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Transfer Of Ownership Agreement Property
"I need a Transfer of Ownership Agreement Property for transferring a commercial warehouse in Lagos State, Nigeria to my company from a private seller, with completion planned for March 2025, including provisions for existing tenant agreements and environmental compliance requirements."
1. Parties: Identification of the Transferor and Transferee with full legal names and addresses
2. Background: Recitals establishing the Transferor's ownership, property details, and intention to transfer
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Details: Comprehensive description of the property being transferred, including boundaries and registration details
5. Consideration: Purchase price and payment terms
6. Transfer of Ownership: Core provisions effecting the transfer of ownership
7. Completion Requirements: Steps to be taken to complete the transfer, including Governor's consent and registration
8. Transferor's Warranties: Warranties regarding title, encumbrances, planning permissions, and property condition
9. Transferee's Warranties: Warranties regarding capacity to purchase and compliance with relevant laws
10. Registration and Consent: Provisions regarding obtaining Governor's consent and registration of the transfer
11. Costs and Taxes: Allocation of transfer costs, stamp duty, and other applicable taxes
12. Governing Law: Specification of Nigerian law as governing law and jurisdiction
1. Existing Tenancies: Required if there are existing tenants in the property, detailing their rights and obligations
2. Mortgage Provisions: Required if the purchase involves mortgage financing
3. Service Charges: Required for properties in estates or developments with common areas
4. Environmental Warranties: Required for industrial properties or properties in environmentally sensitive areas
5. Planning Permissions: Required if the property requires specific planning permissions or has ongoing applications
6. Assignment of Warranties: Required if there are existing construction or equipment warranties to be assigned
7. Vacant Possession: Required if immediate vacant possession is part of the agreement
1. Property Description Schedule: Detailed technical description of the property including survey plan and boundaries
2. Title Documents: List and copies of all relevant title documents
3. Payment Schedule: If payment is to be made in installments or subject to conditions
4. Existing Tenancy Schedule: Details of any existing tenancy agreements if applicable
5. Inventory Schedule: List of fixtures, fittings, and other items included in the transfer
6. Required Consents: List of necessary consents and approvals required for the transfer
7. Outstanding Charges: Details of any outstanding charges, taxes, or fees relating to the property
Authors
Real Estate
Construction
Banking & Finance
Agriculture
Industrial Manufacturing
Hospitality & Tourism
Retail
Healthcare
Education
Mining & Natural Resources
Commercial Property Development
Residential Property Development
Legal
Real Estate
Compliance
Property Management
Corporate Affairs
Facilities Management
Risk Management
Operations
Finance
Asset Management
Real Estate Lawyer
Property Manager
Legal Counsel
Compliance Officer
Real Estate Agent
Property Developer
Land Administrator
Corporate Lawyer
Transaction Manager
Real Estate Investment Manager
Legal Director
Property Acquisition Manager
Asset Manager
Facilities Manager
Real Estate Portfolio Manager
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