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CM Advocates - Nigeria > Agreement for Sale of Freehold Land Company to Individual [Cash Purchase]

Agreement for Sale of Freehold Land Company to Individual [Cash Purchase]

This Agreement relates to the sale of freehold land by a company to an individual.

The Agreement contains the description of the subject property whose tenure is freehold – (specifically referred to as absolute or fee simple estate). This means that the vendor holds title in the property without restrictions as to a defined term of years and payment of rent as in the case of a leasehold tenure.

The Agreement also relates to the sale of land where the purchase price is payable by the purchaser in cash, that is, no part of it is to be financed and the purchaser purchases the property on a “as is where is” basis.

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Table of Content

1. DEFINITIONS AND INTERPRETATION 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 8
12. DISCLAIMER 10
13. DISPUTE RESOLUTION 10
14. GOVERNING LAW AND JURISDICTION 12
15. THE SCHEDULE ..…………………..………………………………………………………14

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