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Deed Of Release Property

Deed Of Release Property Template for Nigeria

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Key Requirements PROMPT example:

Deed Of Release Property

"I need a Deed of Release Property under Nigerian law to transfer my inherited family property in Lagos to my brother, with the release to take effect from March 1, 2025, including specific provisions about shared maintenance responsibilities until the transfer date."

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Document background
The Deed of Release Property is a critical legal instrument in Nigerian property law, commonly used when one party wishes to formally relinquish all rights, title, and interest in a property to another party. This document is essential in various scenarios, including family property settlements, corporate property transfers, or resolution of property disputes. The deed must comply with Nigerian legal requirements, particularly the Land Use Act 1978 and state-specific property laws. It requires proper execution as a deed, stamping under the Stamp Duties Act, and registration with the appropriate land registry. The document typically includes comprehensive property descriptions, representations about title, and may also address any existing encumbrances or third-party rights. It serves as conclusive evidence of the release and can be crucial in establishing clear title chains in Nigerian property transactions.
Suggested Sections

1. Parties: Identifies and defines all parties to the deed, including the Releasor and Releasee with their full legal names and addresses

2. Background: Recitals explaining the context of the property release, including reference to original ownership and reason for release

3. Definitions: Defines key terms used throughout the deed, including 'Property', 'Release Date', and other relevant terms

4. Release: Core provision stating the unconditional and irrevocable release of all rights, title, and interest in the property

5. Consideration: States the consideration (if any) for the release of property

6. Representations and Warranties: Releasor's confirmations regarding ownership, right to release, and absence of encumbrances

7. Further Assurance: Commitment to execute further documents if required to give effect to the release

8. Governing Law: Specifies Nigerian law as governing law and relevant jurisdiction

9. Execution: Formal execution block meeting requirements for deeds under Nigerian law

Optional Sections

1. Outstanding Payments: Include when there are any outstanding payments or financial obligations related to the property

2. Third Party Rights: Include when there are any third party interests or rights that need to be addressed

3. Tax Provisions: Include when specific tax implications need to be addressed

4. Indemnification: Include when specific indemnities are required regarding past property usage or claims

5. Confidentiality: Include when parties wish to keep the terms of the release confidential

6. Dispute Resolution: Include when specific dispute resolution mechanisms are desired beyond standard court jurisdiction

Suggested Schedules

1. Property Description: Detailed description of the property being released, including boundaries, title details, and registration information

2. Title Documents: List of all relevant title documents and certificates relating to the property

3. Encumbrances: List of any existing encumbrances, easements, or restrictions on the property

4. Property Plans: Survey plans, maps, or drawings of the property where applicable

5. Related Agreements: List of any related agreements or documents affecting the release

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions




























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Relevant Industries

Real Estate

Construction

Banking and Finance

Agriculture

Industrial Manufacturing

Commercial Property Development

Residential Property Development

Mining and Natural Resources

Infrastructure Development

Hospitality

Relevant Teams

Legal

Real Estate

Compliance

Property Management

Corporate Secretariat

Land Administration

Asset Management

Facilities Management

Risk Management

Operations

Relevant Roles

Legal Counsel

Property Manager

Real Estate Director

Company Secretary

Land Administrator

Compliance Officer

Real Estate Attorney

Title Officer

Property Development Manager

Asset Manager

Facilities Manager

Real Estate Investment Manager

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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