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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.

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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

Commercial Real Estate - Other downloadable templates of legal documents

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HOW TO PREPARE DEED OF ASSIGNMENT IN LAGOS NIGERIA

A deed of assignment is the legal instrument prepared and drafted by a lawyer of an assignor (seller) or assignee (buyer) upon the negotiation and completion of a sale of the land transaction. It is used to transfer legal title and ownership to land from the assignor to the assignee for a consideration paid and accepted by the assignor.

Deed of assignment is evidenced in writing to be signed, sealed, and delivered by parties to the transaction. A deed of assignment is said to have been delivered when interest has passed and the interest can be passed with or without a physical handover.

Requirements to Prepare a Deed of Assignment In Lagos

There are important information to be requested from parties when preparing a deed of assignment in Lagos, as they would form the particulars contained in a valid deed of assignment that can be enforced by the court.  The same requirements are applicable in other parts of the country. These particulars are as follows;

• Full details of parties to the transaction (names, address, status). the parties must be persons at law, i.e. individuals or corporate entities.
• Nature of assignor’s (vendors) title.
• The full description/particulars of the property with fittings & fixtures where applicable.
• History of the property being transferred from the first time it was acquired to the current time of sale, including documents it previously had to date.
• Details of the document that the property possesses.
• The consideration paid in respect of the property transaction (purchase price) and the willingness of the assignor to accept the price paid for the property.
• The nature of the transaction and the capacity of the assignor (vendor).
• Covenants both parties to the transaction undertake to fulfill to perfect the transfer of the title.
• Signature of the parties and that of the witnesses to the transaction and where either party to the transaction is a company, the common seal of the company will be affixed to the deed and will be signed by two directors or one director and a secretary of the company.
• Survey plan, local authority, and town planning authority of the area.
• Name and address of the Legal practitioner who prepared the deed.
• Illiterate jurat which is to be attested before a Magistrate or Notary Public (this is particularly necessary where either party to the transaction is illiterate).
• Section for the Governor’s consent to be signed by Governor or designated representative of the Governor.

Where the above information has been had and obtained, the deed of assignment is subsequently prepared by the solicitor acting on behalf of the assignee or acting on behalf of both parties to the transaction and copies will be delivered to each party.

Upon payment of the full consideration and due execution of the deed, the assignee is to take steps to register the deed of assignment for the perfection of title at the Land Registry, where the following process will be followed;

• Obtaining Governors Consent upon application and payment of prescribed fees, such as charting fee, application fee, administrative charges, and endorsement fee, etc.
• Stamping of the deed of assignment by the Lagos State Internal Revenue Service (SIRS) where the parties to the transaction are individuals or the Federal Inland Revenue Service (FIRS) where either party to the transaction is a company.
• Registration of the deed of assignment by presenting the deed of assignment to the Lagos State Lands Registry within 60 days of execution of the deed, for registration which subsequently signifies the completion of the registration process.

A deed of assignment which is also called a deed of conveyance in some jurisdictions is a legal document that transfers ownership and interest in land from an assignor to the assignee. It is prepared by a lawyer representing the buyer or representing both parties to the transaction.

A deed of assignment after due execution should be registered with the state government where the land is registered. A registered deed of assignment transfers a legal interest in the property and serves as a good root of title that signifies the transfer of title from one person to another.

By Real Estate Law Team at Resolution Law Firm

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Everything You Need to Know About the Deed of Assignment in Nigeria

Following the resolutions enshrined in the Land Use Act of 1978, the Governor of a State in Nigeria is the custodian of the landed properties – and is at liberty to distribute the same. That makes it essential for every property owner to have the relevant documents to have a legal claim. The Deed of Assignment is one such document.

In this article, we talk about the relevance of the Deed of Assignment and some of the benefits it offers.

What is the Deed of Assignment?

It is a legal document that records the sale of land, as well as conveys to the owner or holder, the exclusive rights to use and resell the land. Hence, the presence of this document in any real estate transaction helps to confirm the authenticity of the property , ascertaining that the holder is the original or current owner and that such a person, is by law, permitted to transfer the legal rights of ownership to the buyer or new owner – the assignee .

When is the Deed of Assignment Issued?

The document is typically issued at the end of a landed property transaction. The seller (the assignor) offers this document to the buyer (the assignee), signifying the former’s transfer of the legal rights and interests in the land to the latter.

If you are purchasing from a real estate company, like Grounds and Cribs , you will get the document on the completion of the transaction. A deep delve into this article will reveal how long it takes to get a deed of assignment in Lagos .

Who Prepares the Deed of Assignment?

Only a practicing lawyer can be allowed to prepare the Deed of Assignment in Nigeria. To ensure fairness, the lawyer will take into account the interests of the parties involved (the client/assignee, and the seller/assignor).

On preparation, the document will be released to the seller or assignor for vetting and or corrections. Once this stage is over, the lawyer will prepare the final draft for both parties to authorize the transaction.

