Document background
The Lease Bill of Sale is a specialized legal instrument used in Nigerian business and property transactions where parties wish to combine a leasing arrangement with a future transfer of ownership. This document type is particularly useful in situations where immediate full purchase is not desired or possible, but there is an intention for eventual ownership transfer. It provides a structured framework for lease-to-own arrangements, complying with Nigerian federal and state property laws, and typically includes detailed terms for both the leasing period and the eventual sale. The document addresses key aspects such as payment schedules, maintenance responsibilities, insurance requirements, and transfer conditions, while ensuring compliance with local registration requirements and stamp duties. This type of agreement is commonly used in both commercial and industrial contexts, particularly for high-value assets where staged acquisition is advantageous.
