospitality
Retail
Commercial Property
Industrial Property
Agricultural Land
Residential Property
Relevant Teams
Legal
Real Estate
Property Management
Facilities
Compliance
Risk Management
Corporate Services
Investment
Operations
Documentation
Relevant Roles
Real Estate Lawyer
Property Manager
Real Estate Agent
Legal Counsel
Conveyancing Officer
Property Developer
Land Administrator
Estate Surveyor
Company Director
Facilities Manager
Investment Manager
Property Valuer
Compliance Officer
Real Estate Investment Officer
Title Registration Officer
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