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2 Features of the Deed of Assignment

For this document to become valid, certain pieces of information. The required data cuts across the parties’ information, the details of the land, and any other financial-related information.

1. Transacting Parties’ Information

Data of the transacting parties (the seller and buyer) will be provided. This includes:

• The names, addresses, and statuses of the transacting parties.
• Signatures of the buyer and seller
• Signatures of the witnesses to the transaction.
• The nature of the transaction.
• The vendor/seller/assignor’s capacity.

2. Property’s Details

Information about the land or property will also be required. The data includes the nature of the vendor or seller’s title, the land survey plan, and the due date for assigning the land from the seller to the buyer.

Other pieces of information required are:

• The land’s history, from the time it was it was initially obtained or paid for, down to the current transaction.
• The amount of money involved or the buy price . The seller will also specify the readiness to accept the assignee or buyer’s offer.
• The specifications, descriptions, or fixtures in the property.

Other information included in the Deed of Assignment are:

• The details of the lawyer who prepared the document, including the name, office address, and contact detail(s).
• Details of the verifiable document that the property bears.
• A dedicated section for the Governor’s Consent to be signed and validated.

3 Stages to Getting the Deed of Assignment

Before the Deed of Assignment is assigned, several steps, procedures, or stages must have been completed. These include:

a. Obtaining the Governor’s Consent

This is as per the stipulations in The Land Use Act, LFN 2004. The acquisition of the Governor’s Consent is based on the provision that the property in question must be registered at the registry, in the vendor or seller’s name.

Once this is ascertained, the following procedures will follow:

• The application for the Governor’s Consent will be made at the registry.
• The Land Form 1C will be used for this purpose.
• The parties will provide the necessary information in the form.
• Both the seller and the buyer will append their signatures to the form.
• The parties to the transaction (the buyer and the seller) will swear to the form, either before a notary public or a magistrate.
• On completion, the form will be sent to the Commission assigned by the Governor of the State to attend to such.

b. Stamping of the Deed of Assignment

Following the Governor’s approval or consent via the Commissioner specifically designed to grant such requests; the Deed of Assignment will then be ready for the next stage. This is the signing stage and it is up to the solicitor to verify that the stamp duty due to the transaction has been paid.

c. Registration of the Deed

This is the final stage of getting the Deed of Assignment prepared. In this stage, it has to do with registering the deed. It is important because the deed is deemed to be a “registrable instrument.” By the registration, it becomes admissible in the court as evidence and helps to avoid fraud and related problems, arising from the omission of instruments, after the title is deduced.

As per the stipulations of Section 25 of the Lagos State Instrument Registration Law, the deed must be registered within sixty (60) days after execution. The completion of this process paves the way for the Deed of Assignment to become a legal document, to formalize the land transaction and to serve as a solid root title of the land.

Benefits of the Deed of Assignment

Having this document goes beyond formalizing the transaction. You can use the Deed of Assignment because of these reasons:

• It serves as the valid root title of the land. Hence, it solidifies the vendor or seller’s legal rights to transfer the land.
• The Deed of Assignment also highlights the interests of the parties involved – the buyer and the seller.

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Final Words

The Deed of Assignment is the main document in a real estate transaction, as it shows the subsisting information, such as the necessary due diligence is done, the investigations, and the negotiations by the transacting parties.

Always contact a lawyer to help you draft the document, in a way that your interests and that of the other transacting party are covered.

Looking to invest in Epe, Lekki, Ibeju-Lekki, Ajah or any other parts of Lagos or Nigeria? Reach out to our team on WhatsApp, wa.me/+2347031211154 or call +2347031211154 for a list of available properties and to book an inspection

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Deed of Assignment in Nigeria: A Complete Guide (2024)

In Nigeria, the Deed of Assignment is paramount for transferring property ownership. This legal document, vital for transferring land ownership, serves as a legal root of title to the property. It’s essential to meet specific legal requirements for its validity, often necessitating a lawyer’s assistance. Registering the deed with the relevant land registry is crucial to legally prove the property transfer.

Key Takeaways:

• The Deed of Assignment is a vital document for property ownership transfer in Nigeria.
• Legal requirements must be fulfilled when creating a Deed of Assignment.
• It is recommended to consult a lawyer for proper preparation of the deed.
• Registering the deed with the relevant land registry is essential for legal proof of property transfer.
• Cost of preparing a deed of assignment can vary based on property value and lawyer’s expertise.

Importance of a Deed of Assignment in Nigeria

• Transfers ownership of land or property from one party to another.
• Serves as a legal root of title to the property.
• Essential for establishing clear and legal property ownership.
• Provides security and protection for the new owner.
• Prevents potential future disputes or claims regarding the property.

