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1. Parties: Identification of the Owner/Seller and Tenant/Buyer with complete legal names and addresses
2. Background: Context of the agreement, including property ownership status and parties' intentions regarding the lease-to-own arrangement
3. Definitions: Key terms used throughout the agreement including Property, Lease Period, Purchase Price, Option Fee, etc.
4. Property Description: Detailed description of the property including address, boundaries, and registration details
5. Lease Terms: Duration of lease, monthly payment amounts, and allocation between rent and purchase credit
6. Purchase Option: Terms of the purchase option, including option fee, exercise period, and purchase price calculation
7. Payment Terms: Details of all payments including rent, option fees, purchase price, and payment methods
8. Maintenance and Repairs: Responsibilities for property maintenance during the lease period
9. Insurance and Property Taxes: Requirements for property insurance and responsibility for property taxes
10. Default and Remedies: Consequences of default by either party and available remedies
11. Property Transfer: Process and requirements for final property transfer upon option exercise
12. Governing Law: Specification of Nigerian law and relevant jurisdiction
13. Termination: Conditions and process for agreement termination
14. Notices: Methods and addresses for formal communications between parties
1. Property Management: Include when the property is part of a managed complex or estate, detailing management rules and fees
2. Subletting Prohibition: Include when subletting needs to be explicitly prohibited during the lease period
3. Environmental Matters: Include for properties in environmental sensitive areas or with specific environmental concerns
4. Right of First Refusal: Include when giving the tenant priority rights if the owner receives other purchase offers
5. Home Business Use: Include when allowing or restricting business activities in the property
6. Improvements and Alterations: Include when specific rules about property modifications need to be established
7. Co-signer Requirements: Include when a guarantor or co-signer is involved in the agreement
1. Schedule 1 - Property Details: Detailed property description, including plans, boundaries, and included fixtures
2. Schedule 2 - Payment Schedule: Detailed breakdown of monthly payments, including rent portion and purchase credit portion
3. Schedule 3 - Property Condition Report: Initial condition report with photographs and notation of any existing damage
4. Schedule 4 - Maintenance Schedule: List of regular maintenance tasks and responsibilities
5. Appendix A - Required Insurance Coverage: Detailed insurance requirements and minimum coverage amounts
6. Appendix B - Property Title Documents: Copies of relevant title documents and land registration certificates
7. Appendix C - Option Exercise Form: Template form for exercising the purchase option
Property
Commencement Date
Lease Period
Option Period
Purchase Option
Option Fee
Purchase Price
Monthly Payment
Rent Component
Purchase Credit
Security Deposit
Completion Date
Default Event
Force Majeure
Improvements
Land Use Rights
Certificate of Occupancy
Maintenance
Major Repairs
Minor Repairs
Occupants
Permitted Use
Property Manager
Registration Fees
Stamp Duty
Term
Title Documents
Transfer Documents
Utilities
Wear and Tear
Working Day
Guarantor
Insurance Coverage
Property Taxes
Purchase Option Notice
Closing Costs
Default Notice
Governing Law
Local Government Authority
Grant of Lease
Purchase Option
Term and Renewal
Rent and Payment
Security Deposit
Property Use
Maintenance and Repairs
Insurance
Property Taxes
Utilities
Assignment and Subletting
Alterations and Improvements
Access Rights
Default and Remedies
Early Termination
Title Transfer
Registration
Force Majeure
Representations and Warranties
Indemnification
Notices
Dispute Resolution
Governing Law
Severability
Entire Agreement
Amendment
Property Inspection
Environmental Compliance
Right of First Refusal
Real Estate
Property Development
Financial Services
Legal Services
Property Management
Housing Finance
Construction
Residential Property
Commercial Property
Banking
Legal
Real Estate
Property Management
Finance
Compliance
Risk Management
Business Development
Operations
Asset Management
Contract Administration
Real Estate Agent
Property Manager
Legal Counsel
Property Developer
Financial Advisor
Mortgage Broker
Housing Finance Specialist
Contract Administrator
Real Estate Investment Manager
Property Rights Lawyer
Conveyancing Officer
Asset Manager
Property Portfolio Manager
Compliance Officer
Real Estate Transaction Coordinator
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