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Sample Of Land Purchase Agreement In Nigeria

A land purchase contract is normally referred to as a “contract of sale” or a “contract of sale”. It can be easy with little information, or it can be detailed that contains all the future information and commitments of the parties regarding the country to be acquired. It is important to note that if one of the parties is in arrears with the terms agreed in the land sale contract, the contract may be terminated in accordance with the provisions contained therein. You need information from buyers and sellers. You also need to know the details of the property of interest. They must have the size of the country, location, local government (LGA) and state in Nigeria. The purchase price is the essential element of the land purchase contract and should be clearly stated in the contract. You should also include the purchase price of the property with other conditions of sale. Seller has agreed to exempt Buyer from any claims, claims, disruptions or interruptions that may result from a lack of rights/property rights of buyer over the owner of the land.

On the other hand, the buyer must undertake to pay in full for the land when the purchase price must be paid in instalments. The buyer must also undertake to comply with all other obligations provided for in the contract. Mba 805: Management and Accounting Course Evolution Course Developer Mr. taiwo asaolu o. a. u, ile ife Unit Author: Program Director: dr. o. onwe Substantiv, lagos. Course coordinator: mr, m.a.

gana Noun, lagos. National Open University of Nigeria. In summary, a sales contract is the first document drawn up for a land purchase. When the buyer has made full payment, the parties may prepare and execute the deed of assignment, also known as the instrument of transmission. The method of payment of the purchase price must also be indicated, either in full or in instalments. This document protects the parties to the treaty because it contains conditions to which the parties have expressly consented and neither party can terminate the treaty without being held responsible for an infringement. . . .