After completing the form, the tenant must review the agreement and sign two copies of this document. Then the landlord should also sign both copies and deliver one copy to the tenant. Once the rent is paid, the landlord must issue the tenant with a rental receipt (proving the payment of the rent). The parties choose the above addresses as physical addresses for the notification of a notification, the payment of any amount and the possibility of taking legal action under this real estate rental agreement. Each party has the right to change its physical address information in writing to the other party. Such a change shall take effect on the 7th day following receipt of the notification by the other Party. Any communication that the lessor must send to the tenant is deemed effective when it is sent by prepaid registered letter to the tenant in the property or left by the owner or his agent at this address, the notification being deemed received by registered letter 5 days after its publication. or the day on which the termination was served by hand. Other applicable laws are: Registered Land Law, Land Registration Law, Capital Gains Tax Act and the rental laws of different states in Nigeria are applicable to this Agreement. This form is also known as: lease, lease, lease, free lease, lease, lease, lease, lease, lease The concept of lease is very common in Nigeria, it is reported that 85 percent of Nigeria`s urban population lived in rental housing in 2010 and rented a large part of their income. This proves that the lease is widespread and is still widespread in Nigeria today. The objective of these essays is to briefly discuss the concept, laws, clauses, rental rights with the specific focus on lagos state. It`s remarkable that one of the most important things about a rental agreement is that it usually follows with a set time, which eliminates the need to re-address a tenant.
Under the Lagos State Rents Act, if the time or period of a lease has been stipulated in an agreement, this lease is determined only by a passage of time and the lessor automatically has the right to issue a 7-day notification of the owner`s intention to recover the premises from the tenant, followed by an action for the recovery of the premises. if the tenant fails to evacuate after seven days. This document is used by a lessor and a tenant for the purpose of renting premises only for residential purposes. It is only used if the term of the lease is less than 3 years. A lease is a relationship between a person and its owner. A lease agreement confers rights on both parties. The predominant factor of a lease is that it is safe for a period usually between one and three years with the renewal option. Any lease longer than three (3) years is considered a lease and not a lease….