A Deed of Debt is commonly used in Nigerian business and personal transactions where there is a need to formally document and secure a debt obligation. This document is particularly useful when substantial sums are involved or when parties require enhanced legal protection beyond a simple contract. The deed format provides additional security through its longer enforcement period and special status under Nigerian law. It should be used when documenting loans, acknowledgment of existing debts, or restructuring of payment obligations. The document typically includes comprehensive details about the debt amount, repayment schedule, interest calculations, security arrangements (if any), and consequences of default. As a deed, it must comply with specific execution requirements under Nigerian law, including proper witnessing and stamping.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Your data doesn't train Genie's AI
You keep IP ownership of your docs
1. Parties: Identifies and defines all parties to the deed, including the debtor and creditor with their full legal names and addresses
2. Background: Recitals explaining the context of the debt and the intention of the parties to create a legally binding deed
3. Definitions: Defines key terms used throughout the deed for clarity and consistency
4. Acknowledgment of Debt: Clear statement of the debt amount and acknowledgment by the debtor of their indebtedness
5. Repayment Terms: Details of how and when the debt will be repaid, including payment schedule and method
6. Interest: Specification of interest rate, calculation method, and payment terms
7. Representations and Warranties: Debtor's confirmations regarding their capacity and authority to enter into the deed
8. Events of Default: Circumstances that constitute default and the consequences thereof
9. Remedies: Creditor's rights and remedies in case of default
10. Notices: How formal communications between parties should be made and delivered
11. Governing Law: Confirmation that Nigerian law governs the deed
12. Execution: Formal execution clauses meeting the requirements for a deed under Nigerian law
1. Security Provisions: Used when the debt is secured against specific assets or property
2. Guarantor Provisions: Required when a third party is guaranteeing the debt
3. Insurance Requirements: Included when specific insurance must be maintained against secured assets
4. Early Repayment: Terms for early repayment if permitted, including any penalties or benefits
5. Assignment and Transfer: Terms governing if and how the debt can be assigned to other parties
6. Force Majeure: Included when parties want to address circumstances beyond their control affecting repayment
7. Costs and Expenses: Allocation of legal and administration costs, particularly relevant for larger debts
8. Variation Provisions: Terms governing how the deed can be modified in the future
1. Repayment Schedule: Detailed breakdown of payment dates and amounts
2. Security Details: Description and documentation of any assets provided as security
3. Secured Assets Register: Comprehensive list and description of assets secured against the debt
4. Associated Costs: Breakdown of any additional costs, fees, or charges
5. Related Agreements: List and copies of any related agreements referenced in the main deed
Find the exact document you need
Supplemental Trust Deed For Appointment Of Trustee
A Nigerian law-governed document that formally appoints a new trustee and transfers trust responsibilities from an existing trustee, ensuring legal compliance and continuity of the trust arrangement.
Download
Pension Scheme Trust Deed
A Nigerian law-compliant trust deed establishing and governing an occupational pension scheme under the Pension Reform Act 2014.
Download
Bare Trust Deed
A Nigerian law-governed trust deed establishing a bare trust arrangement where trustees hold property with absolute beneficial ownership vesting in the beneficiaries.
Download
Protected Trust Deed
A Nigerian law-governed trust deed that establishes a protected trust arrangement, defining asset transfer, trustee powers, and beneficiary rights.
Download
Promissory Deed
A formal deed under Nigerian law containing an unconditional promise to pay a specified sum of money, offering enhanced enforceability and a 12-year limitation period.
Download
Short Deed Of Trust
A concise legal document used in Nigeria to establish trust arrangements and transfer assets to trustees for specified beneficiaries, governed by Nigerian trust law.
Download
Deed Of Variation Trust Deed
A Nigerian legal document that modifies an existing trust deed's terms under Nigerian trust law, enabling changes to trust arrangements while maintaining the original trust's validity.
Download
Deed Of Termination Of Trust
A Nigerian law-governed deed that formally terminates a trust arrangement, distributes remaining assets, and discharges trustees from their duties.
Download
Supplemental Deed Of Trust
A Nigerian legal document that modifies an existing trust deed to update terms, parties, or administration procedures under Nigerian law.
Download
Irrevocable Inter Vivos Deed Of Gift
A Nigerian law-governed deed that enables the immediate and irrevocable transfer of property from donor to donee during the donor's lifetime.
Download
Living Trust Deed
A Nigerian legal document establishing a living trust arrangement, transferring assets from settlor to trustees for specified beneficiaries under Nigerian trust law.
Download
Inter Vivos Deed
A Nigerian legal document for transferring property rights between living persons, following requirements under Nigerian property law and the Land Use Act.
Download
Declaration Of Trust Agreement
A Nigerian law-governed document establishing a trust relationship, detailing asset transfer from settlor to trustees for designated beneficiaries' benefit.
Download
Revocable Deed Of Trust
A Nigerian law-governed trust deed establishing a revocable trust arrangement for asset management and distribution, with provisions for modification or termination by the settlor.
Download
Life Trust Deed
A Nigerian legal document establishing a lifetime trust arrangement, transferring assets to trustees for beneficiary management under Nigerian trust law.
Download
Second Trust Deed
A Nigerian legal instrument creating a secondary security interest in real property, subordinate to an existing first trust deed, used for securing additional financing.
Download
Irrevocable Deed
A legally binding Nigerian document creating an unconditional and irrevocable transfer of rights, interests, or property, compliant with Nigerian property and contract law.
Download
Master Trust Deed
A Nigerian law-governed foundational document that establishes and regulates trust arrangements under SEC oversight.
Download
Irrevocable Deed Of Gift
A Nigerian law-governed deed that enables the permanent and irrevocable transfer of property from a donor to a donee without monetary consideration.
Download
Security Trust Deed
A Nigerian law-governed deed establishing a trust structure for holding and managing security interests on behalf of multiple beneficiaries.
Download
Family Trust Deed
A Nigerian law-governed deed establishing a family trust, detailing asset transfer, management rules, and beneficiary rights.
Download
Deed Of Debt
A formal legal document under Nigerian law that creates or acknowledges a debt obligation, including repayment terms and enforcement provisions.
Download
ұԾ’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; ұԾ’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)