Land Lease Agreement In Nigeria

Finally, a written agreement protects future disputes between two parties who file a lawsuit for silent titles in an unfavorable property right in case of confusion about the ownership of the country. The landlord must understand the use of the rental business before adopting such a lease. Since the rental agreement is also valid for a long period, the tenant can modify the rented thing or use the property for specific purposes that are not acceptable to the owner. Simply put, stamp duty rates for leasing/leasing are not a 6% flat rate. Contrary to widespread speculation, you are not required to pay a 6% stamp duty if the term or lease does not exceed 21 years. Typically, developers require that the time required to complete the project be deducted from the lease term so that they can get a good return on their investment.. . . .

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