The Irrevocable Inter Vivos Deed of Gift is a crucial legal instrument in Nigerian property law used when a party (donor) wishes to transfer property to another party (donee) as a gift during their lifetime. This document is particularly important in Nigeria's legal system, which combines common law, statutory law, and customary law considerations. It's commonly used for family property transfers, charitable donations, and corporate gifting purposes. The deed must comply with various Nigerian legislation including the Land Use Act for land transfers, Stamp Duties Act for proper registration, and relevant state property laws. The document's irrevocable nature means that once executed, the transfer cannot be reversed, making it essential to include comprehensive property descriptions, clear transfer intentions, and proper attestation by witnesses.
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1. Parties: Identifies and provides full details of the Donor and Donee, including their full names, addresses, and capacity to give/receive
2. Background: Establishes the context of the gift, the relationship between parties if relevant, and the Donor's ownership of the property
3. Definitions: Defines key terms used throughout the deed for clarity and legal certainty
4. Gift Declaration: Clear and unequivocal statement of the Donor's intention to make an immediate and irrevocable gift of the property
5. Description of Property: Detailed description of the property being gifted, including all relevant identifying information
6. Delivery and Transfer: Specifics of how and when the property will be transferred to the Donee
7. Donor's Warranties: Warranties regarding ownership, right to transfer, and freedom from encumbrances
8. Donee's Acceptance: Express acceptance of the gift by the Donee
9. Irrevocability Clause: Clear statement that the gift is irrevocable and binding
10. Execution: Formal execution clause including requirements for witnesses and attestation
1. Conditions Precedent: Used when there are specific conditions that must be met before the gift takes effect
2. Tax Declarations: Include when there are specific tax implications that need to be acknowledged
3. Consent Requirements: Required when the property requires specific governmental or third-party consents for transfer
4. Family Property Declaration: Include when the gifted property has implications under customary law or family property rights
5. Power of Attorney: Include when someone needs to be appointed to handle specific aspects of the transfer
6. Governing Law and Jurisdiction: Include when there are cross-state implications within Nigeria
1. Schedule 1 - Property Description: Detailed technical or legal description of the gifted property, including boundaries for land, registration details for vehicles, or specifications for other assets
2. Schedule 2 - Title Documents: List and copies of relevant title documents, certificates, or registrations
3. Schedule 3 - Encumbrances: Details of any existing encumbrances, rights, or obligations attached to the property
4. Appendix A - Required Consents: Copies of any required consents or approvals obtained
5. Appendix B - Property Valuation: Independent valuation of the property where required for stamp duty or other purposes
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