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CM Advocates - Nigeria > Agreement for Sale of Freehold Land by two companies [Pro Purchaser]

Agreement for Sale of Freehold Land by two companies [Pro Purchaser]

This Agreement relates to the sale of Freehold land between two companies.

The Agreement contains the description of the subject property whose tenure is fee simple/absolute, meaning that the vendor holds/owns the land completely without restrictions as to a defined term of years and payment of rent as in the case of a leasehold tenure.

This Agreement also contains warranties which protect the purchaser in case the vendor breaches any of them in that the purchaser can claim damages from the vendor.

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Table of Content

1. DEFINITIONS AND INTERPRETATIONS 3
2. AGREEMENT TO SELL AND PURCHASE 5
3. PAYMENT OF THE PURCHASE PRICE 5
4. COMPLETION 6
5. VACANT POSESSION 7
6. NO ECUMBRANCES 7
7. TIME OF THE ESSESNCE 7
8. LEGAL AND OTHER COSTS 7
9. BREACH 7
10. NOTICES 8
11. FORCE MAJEURE 9
12. WARRANTIES ………..………………………………………………………………………10
13. DISPUTE RESOLUTION 11
14. GOVERNING LAW AND JURISDICTION 14
15. GENERAL ..…………………………………………………………………………………….14
16. THE SCHEDULE ……………………..………………………………………………………15

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