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1. Parties: Identification of all co-owners with their full legal names, addresses, and contact information
2. Background: Context of the agreement, including property acquisition and purpose of the co-ownership arrangement
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Details: Full legal description of the property, including title information and registration details
5. Ownership Interests: Specification of each co-owner's percentage share in the property
6. Rights and Obligations: General rights and responsibilities of co-owners, including use of property and decision-making processes
7. Property Management: Procedures for day-to-day management, maintenance, and improvements
8. Financial Obligations: Cost sharing arrangements, including maintenance, taxes, and utilities
9. Transfer of Interests: Rules regarding sale, transfer, or encumbrance of ownership interests
10. Death of Co-owner: Procedures and rights in the event of a co-owner's death
11. Dispute Resolution: Process for resolving conflicts between co-owners
12. Termination: Conditions and procedures for terminating the agreement
13. Governing Law: Specification of Nigerian law and relevant state jurisdiction
14. Execution: Signature blocks and attestation requirements
1. Property Usage Schedule: Used when co-owners need specific arrangements for sharing time or space in the property
2. Property Manager Appointment: Include when a third-party property manager will be appointed
3. Right of First Refusal: Optional clause giving co-owners first right to purchase if one party wishes to sell
4. Insurance Requirements: Detailed insurance obligations when specific coverage is needed
5. Mortgage Provisions: Include when the property is or will be subject to a mortgage
6. Business Use Provisions: Include when the property may be used for business purposes
7. Environmental Compliance: Include for properties with specific environmental concerns or requirements
1. Schedule A - Property Description: Detailed legal description of the property including plans and surveys
2. Schedule B - Ownership Percentages: Detailed breakdown of ownership shares and initial capital contributions
3. Schedule C - Financial Contributions: Record of initial and ongoing financial contributions by each co-owner
4. Schedule D - Management Procedures: Detailed procedures for property management and decision-making
5. Appendix 1 - Property Title Documents: Copies of relevant title documents and registration certificates
6. Appendix 2 - Condition Report: Initial condition report of the property at the time of agreement
Property
Co-owners
Ownership Interest
Tenancy in Common
Common Areas
Certificate of Occupancy
Land Use Act
Property Manager
Management Committee
Operating Expenses
Capital Improvements
Transfer
Encumbrance
Right of First Refusal
Fair Market Value
Maintenance Costs
Common Charges
Governor's Consent
Property Taxes
Default
Force Majeure
Effective Date
Governing Law
Initial Contribution
Major Decisions
Permitted Use
Registration
State Land Registry
Successor in Interest
Definitions
Property Description
Ownership Interests
Rights and Obligations
Property Management
Financial Contributions
Operating Expenses
Decision Making
Transfer Restrictions
Right of First Refusal
Death or Incapacity
Property Maintenance
Insurance
Improvements
Default and Remedies
Dispute Resolution
Force Majeure
Termination
Succession
Registration and Compliance
Notices
Amendment
Severability
Entire Agreement
Governing Law
Assignment
Indemnification
Representations and Warranties
Dissolution
Real Estate
Property Development
Real Estate Investment
Agriculture
Commercial Property
Residential Property
Industrial Property
Hospitality
Retail
Mixed-Use Development
Legal
Real Estate
Property Management
Facilities Management
Investment
Corporate Affairs
Compliance
Operations
Asset Management
Real Estate Lawyer
Property Manager
Real Estate Agent
Investment Manager
Property Developer
Legal Counsel
Land Administrator
Estate Manager
Property Investment Advisor
Facilities Manager
Corporate Lawyer
Real Estate Investment Manager
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