The Termination of Tenancy agreement is a crucial legal document used in Nigerian property law when either a landlord or tenant wishes to formally end their lease arrangement. This document is essential for ensuring compliance with Nigerian federal and state-specific tenancy laws, particularly the Recovery of Premises Act and various state tenancy laws. It's used in both residential and commercial contexts, providing a structured framework for ending the landlord-tenant relationship. The document typically includes essential elements such as notice periods, property inspection arrangements, utility account settlements, and security deposit handling. It serves as a vital tool for preventing disputes and ensuring a clear, legally-compliant process for concluding tenancy arrangements in Nigeria.
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1. Parties: Details of the Landlord and Tenant, including full legal names, addresses, and contact information
2. Background: Brief recital of the existing tenancy agreement, including its date, property address, and type of tenancy
3. Definitions: Key terms used in the document including 'Premises', 'Termination Date', 'Original Lease Agreement', etc.
4. Notice of Termination: Formal declaration of termination, specifying the effective date and statutory notice period compliance
5. Termination Date: Clear statement of the exact date when the tenancy will end
6. Vacation of Premises: Tenant's obligations regarding vacating the property, including condition requirements and key return
7. Final Inspection: Arrangements for property inspection and inventory check
8. Settlement of Accounts: Provisions for final utility bills, rent payments, and security deposit return
9. Acknowledgment: Mutual acknowledgment of termination terms and release of future obligations
10. Governing Law: Specification that Nigerian law governs the agreement
11. Execution: Signature blocks for all parties and witnesses
1. Outstanding Repairs: Include when there are specific repair obligations to be addressed before termination
2. Rent Arrears: Include when there are outstanding rent payments to be settled
3. Security Deposit Deductions: Include when specific deductions from the security deposit are anticipated
4. Forwarding Address: Include when requiring tenant to provide future contact details
5. Early Termination Fee: Include when the termination occurs before the original lease end date
6. Abandonment of Property: Include procedures for dealing with any property left behind by tenant
7. Third Party Rights: Include when there are sublettings or third-party interests to address
1. Schedule 1 - Property Inventory: Detailed list of property contents and their condition at termination
2. Schedule 2 - Outstanding Payments: Itemized list of any pending payments or settlements
3. Schedule 3 - Property Inspection Report: Detailed report of property condition at termination
4. Appendix A - Original Lease Agreement: Copy of the original lease agreement being terminated
5. Appendix B - Photographic Evidence: Photos documenting property condition at termination
6. Appendix C - Utility Account Details: List of utility accounts to be closed or transferred
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