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DEED OF ASSIGNMENT: EVERYTHING YOU NEED TO KNOW.

A Deed of Assignment refers to a legal document in which an assignor states his willingness to assign the ownership of his property to the assignee. The Deed of Assignment is required to effect a transfer of property and to show the legal right to possess it. It is always a subject of debate whether Deed of Assignment is a contract; a Deed of Assignment is actually a contract where the owner (the “assignor”) transfers ownership over certain property to another person (the “assignee”) by way of assignment. As a result of the assignment, the assignee steps into the shoes of the assignor and assumes all the rights and obligations pertaining to the property.

In Nigeria, a Deed of Assignment is one of the legal documents that transfer authentic legal ownership in a property. There are several other documents like a deed of gifts, Assent, etc. However, this article focuses on the deed of assignment.

It is the written proof of ownership that stipulates the kind of rights or interests being transferred to the buyer which is a legal interest.

Read Also: DIFFERENCE BETWEEN TRANSFER OF PROPERTY THROUGH WILLS AND DEED OF GIFT

CONTENTS OF A DEED OF ASSIGNMENT

Content of a Deed of Assignment matters a lot to the transaction and special skill is needed for a hitch-free transaction. The contents of a deed of assignment can be divided into 3 namely; the introductory part, the second (usually the operative part), and the concluding part.

  • THE INTRODUCTORY PART: This part enumerates the preliminary matters such as the commencement date, parties in the transaction, and recitals. The parties mentioned in the deed must be legal persons which can consist of natural persons and entities with corporate personality, the name, address, and status of the parties must be included. The proper descriptions of the parties are the assignor (seller) and assignee (buyer). The Recitals give the material facts constituting the background to the current transaction in chronological order.
  • THE SECOND PART (USUALLY THE OPERATIVE PART): This is the part where the interest or title in the property is actually transferred from the assignor to the assignee. It is more like the engine room of the deed of assignment. The operative part usually starts with testatum and it provides for other important clauses such as the consideration (price) of the property, the accepted receipt by the assignor, the description of the property, and the terms and conditions of the transaction.
  • The testimonium : this shows that all the parties are involved in the execution of the deed.
  • Execution : this means signing. The capacity of the parties (either individual, corporate bodies, illiterates) is of great essence in the mode of execution.  It is important to note that the type of parties involved determines how they will sign. Example 2 directors or a director/secretary will sign if a company is involved. In the same way, if an association, couple, individual, illiterate, family land (omonile), firm, unregistered association, etc. is involved the format of signature would be different.
  • Attestation : this refers to the witnessing of the execution of the deed by witnesses.

For a Deed of Assignment to be effective, it must include a column for the Governor of the state or a representative of the Government where the property is, to sign/consent to the transaction. By virtue of Sec. 22 of the Land Use Act, and Sec. 10 Land Instrument Registration Law, the Governor must consent to the transaction.

Do you have any further questions? feel free to call Ibejulekkilawyer on 08034869295 or send a mail to [email protected] and we shall respond accordingly.

Disclaimer: The above is for information purposes only and should not be construed as legal advice. Ibejulekkilawyer.com (blog) shall not be liable to any person(s) for any damage or liability arising whatsoever following the reliance of the information contained herein. Consult us or your legal practitioner for legal advice.

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Deed of Assignment: Everything You Need to Know

A deed of assignment refers to a legal document that records the transfer of ownership of a real estate property from one party to another. 3 min read updated on January 01, 2024

Updated October 8,2020:

A deed of assignment refers to a legal document that records the transfer of ownership of a real estate property from one party to another. It states that a specific piece of property will belong to the assignee and no longer belong to the assignor starting from a specified date. In order to be valid, a deed of assignment must contain certain types of information and meet a number of requirements.

What Is an Assignment?

An assignment is similar to an outright transfer, but it is slightly different. It takes place when one of two parties who have entered into a contract decides to transfer all of his or her rights and obligations to a third party and completely remove himself or herself from the contract.

Also called the assignee, the third party effectively replaces the former contracting party and consequently assumes all of his or her rights and obligations. Unless it is stated in the original contract, both parties to the initial contract are typically required to express approval of an assignment before it can occur. When you sell a piece of property, you are making an assignment of it to the buyer through the paperwork you sign at closing.

What Is a Deed of Assignment?

A deed of assignment refers to a legal document that facilitates the legal transfer of ownership of real estate property. It is an important document that must be securely stored at all times, especially in the case of real estate.

