The Bargain and Sale Deed is a fundamental legal instrument in Nigerian property law, used when transferring ownership rights in real property from one party to another. This document type emerged from common law traditions but has been adapted to meet Nigerian legal requirements, particularly those established by the Land Use Act of 1978. It serves as a formal record of property transfer and must include specific elements such as proper party identification, detailed property description, consideration amount, and appropriate execution formalities. The deed is crucial in Nigerian real estate transactions as it provides evidence of title transfer and requires important governmental approvals, including the Governor's consent. It's commonly used in both private and commercial property transactions, ranging from residential sales to complex commercial property transfers.
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1. Title and Date: Clearly states this is a Bargain and Sale Deed and the date of execution
2. Parties: Identifies the Grantor (seller) and Grantee (buyer) with their full legal names, addresses, and capacity to contract
3. Recitals: Background information including Grantor's ownership rights and authority to sell
4. Property Description: Detailed legal description of the property including boundaries, measurements, and registration particulars
5. Consideration: States the purchase price and confirms receipt of payment
6. Words of Grant: Formal language transferring title from Grantor to Grantee
7. Grantor's Covenants: Standard warranties about title, right to sell, and freedom from encumbrances
8. Execution: Signature blocks, witness requirements, and attestation clauses
1. Special Conditions: Additional terms specific to the transaction, used when there are unique circumstances or requirements
2. Encumbrances: Description of any existing liens, mortgages, or other encumbrances, included when the property is not transferred free and clear
3. Rights of Way: Details of any easements or rights of way affecting the property, included when applicable
4. Planning Permissions: Reference to relevant planning permits or restrictions, included for properties with development conditions
5. Governor's Consent: Specific provisions regarding obtaining required governmental consent, included when not yet obtained
1. Property Schedule: Detailed technical description of the property including survey plans and coordinates
2. Title Documents Schedule: List of all relevant title documents and their registration particulars
3. Encumbrances Schedule: Detailed list of any existing encumbrances affecting the property
4. Plan/Survey Drawing: Official survey plan or drawing showing the property boundaries and measurements
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