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The Contract For Sale Of House And Land is a fundamental legal document used in Nigerian property transactions when transferring ownership of built property and its associated land. This document is essential for both residential and commercial property sales in Nigeria, where land ownership is governed by the Land Use Act 1978. It becomes necessary when a property owner wishes to sell their property with associated land rights to another party, requiring specific provisions for Governor's consent and compliance with state-specific land registration requirements. The contract typically includes comprehensive details about the property, payment terms, conditions precedent, and the rights and obligations of both parties. It's particularly important in the Nigerian context due to the unique land tenure system and the need to ensure all regulatory requirements are met for a valid property transfer.

1. Parties: Identification and details of the vendor and purchaser, including full legal names, addresses, and any corporate information

2. Background: Context of the sale, including brief property history and current ownership status

3. Definitions: Key terms used throughout the agreement, including Property, Completion Date, Purchase Price, etc.

4. Sale and Purchase: Core agreement to sell and purchase the property, including the basic terms

5. Purchase Price: Details of the purchase price, payment terms, and deposit requirements

6. Conditions Precedent: Any conditions that must be met before the sale becomes binding

7. Completion: Terms and process for completing the sale, including timing and location

8. Title and Property Documents: Vendor's warranties regarding title and requirement to provide necessary documentation

9. State Governor's Consent: Process and obligations regarding obtaining necessary consent under the Land Use Act

10. Vendor's Covenants: Promises and obligations of the vendor up to completion

11. Purchaser's Covenants: Promises and obligations of the purchaser up to completion

12. Risk and Insurance: Responsibility for the property between exchange and completion

13. Default: Consequences of either party failing to comply with their obligations

14. Notices: How formal communications between parties should be made

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

16. Execution: Signature blocks and execution formalities