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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."
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
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 Entire Agreement: Optional where there are previous agreements that need to be superseded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
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
Real Estate
Construction
Oil and Gas
Mining
Banking and Finance
Manufacturing
Agriculture
Telecommunications
Infrastructure Development
Commercial Property
Professional Services
Energy
Legal
Real Estate
Compliance
Risk Management
Operations
Commercial
Property Administration
Corporate Secretariat
Business Development
Facilities Management
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
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