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Deed Of Release And Quitclaim With Undertaking Template for Nigeria

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Key Requirements PROMPT example:

Deed Of Release And Quitclaim With Undertaking

"I need a Deed of Release and Quitclaim with Undertaking for a property development dispute in Lagos, Nigeria, where ABC Development Ltd will release all claims against XYZ Properties Ltd relating to the failed joint venture agreement dated January 15, 2025, with an undertaking not to pursue any future claims or developments within 5km of the disputed site."

Document background
The Deed of Release and Quitclaim with Undertaking is a vital legal instrument in Nigerian business and property transactions, typically used when parties wish to achieve final settlement of disputes or clean transfer of rights while establishing ongoing obligations. This document is particularly relevant in situations involving property transfers, settlement of commercial disputes, or conclusion of complex business arrangements where one party needs to relinquish rights while making specific commitments. The deed must comply with Nigerian property and contract law requirements, including proper execution as a deed, stamping, and registration where applicable. It provides comprehensive protection by combining the release of existing claims, quitclaim of potential rights, and specific undertakings for future conduct, making it especially valuable in high-stakes commercial and property transactions.
Suggested Sections

1. Parties: Identifies and defines all parties to the deed, including their full legal names, addresses, and capacity

2. Background: Sets out the context and circumstances leading to the deed, including any relevant prior agreements or disputes

3. Definitions and Interpretation: Defines key terms used in the deed and establishes interpretation principles

4. Release: Details the specific claims, rights, and interests being released by the releasing party

5. Quitclaim: Formal relinquishment of any right, title, or interest in the subject matter

6. Undertakings: Specific promises and obligations made by the releasing party regarding future conduct

7. Consideration: States the consideration being provided for the release and quitclaim

8. Warranties and Representations: Statements of fact and assurances given by the releasing party

9. Governing Law and Jurisdiction: Specifies Nigerian law as governing law and establishes jurisdiction for disputes

10. Execution: Formal execution block meeting requirements for deeds under Nigerian law

Optional Sections

1. Confidentiality: Required when parties wish to keep the terms of the release confidential

2. Third Party Rights: Needed when the release affects rights of parties not directly involved in the deed

3. Further Assurance: Optional clause requiring parties to take additional steps if needed to give effect to the deed

4. Severability: Optional clause addressing the situation where parts of the deed become invalid or unenforceable

5. Costs: Optional section specifying how legal and other costs related to the deed are to be borne

6. Entire Agreement: Optional where there are previous agreements that need to be superseded

7. Notices: Required when ongoing obligations exist requiring formal communications between parties

Suggested Schedules

1. Schedule 1 - Released Claims: Detailed list of specific claims, rights, or interests being released

2. Schedule 2 - Released Properties: Description of any specific properties or assets covered by the quitclaim

3. Schedule 3 - Related Agreements: List of any related agreements affected by or referenced in the release

4. Appendix A - Supporting Documents: Copies of relevant supporting documents referenced in the deed

5. Appendix B - Power of Attorney: If applicable, power of attorney authorizing execution on behalf of any party

Authors

Alex Denne

Head of Growth (Open Source Law) @ ºÚÁÏÊÓÆµ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions





























Clauses

























Relevant Industries

Real Estate

Construction

Oil and Gas

Mining

Banking and Finance

Manufacturing

Agriculture

Telecommunications

Infrastructure Development

Commercial Property

Professional Services

Energy

Relevant Teams

Legal

Real Estate

Compliance

Risk Management

Operations

Commercial

Property Administration

Corporate Secretariat

Business Development

Facilities Management

Relevant Roles

Legal Counsel

Property Manager

Real Estate Director

Compliance Officer

Risk Manager

Contract Administrator

Company Secretary

Commercial Director

Operations Manager

Business Development Manager

Land Administrator

Property Rights Officer

Transaction Manager

General Counsel

Legal Operations Manager

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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