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Exclusive Lease Template for Nigeria

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Key Requirements PROMPT example:

Exclusive Lease

"I need an Exclusive Lease agreement for a commercial warehouse in Lagos, Nigeria, commencing March 1, 2025, with specific provisions for heavy machinery installation and 24/7 operational access."

Document background
The Exclusive Lease agreement is a fundamental legal document used in Nigerian property transactions to establish a binding relationship between property owners and occupiers. This document is essential when a property owner wishes to grant complete and exclusive possession rights to a tenant while retaining ownership. The agreement must comply with Nigerian federal laws, including the Land Use Act 1978, as well as relevant state-specific property and tenancy laws. It's particularly important in commercial and high-value residential contexts where clear documentation of rights, obligations, and restrictions is crucial. The Exclusive Lease includes comprehensive terms covering property use, maintenance, payment structures, and dispute resolution mechanisms, while incorporating necessary provisions for government consent and registration requirements specific to Nigerian property law.
Suggested Sections

1. Parties: Identification and details of the Landlord and Tenant, including registered addresses and registration numbers if corporate entities

2. Background: Context of the lease arrangement and brief description of the property

3. Definitions: Definitions of key terms used throughout the lease agreement

4. Demise: Formal grant of the lease, specifying the property being leased and the exclusive nature of possession

5. Term and Commencement: Duration of the lease and its start date

6. Rent and Payment Terms: Amount of rent, payment schedule, and method of payment

7. Security Deposit: Details of security deposit amount, terms of holding, and conditions for return

8. Tenant's Covenants: Obligations of the tenant including maintenance, permitted use, and compliance with laws

9. Landlord's Covenants: Obligations of the landlord including quiet enjoyment and structural repairs

10. Insurance: Requirements for property insurance and contents insurance

11. Utilities and Services: Responsibility for utilities, services, and associated charges

12. Termination: Circumstances and procedures for lease termination

13. Yielding Up: Conditions for returning the property at lease end

14. Notices: Process for serving formal notices between parties

15. Governing Law: Specification of Nigerian law as governing law and relevant jurisdiction

Optional Sections

1. Break Clause: Optional provision allowing early termination under specific conditions - include for longer term leases

2. Rent Review: Mechanism for periodic rent adjustments - include for leases longer than 3 years

3. Subletting and Assignment: Terms for transferring or sharing the lease - include for commercial properties

4. Alterations and Improvements: Rules for making changes to the property - include for commercial leases or where significant modifications are anticipated

5. Environmental Matters: Environmental obligations and restrictions - include for industrial or commercial properties

6. Force Majeure: Provisions for unforeseen circumstances - include for longer term or high-value leases

7. Service Charge: Details of service charges for common areas - include for multi-unit properties

8. Planning Requirements: Compliance with planning laws - include for commercial properties or properties in regulated zones

Suggested Schedules

1. Property Description: Detailed description of the property including boundaries, floor plans, and photographs

2. Inventory: List of fixtures, fittings, and furniture included in the lease

3. Condition Report: Detailed report of the property's condition at the start of the lease

4. Permitted Use: Detailed specifications of allowed activities and use of the property

5. Rent Payment Schedule: Detailed breakdown of rent payments and due dates

6. Service Charge Schedule: Breakdown of service charges and calculation method

7. Maintenance Schedule: Detailed allocation of maintenance responsibilities between parties

8. Building Rules: Specific rules and regulations for the use of the property or building

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

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Relevant Industries

Real Estate

Commercial Property

Retail

Industrial

Healthcare

Education

Hospitality

Office Space

Warehousing

Manufacturing

Agriculture

Technology

Professional Services

Relevant Teams

Legal

Real Estate

Operations

Finance

Facilities Management

Compliance

Risk Management

Corporate Affairs

Property Management

Asset Management

Relevant Roles

Real Estate Manager

Property Manager

Facilities Manager

Legal Counsel

Corporate Lawyer

Operations Director

Chief Financial Officer

Business Development Manager

Asset Manager

Compliance Officer

Real Estate Agent

Property Developer

Estate Surveyor

Company Secretary

Commercial Director

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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