In general, this document can be described as a document that is drafted and signed to promise or guarantee the transfer of ownership of a real estate property on a specified date. In other words, it serves as the evidence of the transfer of ownership of the property, with the stipulation that there is a certain timeframe in which actual ownership will begin.

The deed of assignment is the main document between the seller and buyer that proves ownership in favor of the seller. The party who is transferring his or her rights to the property is known as the “assignor,” while the party who is receiving the rights is called the “assignee.”

A deed of assignment is required in many different situations, the most common of which is the transfer of ownership of a property. For example, a developer of a new house has to sign a deed of assignment with a buyer, stating that the house will belong to him or her on a certain date. Nevertheless, the buyer may want to sell the house to someone else in the future, which will also require the signing of a deed of assignment.

This document is necessary because it serves as a temporary title deed in the event that the actual title deed for the house has not been issued. For every piece of property that will be sold before the issuance of a title deed, a deed of assignment will be required.

Requirements for a Deed of Assignment

In order to be legally enforceable, an absolute sale deed must provide a clear description of the property being transferred, such as its address or other information that distinguishes it from other properties. In addition, it must clearly identify the buyer and seller and state the date when the transfer will become legally effective, the purchase price, and other relevant information.

In today's real estate transactions, contracting parties usually use an ancillary real estate sale contract in an attempt to cram all the required information into a deed. Nonetheless, the information found in the contract must be referenced by the deed.

Information to Include in a Deed of Assignment

  • Names of parties to the agreement
  • Addresses of the parties and how they are binding on the parties' successors, friends, and other people who represent them in any capacity
  • History of the property being transferred, from the time it was first acquired to the time it is about to be sold
  • Agreed price of the property
  • Size and description of the property
  • Promises or covenants the parties will undertake to execute the deed
  • Signatures of the parties
  • Section for the Governors Consent or Commissioner of Oaths to sign and verify the agreement

If you need help understanding, drafting, or signing a deed of assignment, you can post your legal need on UpCounsel's marketplace. UpCounsel accepts only the top 5 percent of lawyers to its site. Lawyers on UpCounsel come from law schools such as Harvard Law and Yale Law and average 14 years of legal experience, including work with or on behalf of companies like Google, Menlo Ventures, and Airbnb.

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Content Approved by UpCounsel

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  • Assignment Law
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CALIFORNIA DOCUMENT FORMS

Abandonment of Homestead - Declaration ​Acknowledgment Page

Acknowledgment of Satisfaction of Judgment

​Affidavit - Death of Join Tenant

Affidavit-Death of Transferor Under Revocable Transfer on Death Deed Affidavit - Death of Trustee - Succession of Successor Trustee Affidavit - Death of Trustee

​Affidavit of Death - Terminating Life Estate Interest Affidavit by Surviving Spouse - Section 13540 Probate Affidavit of Mailing All-Inclusive Deed of Trust and Assignment of Rents

​All Inclusive Deed of Trust and Assignment of Rents (Long Form) All-Inclusive Note Secured By Deed of Trust to Chicago Title Company as Trustee

Assignment of Deed of Trust Assignment of Mortgage Assignment of Note California All Purpose Acknowledgement Certification of Trust

Change of Ownership Statement by County

Change of Ownership upon Death by County Claim of Lien

​Claim for Reassessment Exclusion for Transfer Between Parent and Child (Locate Your County)

Claim for Reassessment Exclusion for Transfer Between GrandParent and GrandChild (Locate Your County)

​Corrective Affidavit for Minor Re-Recording Correction

​ Declaration of Homestead Declaration of Abandonment of Homestead Declaration of Non-Military Service Deed in Lieu of Foreclosure Deed of Trust with Assignment of Rents as Additional Security ​Deed of Trust with Assignment of Rents 

Deed of Trust with Assignment of Rents (Short Form)

​ Deed of Trust - Modification and Supplement Estoppel Affidavit

Full Reconveyance

Grant Deed - Interspousal

Grant Deed - Interspousal Transfer Grant Deed ​

Grant Deed - Interspousal Specific R&T63​ Grant Deed - Right of Survivorship​

​Grant Deed - Interspousal Community Property w/Right of Survivorship Grant Deed

​Grant Deed - Trust Transfer

Homeowners' Exemption by County

Homestead Declaration Interspousal Grant Deed Form 1 Interspousal Grant Deed Form 2 Interspousal Grant Deed ​ Interspousal Transfer Grant Deed

