Deed of assignment

Why do we collect a certificate after graduating from a school? Why collect a receipt after a purchase? All these documents likewise deed of assignment for land are all super important because they serve as legal proof.  Deed of assignment is one of the very important land documents to acquire if ownership of land is to be authentic. 

To not collect a deed of assignment for the property purchased from the buyer is tantamount to throwing your money in the ocean and hoping the waves won’t carry it away. In case of litigation, the deed of assignment contains important information concerning the real estate transaction.

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As a savvy buyer, don’t ever buy a land without the knowledge of a solicitor and the presence of relevant documents of land ownership in Nigeria like Certificate Of Occupancy, Deed Of Assignment or Survey plan. Due to an increase in real estate scam by omonile and fraudsters, it is important not to rush the buying process.

What is a deed of assignment?

A Deed of assignment is a legal document which serves as a proof that the property purchased will be transferred to the buyer on a defined date by the rightful owner.

The deed of assignment for land has to be recorded in the land registry to show legal proof and to bring to the notice of everyone that the property has been transferred from the seller to the buyer.

Never accept a receipt for the property bought has an evidence of ownership because it is the same thing has fetching water with a basket. The seller who transfers his rights to that property is usually called the assignor and the person who receives such right from the seller is called the assignee.

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Difference between deed of assignment and deed of conveyance

The significant difference is that a deed of Conveyance can transfer the legal title of the property’s ownership from one individual to another in the form of a mortgage, gift or other real estate transactions while a deed of assignment is primarily based on transferring ownership through sales from one person to another.

Deed of assignment format

Deed of assignment format in Nigeria must follow this particular order listed below:

The cover page

The cover page of the deed of assignment must show both parties involved in the transaction( assignor and the assignee)and the description of the land sold.

The second page

The second page of the deed of assignment must contain the parties to the real estate transaction and the brief history of how the land became the Seller’s property.

The third page

The third page of the deed of assignment must contain the description of the land to be sold, the surveyor that carried out the survey, the cost of the land, the acceptance of the cost of the land and the promises both parties will make to themselves to abide with after the deal has been sealed.

The final page

The final page of the deed of assignment must show the signatures of the parties and the witnesses to that transaction and finally below, the section for the commissioner of oaths to endorse or the governor to assent his consent to this transaction.

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Components of a deed of assignment

Deed of assignment must include: names of the people involved in the agreement, the origin and history of the land in relation to the transfer of ownership from the specified period it was obtained until the present day of sale, addresses of both parties involved in the transaction ,successors, representatives , description and size of the land to be transferred, the signature of the parties to the assignment and witnesses to the transaction and space for signature of the commissioner of oaths or governor’s consent.

All the above features are the important component of a deed of assignment and must be included in the documents for it to be valid. The deed of assignment can be in the form of a governor’s consent or registered conveyance.

However, ensure you consult a  lawyer before you buy a land to help you draw up a deed of assignment. It will be a grave mistake not to seek a lawyer’s counsel about the deed of assignment so you don’t get scammed of your money.

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