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The Agreement For Flat Sale is a crucial legal document used in Nigerian property transactions when transferring ownership of an apartment or flat from a seller to a buyer. This agreement is essential for both residential and investment property transactions in Nigeria, requiring compliance with the Land Use Act 1978 and other relevant federal and state property laws. It provides a detailed framework for the transaction, including property specifications, payment terms, warranties, and completion procedures. The document is particularly important in Nigeria's urban centers where apartment living is common and property transactions need careful documentation to ensure legal compliance and protect all parties' interests. It incorporates necessary provisions for title verification, transfer of ownership, and registration with relevant authorities, while addressing specific requirements of Nigerian property law.

1. Parties: Identification and details of the Vendor/Seller and Purchaser/Buyer

2. Background: Recitals explaining the context of the agreement, including the Vendor's ownership/title to the property

3. Definitions: Definitions of key terms used throughout the agreement

4. Agreement to Sell and Purchase: Core agreement clause stating the Vendor's agreement to sell and the Purchaser's agreement to buy the property

5. Purchase Price: Details of the purchase price and payment terms, including deposit and balance payment schedules

6. Property Description: Detailed description of the flat, including its location, boundaries, and measurement

7. Title and Ownership: Vendor's confirmation of legal title and right to sell under Nigerian law

8. Conditions Precedent: Conditions that must be fulfilled before completion

9. Completion: Details of the completion process, timing, and requirements

10. Vendor's Covenants: Warranties and representations by the Vendor regarding the property

11. Purchaser's Covenants: Obligations and commitments of the Purchaser

12. Risk and Insurance: Provisions regarding property risk transfer and insurance requirements

13. Default: Consequences of default by either party

14. Notices: Process for serving notices under the agreement

15. Governing Law: Specification that Nigerian law governs the agreement

16. Dispute Resolution: Procedures for resolving disputes between parties