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The Online Real Estate Purchase Agreement is designed for property transactions in Nigeria where parties wish to execute the sale and purchase process primarily through digital means. This document has become increasingly relevant with the growth of digital transactions and remote property purchases, particularly following the implementation of the Cybercrimes Act 2015 which provides legal recognition for electronic transactions. The agreement incorporates all essential elements required under Nigerian property law, including Land Use Act compliance, while facilitating modern digital transaction methods. It is particularly useful for interstate or international buyers, or when parties prefer the convenience and efficiency of online transactions. The document includes comprehensive provisions for property description, payment terms, due diligence requirements, and title transfer procedures, all adapted for electronic execution while maintaining legal validity under Nigerian law.

1. Parties: Identification of the Seller and Buyer, including full legal names, addresses, and contact details for electronic communications

2. Background: Context of the transaction, including brief property description and intention to conduct sale online

3. Definitions: Key terms used throughout the agreement, including technical terms related to online transactions and property-specific terminology

4. Property Description: Detailed legal description of the property, including land title information and registration details

5. Purchase Price and Payment Terms: Agreed purchase price, payment schedule, and electronic payment mechanisms

6. Electronic Transaction Provisions: Specific provisions regarding online execution, digital signatures, and electronic communications

7. Due Diligence Requirements: Buyer's rights and timeframes for property inspection, document verification, and title search

8. Seller's Representations and Warranties: Seller's declarations regarding property ownership, condition, and encumbrances

9. Buyer's Representations and Warranties: Buyer's declarations regarding financial capacity and understanding of purchase terms

10. Closing Process: Steps for completion of the sale, including electronic document submission and physical property handover

11. Title Transfer: Process for transferring property title and registration requirements

12. Risk and Insurance: Allocation of risk and insurance requirements during the transaction period

13. Default and Remedies: Consequences of breach by either party and available remedies

14. Governing Law and Jurisdiction: Nigerian law application and jurisdiction for dispute resolution