The Conditional Deed of Sale of Motor Vehicle is a crucial document used in Nigerian vehicle transactions where the transfer of ownership is contingent upon fulfilling specific conditions. This document type is commonly employed when selling vehicles through installment payments or when other conditions must be met before final transfer. It provides essential protection for both parties by clearly defining the terms of sale, payment schedule, and conditions for title transfer. The deed must comply with Nigerian federal and state regulations, including requirements set by the Federal Road Safety Commission (FRSC) and relevant consumer protection laws. It includes comprehensive details about the vehicle, parties involved, payment terms, and conditions precedent, making it suitable for both private and commercial vehicle sales. The document is particularly important in Nigeria's automotive market, where conditional sales arrangements are common and require robust legal documentation to ensure enforceability and protect parties' interests.

1. Parties: Identifies and provides full details of the Seller and Buyer, including names, addresses, and contact information

2. Background: Establishes that the Seller owns the vehicle and wishes to sell it to the Buyer under specific conditions

3. Definitions: Defines key terms used throughout the deed including 'Vehicle', 'Purchase Price', 'Completion Date', 'Conditions', etc.

4. Vehicle Details: Comprehensive description of the vehicle including make, model, year, color, engine number, chassis number, and registration details

5. Sale and Purchase: Core terms of the conditional sale, including the agreed purchase price and basic conditions of the transaction

6. Payment Terms: Details of how and when payments are to be made, including deposit and installment structure if applicable

7. Conditions Precedent: Specific conditions that must be met before the sale becomes final

8. Seller's Representations and Warranties: Warranties about the vehicle's condition, ownership, and absence of encumbrances

9. Transfer of Title: Process and timing for the transfer of vehicle ownership upon fulfillment of conditions

10. Risk and Insurance: Allocation of risk and insurance requirements during the conditional sale period

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

12. Governing Law and Jurisdiction: Specifies Nigerian law as governing law and relevant jurisdiction for disputes

13. Execution: Signature blocks and execution requirements for both parties