A Tenancy in Common Agreement is essential when multiple parties wish to own property together while maintaining separate, transferable interests in Nigeria. This document is particularly crucial given Nigeria's unique land tenure system under the Land Use Act and various state property laws. The agreement details each co-owner's undivided share, rights, and obligations, while ensuring compliance with local registration requirements and property regulations. It's commonly used for both residential and commercial properties, providing clear guidelines for property management, cost sharing, and interest transfers. The document should be used whenever two or more parties intend to purchase property together but want to maintain individual ownership rights and the ability to transfer their interests independently.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Your data doesn't train Genie's AI
You keep IP ownership of your docs
Alternatively...
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
Authors
Find the document you need
Business Agreement
A legally binding document under Nigerian law that establishes terms and conditions for business relationships between parties, ensuring compliance with local regulations and protecting all parties' interests.
Download
House Rent Agreement Form
A Nigerian law-compliant agreement establishing terms and conditions for residential property rental between landlord and tenant.
Download
Consignment Agreement Form
A Nigerian law-governed agreement establishing terms for consignment sales arrangements, detailing rights and obligations of consignor and consignee.
Download
Standard Form Contract
A standardized contract template compliant with Nigerian law, designed for repeated use in similar business transactions.
Download
Money Agreement Between Two Parties
A Nigerian law-governed agreement establishing terms and conditions for a monetary loan between two parties, including loan amount, interest rates, and repayment terms.
Download
Incorporation Agreement
A Nigerian law-governed agreement establishing a new company's structure, shareholding, and governance framework under CAMA 2020.
Download
Fixed Term Tenancy Agreement
A Nigerian law-governed agreement establishing terms and conditions for fixed-term property rental, defining rights and obligations of landlord and tenant.
Download
Boilerplate Agreement
A versatile Boilerplate Agreement template under Nigerian law, providing standardized terms for business relationships while ensuring compliance with local legal requirements.
Download
Representation Agreement
A Nigerian law-governed agreement establishing and regulating the relationship between a principal and their appointed representative, defining authority, terms, and obligations.
Download
Land Agreement Between Two Parties
A Nigerian law-governed agreement for land transfer between two parties, ensuring compliance with the Land Use Act and state regulations.
Download
Contract Agreement Between Two Parties
A standard Nigerian law-compliant contract agreement template for establishing legal relationships between two parties, incorporating all essential elements required under Nigerian contract law.
Download
Buyer Agency Agreement
A Nigerian law-governed agreement establishing the terms and conditions under which a real estate agent represents a buyer in property transactions.
Download
Security Agreement Form
A Nigerian law-governed agreement creating and evidencing security interests over assets, establishing rights and obligations between security provider and holder.
Download
House Construction Agreement Between Owner Contractor
A Nigerian law-governed agreement between property owner and contractor for residential house construction, defining work scope, terms, and obligations.
Download
Lodger Agreement
A Nigerian law-governed agreement establishing terms for a lodger's occupation of a room in an owner-occupied property.
Download
Supply Contract Form
A Nigerian law-governed contract template establishing terms and conditions for the supply of goods between commercial parties.
Download
Bike Sale Agreement
A Nigerian law-governed agreement for the sale and purchase of a bike, ensuring legal compliance and protecting both parties' interests.
Download
Share Purchase Agreement
A Nigerian law-governed agreement documenting the terms and conditions for the sale and purchase of shares in a company, including price, warranties, and completion requirements.
Download
Work Contract
A Nigerian law-governed employment agreement establishing terms and conditions between employer and employee, ensuring compliance with local labor legislation.
Download
Vendor Services Agreement
Nigerian law-governed agreement defining terms and conditions for vendor service provision, including scope, payment, and performance standards.
Download
Vendor Contract
A Nigerian law-governed agreement establishing terms and conditions between a customer and vendor for the supply of goods/services.
Download
Vending Machine Agreement
A Nigerian law agreement governing the installation and operation of vending machines, including revenue sharing and operational requirements.
Download
Vehicle Agreement Between Two Parties
A legally binding vehicle sale and purchase agreement between two parties under Nigerian law, documenting transfer terms and ownership rights.
Download
Tripartite Contract
A Nigerian law-governed tripartite contract establishing legal relationships and obligations between three parties in a commercial arrangement.
Download
Transfer Of Ownership Agreement
A legally binding agreement for transferring property ownership rights between parties under Nigerian law, ensuring compliance with local property regulations and registration requirements.
Download
Transfer Of Business Ownership Agreement
A Nigerian law-governed agreement facilitating the complete transfer of business ownership between parties, ensuring compliance with local regulations and protecting all stakeholders' interests.
Download
Tender Agreement
A Nigerian law-governed agreement that establishes the framework and conditions for competitive bidding processes in public procurement.
Download
Tenant Contract
A Nigerian law-compliant agreement establishing terms and conditions between landlord and tenant for property rental, incorporating federal and state-specific tenancy regulations.
Download
Tenancy In Common Agreement
A Nigerian law-compliant agreement establishing property co-ownership rights and responsibilities under a Tenancy in Common arrangement.
Download
Teaming Agreement
A Nigerian law-governed agreement establishing collaboration terms between parties for joint project pursuit or business opportunities.
Download
Suretyship Agreement
A Nigerian law-governed agreement where a surety guarantees the obligations of a principal debtor to a creditor, establishing terms and enforcement mechanisms.
Download
Supplier Agreement
A Nigerian law-governed agreement establishing terms and conditions for the supply of goods/services between a supplier and customer.
Download
Subscription Contract
Nigerian law-compliant subscription contract template for establishing ongoing service relationships between providers and subscribers.
Download
Simple Construction Contract
A simplified construction contract template for small to medium projects in Nigeria, incorporating essential legal requirements and industry standards.
Download
Simple Commercial Lease Agreement
A Nigerian law-governed agreement establishing terms and conditions for commercial property lease between landlord and tenant.
Download
Storage Agreement
A Nigerian law-governed agreement establishing terms and conditions between a storage facility provider and customer for the storage of goods or materials.
Download
Software Development Contract
A Nigerian-law governed agreement for software development services, defining development scope, deliverables, and mutual obligations between developer and client.
Download
Share Pledge Agreement
A Nigerian law-governed agreement creating a security interest over shares as collateral for secured obligations.
Download
Standard Non Compete Agreement
A Nigerian law-governed agreement that restricts competitive activities and protects business interests through specific non-compete obligations.
Download
Software As A Service Agreement
A Nigerian law-governed agreement for the provision of subscription-based software services, ensuring compliance with local data protection and cybersecurity regulations.
Download
Genie’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your data is private:
We do not train on your data; Genie’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
