The Contract for Use of Property is essential for establishing legally binding arrangements for property usage in Nigeria. This document is typically used when an owner wishes to grant another party the right to use their property without transferring ownership or creating a traditional lease arrangement. It's particularly relevant in commercial contexts, temporary usage scenarios, or situations requiring flexible property arrangements. The agreement must comply with Nigerian property law, including the Land Use Act 1978 and relevant state regulations. It addresses key aspects such as usage rights, term duration, payment terms, maintenance responsibilities, and compliance requirements. This type of contract is commonly used for various purposes, including temporary commercial spaces, event venues, agricultural land use, and shared facility arrangements.
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1. Parties: Identification and details of all parties to the agreement, including full legal names, addresses, and registration details for companies
2. Background: Context of the agreement, including brief description of the property and purpose of use
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Description: Detailed description of the property including location, boundaries, and registration details
5. Term and Commencement: Duration of the agreement and start date
6. Permitted Use: Specific permitted uses of the property and any restrictions
7. Fees and Payment Terms: Amount payable for property use, payment schedule, and payment methods
8. User's Obligations: Responsibilities and obligations of the party using the property
9. Owner's Obligations: Responsibilities and obligations of the property owner
10. Maintenance and Repairs: Responsibilities for property maintenance and repairs
11. Insurance: Required insurance coverage and responsibilities
12. Termination: Circumstances and procedures for termination of the agreement
13. Governing Law: Specification of Nigerian law as governing law and jurisdiction
14. Execution: Signature blocks and execution formalities
1. Environmental Compliance: Required when property use involves environmental considerations or risks
2. Alterations and Improvements: Include when user is permitted to make changes to the property
3. Security Deposit: Include when a security deposit is required
4. Subletting and Assignment: Include when transfer of rights needs to be addressed
5. Force Majeure: Include when need to address circumstances beyond parties' control
6. Utilities and Services: Include when addressing responsibility for utilities and services
7. Access Rights: Include when specific access arrangements need to be detailed
8. Dispute Resolution: Include when specific dispute resolution procedures are required
1. Property Details Schedule: Detailed technical description of property, including plans and measurements
2. Inventory Schedule: List of any fixtures, fittings, or equipment included in the property use
3. Fee Schedule: Detailed breakdown of fees, payment schedules, and calculation methods
4. Maintenance Schedule: Detailed maintenance responsibilities and schedules
5. Permitted Use Schedule: Detailed specifications of permitted activities and restrictions
6. Insurance Requirements: Detailed insurance requirements and minimum coverage levels
Authors
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Commercial Property
Retail
Industrial
Agriculture
Education
Healthcare
Hospitality
Manufacturing
Warehousing
Office Space
Entertainment
Religious Organizations
Non-Profit Organizations
Relevant Teams
Legal
Real Estate
Facilities Management
Operations
Finance
Compliance
Risk Management
Property Management
Asset Management
Business Development
Administrative
Relevant Roles
Property Manager
Facilities Manager
Real Estate Manager
Legal Counsel
Corporate Lawyer
Business Development Manager
Operations Manager
Asset Manager
Compliance Officer
Contract Administrator
Chief Financial Officer
Property Developer
Estate Agent
Land Administrator
Risk Manager
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