​Interspousal Grant Deed Specific R&T63

Interspousal Grant Deed Community Property w/Right of Survivorship Long Form Security Installment Land Contract with Power of Sale and Request for Notice of Default Prior Loan Paymen​t Memorandum of Option

​Military Discharge Recording Sheet

​Military Non-Service Declaration Modification and Supplement Deed of Trust Mortgage

NEW CONSTRUCTION EXCLUSION FROM REASSESSMENT

Non-Military Service Declaration

​Note Secured by Deed of Trust (Interest Included)

​Note Secured by Deed of Trust (Interest Extra)

Note Secured by Deed of Trust (Straight Note)

Note Secured by Deed of Trust (Straight Note - Interest Only)

Notice of Cessation Notice of Completion Notice of Default and Election to Sell Under Deed of Trust Important Notice

​Notice of Default and Election to Sell Under Deed of Trust Cover Language Notice of Non-Responsibility   Notice of Rescission Notice of Termination of Right of First Refusal   Notice of Trustee's Sale

​Notice of Trustee's Sale Cover Language 

​ Option to Purchase (FKA Memorandum of Option) Partial Reconveyance Power of Attorney   Preliminary Change of Ownership (By County)

ProLink Acknowledgement  Publication of Authorization Quitclaim Deed Recorders Cover Page Release of Claim of Mechanic_x27_s Lien Request for Full Reconveyance Request for Notice  Request for Partial Reconveyance

Recording Exemption Cover Page for Building Homes & Jobs Act (SB2)

​Rescission of Reconveyance

​Rescission of Partial Reconveyance Rescission of Trustee's Deed

​Satisfaction of Judgment Satisfaction of Mortgage Specific Release of LIen as to Specific Property Statement of Information Spanish Statement of Information Subordination Agreement Substitution of Trustee and Deed of Full Reconveyance Substitution of Trustee

​Transfer on Death (TOD) Deed (Revocable) 

​Transfer on Death Deed (Revocation of Revocable)  Trust Certification Trust Transfer Grant Deed Form Trustee's Deed Upon Sale Uninsured Affidavit​

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Deed of Assignment

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A Deed of Assignment is an instrument of transfer which is used in real estate transactions to transfer legal title or the ownership of a land or building from the title holder (called the assignor ) to another called the assignee , usually for a consideration (money or money's worth).

The title transfer is done in writing, signed, sealed and delivered by the parties to the transaction. This is a very important document that should be delivered to the purchaser after the conclusion of the sale of any real property .

Note: This document is different from the Contract of Sale because although it is a vital document in real property sale and purchase transactions, the Contract of Sale alone does not transfer ownership or interest in real estate. On the other hand, a registered Deed of Assignment not only transfers legal interest in real property but also serves as the assignee's root of title . This means that a registered Deed of Assignment is enough proof of ownership of real property .

According to the Land Use Act, all state and federal lands are vested in the governor of each state and the federal government respectively, who hold the lands as trustees for Nigerians. Consequently, a person who acquires ownership of land in Nigeria is granted a certain term of years (usually 99 years) and is not referred to as the owner but the holder of a term of years and can assign the remainder of such term to another under a Deed of Assignment.

Note that if a person gifts another a real property , a Deed of Gift should be executed for this purpose.

How to use this document

The document should outline the names and addresses of the parties, a detailed description of the property being conveyed, the origin of the property, covenants and representations of the assignor.

After completing this document, the parties should sign the document . If either of the parties is an individual , the individual should sign the document and the document must be attested by one witness who will put their name, occupation, address and signature. If either of the parties is a company , the common seal of the company should be affixed on the document and either two directors or one director and one company secretary should sign the document.

After the documents have been properly executed, either of the parties (particularly the assignee) should take steps to register the property . The parties should consult a real property agent or their lawyer to register the property .

The assignor should deliver at least 4 (four) signed copies of this document to the assignee for registration at the requisite lands registry. The assignor can also keep a signed copy of this document for their record .

Applicable law

The Land Use Act 1978 applies to this document. The Property and Conveyancing Law of 1959 , Lagos State Registration of Titles Law 2004 and the Registration of Titles laws of various states are also applicable to this document.

How to modify the template

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A guide to help you: How to Acquire Real Property in Nigeria

Other names for the document:

Deed of Agreement for Land, Deed of Assignment for Agreement, Deed of Assignment for Contract, Deed of Assignment for Land, Deed of Assignment of Real Property

Country: Nigeria

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