Developer’s Agreement Template [Nigeria]
Updated January 20, 2024
Got a patch of land just sitting there? Here’s a hot tip. Pair up with a savvy developer and transform that idle dirt into a gold mine.
Think of a developer’s agreement as a match made in real estate heaven. You lease your land to a builder with the chops to turn it into something epic—using their own dough.
And the cherry on top? You choose your payday:
- A nice chunk of change upfront,
- A slice of the shiny new development,
- Or a piece of the profit pie from whatever gets built.
Lock in the terms, and bam! That land’s not just land anymore—it’s your ticket to the big leagues.
Generate your Developer’s Agreement
How to use this Developer’s Agreement
Hey, Real Estate Enthusiasts! Ready to turn that idle land into a goldmine? The developer’s agreement is like a treasure map for both landowners and developers.
For Landowners: Sit back and watch your land pay off without lifting a finger. With this agreement, reap the rewards as developers transform your slice of the earth into the next big thing. And guess what? If you want back in on the action, there’s a nifty buy-out clause waiting just for you.
For Developers: Why buy when you can collaborate? Partner up with a landowner, roll up your sleeves, and start building your vision. You get to craft and profit from your masterpiece while skipping the hefty price tag of owning the land outright.
And here’s the cherry on top—the agreement includes clear terms like:
- Blueprint of Success: Outlining the shiny new structure that’ll rise.
- Get-Out-Of-Jail-Free Card: A buy-out option in case you want to change the game.
- The Great Divide: A fair share formula for the profits.
- Know Your Rights: Clear cut rights for everyone involved, so there’s no stepping on toes.
- Safety Net: Insurance policies to keep your dreams secure.
All in all, it’s a win-win partnership that’s sealed with a handshake and bound by the power of the pen. Let’s build something great together, shall we?
Other names for Developer’s Agreement
- Developer’s Contract
- Builder’s Contract/ Agreement
Applicable Laws in Nigeria
- Land Use Act
- Companies and Allied Matters Act, 2020 (where any of the parties is a registered business entity recognised under the Act)
- Property and Conveyancing Law of 1959 is applicable in the old Western states of Nigeria.
- Conveyancing Act, 1881 applicable in old Eastern states of Nigeria
- Registration of Title Law of a State. E.g. Land Registration Law, Lagos State, 2014.
- Contract Law of a State
- Urban and Regional Planning and Development Law of a State; e.g. Urban and Regional Planning and Development Law of Lagos State.
- Insurance Act
- National Building Code
- Environmental Impact Assessment Act
- Public Procurement Act
- National Environmental Standards and Regulations Enforcement Agency
Other documents:
Deed of Assignment (Corporate to Individual)
