These terms relate to your expression of interest to subscribe to the Stake Land Investment with Isimi Lagos. Your confirmation of subscription by Isimi Lagos is conditioned on your acceptance of and compliance with these terms. These terms apply to all subscribers and successors in title to the scheme.
By signing these terms, you agree to be bound by these terms. If you disagree with any part of the terms you’re advised against subscribing.
We state that;
i. All subject land is free from government acquisition, adverse claim or any form of encumbrance.
ii. LandWey may act as the property manager, oversee development, or perform other necessary in each project marketing material.
iii. You arey roles as outlined in the governing documents.
iv. You are required to fill in your contact details (phone number and email) on your subscription form to enable us give necessary information concerning your property as against going through your representative.
v. LandWey will not be liable for information not received by you as a result of a breach of clause (iv) above.
vi. The minimum cycle of a subscription to the Scheme is a 2-year cycle.
vii. The only party recognized by LandWey in receiving instructions and execution of documents as regards the property is the Client and, in the event, that the Client intends to delegate that responsibility to a third party, a written instruction either in a letter form or an official email has to be sent to Landwey’s official email address before such third party can be recognized.
viii. A subscriber may add such an additional number of units to his/her subscription at any time subject to the availability of units in the scheme
ix. A subscriber may sell part or his entire holdings in the scheme to other members within the Scheme or an interested third party at an appreciation value of the unit at the time of sale
x. Landwey will maintain a property trading platform to enable additional subscriptions and resale by subscribers.
xi. Landwey will furnish subscribers with a periodic market value of their unit holding(s) from time to time.
xii. You may cancel your subscription with us for any unit you subscribe to if the certificate of ownership has not been issued but not exceeding 24 hours of your subscription to the unit. You do not need to give us any reason for cancelling your subscription nor will you have to pay any penalty
1. SUBSCRIPTION/PAYMENT
1.1. Price will be the amount advertised in such promotional materials and may be varied over time.
1.2. Payment for Land shall be made to the account details provided in the marketing material.
1.3 Payment by cheque shall only be acknowledged when payments are received in cleared funds by Landwey.
1.4. Acknowledgement of payments shall be by email which shall be deemed delivered within 3 hours of sending email.
2 DOCUMENTATION
2.1 Documentation for a sale shall comprise of the following:
i. Terms and Conditions
ii. Certificate of Purchase
iii. Contract of Sale (applicable upon reaching 300sqm & above)
iv. Survey Plan (applicable upon subscription reaching 300sqms & above)
v. Deed of Assignment (applicable upon subscription reaching 300sqms & above)
*To be eligible for Deed of Assignment and Survey, you will be required to make payment for same upon qualifying
3 POSSESSION
A Subscriber will be eligible to take possession where the cumulative unit to which he/she is subscribed within the 2-year subscription cycle is up to 300 Sqm or more.
4 TRANSFERS OF INTEREST
i. A subscriber who owns less than 300 sqm in the Scheme at the expiration of a 2-year cycle shall mandatorily sell the unit to an interested third party.
ii. A subscriber who owns units up to 300 sqm or more may elect to sell the entire units at the prevailing market value on the ………….. platform or in the open market or build on same.
iii. To exercise the right to convert the units of land for building purposes, the Subscriber shall be subject to the Terms and Conditions for subscription to the Estate on which the unit(s) is held at the time of the conversion.
iv. For the avoidance of doubt no partition or division of the holding is allowed at any point for which the subscription is held.
5 WITHDRAWAL
a. You have the right to cancel/withdraw your subscription at any time before the expiration of the 2-year cycle.
b. To cancel your subscription, you must give a thirty (30) days notice in writing to Landwey
c. Once you have notified us that you are cancelling your subscription, any sum credited to us from your card or bank account will be reimbursed to your account less ten per cent (10%) administrative fee, provided that for the refund to be done, the unit which the subscriber relinquished must have been resold.
6. CANCELLATION
We reserve the right to cancel the contract between us if:
– we have insufficient units to cater to your subscription;
– one or more of the units you subscribed to was listed at an incorrect price due to a typographical error or an error in the pricing information;
– If we do cancel your subscription, we will notify you by e-mail and will reimburse your account any sum deducted by us from your card or account as soon as possible but in any event within 30 days of your subscription. We will not be obliged to offer any additional compensation for the disappointment suffered.
7 REFUND
a. In the event of a refund, either as a result of cancellation, revocation, or termination, Landwey shall not be liable to make any refund to the existing Subscriber until Landwey has received funds corresponding in value to the amount to be refunded from a third-party subscriber to the unit relinquished. For the avoidance of doubt, Landwey shall not be obliged to procure a third party to acquire the Subscriber’s interest in the Land within a particular timeframe.
b. In a refund situation arising as a result of a subscriber’s withdrawal, the refund shall be made less 10% administrative charge and refund of payments or deposits made shall be done to the source bank account (the bank account from which payment was made to Landwey).
8 REVOCATION & TERMINATION
a. Landwey shall be at liberty to revoke a Subscription if the Subscriber fails to meet the purchase requirements or adhere to the terms and conditions stated herein.
b. Landwey shall be at liberty to terminate the subscription of the Subscriber if the Subscriber fails to meet the purchase requirements or adhere to the terms and conditions stated herein.
c. In the event of revocation as stated above, Landwey shall not be liable to make any refund to the existing Subscriber until Landwey has received funds corresponding in value to the amount to be refunded from a third-party Subscriber of the Land.
9 DIRECT BANK DEPOSIT(S)
Direct payments into our account will only be recognized when we receive evidence of such payment(s) from Subscribers or their representatives. Such purchasers will then be issued the Terms and Conditions for purchase. The execution of this agreement does not guarantee a unit of subscription to the Subscriber as subscription is subject to availability of unit and prompt payment of subscription sum.
10 INTELLECTUAL PROPERTY RIGHT
All legal and beneficial rights in any Material, designs, slogans, adaptations etc. remain the property of Landwey. The Subscriber may not copy, reproduce, republish, upload, post, transmit or distribute material that forms part of Intellectual Property Rights of Landwey in any way, including by e-mail or other electronic means and whether directly or indirectly, without obtaining prior written consent of the owner or holder of the rights.
11 ETHICAL COMMITMENT
Landwey reserves the right to suspend or terminate any ongoing transaction, and the Subscriber agrees to forfeit any funds or assets associated with the transaction to the appropriate law enforcement authorities if they are found to be the proceeds of fraud or illegal activities.
Parties further agree that they will refrain from publicizing their grievances or disputes with a party on social media platforms, public forums, or any other public domain that may damage the party’s reputation or disclose confidential information. Publicizing disputes in this manner may result in legal action, and the party in breach may be liable for any damages incurred by the other party as a result.
12. DISPUTE RESOLUTION
In the interest of maintaining a fair and respectful business relationship, parties to this agreement, commit to addressing and resolving any issues or disputes that may arise in the course of our business interactions through established dispute-resolution mechanisms (mediation). if mediation fails, parties may seek to resolve the dispute through arbitration.
These terms and conditions are subject to change based on industry and regulatory dynamics without notice.
