Document background
The Land For Sale By Owner Contract is a crucial document used in Nigerian real estate transactions where property owners wish to sell their land directly to buyers without using a real estate agency. This type of agreement is governed by the Land Use Act of 1978 and various state land laws in Nigeria, requiring specific formatting and content to ensure legal compliance and enforceability. The document is particularly important in a jurisdiction where land ownership and transfer are subject to both statutory and customary law considerations. It must include detailed property descriptions, clear payment terms, and specific provisions for obtaining necessary governmental consents for the transfer. The contract serves as the primary instrument for documenting the transaction terms, rights, and obligations of both parties, while ensuring compliance with local land registration requirements.
