WHY YOU NEED AN INDEMNITY CLAUSE IN YOUR LAND PURCHASE DOCUMENT

WHY YOU NEED AN INDEMNITY CLAUSE IN YOUR LAND PURCHASE DOCUMENT

At Apex Chambers, as Law Firm of Property Lawyers, Barristers & Attorneys in Port Harcourt, Nigeria, we understand the intricacies of property transactions and the need to protect clients’ interests. A crucial part of a Deed of Conveyance is the indemnity clause.

A Deed of Conveyance is a land/building buying document and it transfers ownership from the seller to the buyer. After the sale, unforeseen issues could arise, putting the buyer’s investment at risk.

Indemnity clause serves as a safeguard against potential liabilities. It is a provision that mandates the seller to compensate the buyer for losses or damage incurred due to specified events or circumstances. It protects the buyer from ownership claims by third parties, disputes, breach of warrant, false representation, environmental and acquisition issues, etc.

An Indemnity Clause helps in:

1. Risk Allocation: It allocates risks between the parties, ensuring the buyer is not burdened with unforeseen liabilities.

2. Protection of Investment: By providing a safety net, it safeguards the buyer’s investment and ensures they are not left with defective ownership.

3. Enhanced Security: It offers an added layer of security, giving the buyer peace of mind and confidence.

4. Dispute Resolution: It provides a clear framework for dispute resolution.

If you need legal services and help with well drafted land documents call, WhatsApp or email Apex Chambers.

Apex Chambers is the best Law Firm of Property/Real Estate and Business/Corporate/Commercial Lawyers, Barristers, Solicitors, Attorneys in Port Harcourt, Rivers State, Nigeria, and the Winner of the Africa Prestige Awards Real Estate Law Firm of the Year 2024/2025.

Phone: +2347030868694

Email: info@apexchambersglobal.com

Website: www.apexchambersglobal.com