Procedure for Executing a Deed of Assignment in Nigeria

• Prepare the necessary documents including names and addresses of the parties, date of transfer, nature of the assignor’s title, property description, and purchase price.
• Ensure both the assignor and assignee sign the deed.
• Have the deed prepared by a qualified lawyer to ensure its legality.
• Register the deed with the relevant land registry to establish legal proof of the property transfer.
• Consider the cost factors, such as the value of the property and the lawyer’s expertise, and budget accordingly.
• Seek legal assistance to ensure proper execution and registration of the deed.

In wrapping up, navigating the terrain of property ownership transfer in Nigeria need not be a herculean task. The Deed of Assignment is your legal compass, guiding the transfer process seamlessly. While it’s a journey filled with legalities and paperwork, remember that each step fortifies your claim, solidifying your ownership and safeguarding your investment against future disputes.

Don’t shy away from seeking legal counsel to ensure every ‘t’ is crossed and ‘i’ dotted. Your property is a significant investment; give it the legal backing it deserves. Stay guided, stay legally secured. Cheers to the new property owners

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Azeez Onifade

Abdul Azeez is a land Surveyor and a Real Estate enthusiast. He has about 11years experience in the industry.

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Deed of Assignment

Updated: Nov 11, 2021

Lex Futurus Group

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Key description

• The Deed of Assignment, unlike the Deed of Lease, lets a party legally alienate their landed property to another, inclusive of their unexpired interest (usually 99 years under the Nigeria law and practice) based on a consideration. With the Deed of Assignment signed and executed under the relevant Nigerian real estate law regime, a party has no reversionary interest.

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HOW DO I GET A DEED OF ASSIGNMENT FROM A LAWYER IN NIGERIA

A Deed of Assignment is a very important legal title document that is used to record a sale of land.

1/3/2024 3 min read

Quality, not quantity

We have made quality our habit. It’s not something that we just strive for – we live by this principle every day.

First all, we will start by defining what a deed of assignment is all about.

A Deed of Assignment is a very important legal title document that is used to record a sale of land. Also, it transfers interest and title in real property from one party to another, starting from the commencement date stated in the document. In order words, a deed of assignment is an agreement where an assignor assigns his or her ownership in land or property to an assignee. The state within Nigeria where the property is being transacted usually determines whether the deed of the assignment will be the appropriate property transfer agreement to be drafted or deed of conveyance. The deed gives a specific description of the property that is included in the transfer of ownership, consideration and other covenants between parties.

Majorly the function of deed of assignment is to transfer an interest in or assign the title of property from a seller (an assignor) to a new buyer (the Assignee). The deed of assignment must include certain important information to be requested from parties when preparing a deed of assignment, as they would form the particulars contained in a valid deed of assignment that can be enforced by the court. These information are as follows;

Particulars of parties to the transaction (names, address, status). the parties must be persons at law, i.e. individuals or corporate entities.

Day on which they transferred the property from the vendor to the buyer.

Nature of assignor’s (vendors) title.

The fall description/particulars of the property with fittings & fixtures of the property where applicable.

History of the property being transferred from the first time it was obtained to the current time of sale, including all the documents it previously had to date.

Details about a verifiable document the property bears.

The consideration paid in respect of the property transaction (purchase price) and the willingness of the assignor to accept the price paid for the property.

The nature of the transaction and the capacity of the assignor (vendor).

Covenants both parties to the transaction undertake to fulfill to perfect the transfer of the title.

Signature of the parties and that of the witnesses to the transaction and where either party to the transaction is a company, the common seal of the company will be affixed to the deed and will be signed by two directors or one director and a secretary of the company.Survey plan, local authority, and town planning authority of the area.

Name and address of the Legal practitioner who prepared the deed.

Illiterate jurat which is to be attested before a Magistrate or Notary Public (this is particularly necessary where either party to the transaction is illiterate).

Section for the Governor’s consent to be signed by the Governor or designated representative of the Governor.

WHY IS THE DEED OF ASSIGNMENT IMPORTANT

If you want to buy land, it’s essential to always discuss issues like this with your lawyer for clarifications, especially if you want to buy land. A deed’s purpose is to transfer legal ownership of a property or asset from one person or corporation to another.

FOR TRANSFERRING LAND TO THE OTHER PARTY BEFORE IT EXPIRES

This covers both the essential conditions as well as the specific terms that the parties to the transaction have agreed upon. To guarantee that a deed of assignment appropriately represents the interests of all parties involved in the transaction, a real estate attorney should draft it. The deed of assignment is drafted by the assignee's lawyer, is approved by the assignor, and is then executed (vendor). If the property is a part of an estate, the assignor's lawyer may prepare the deed for review by the assignee's lawyer.

IT ACTS AS VALID ROOT OF TITLE TO THE PROPERTY

A deed of assignment is also important since it serves as a valid root of title to the land.It serves as valid evidence of transfer, particularly when the legitimacy of the land is disputed or a third party attempts to claim ownership of the same land.

WHO SIGNS A DEED OF ASSIGNMENT

The assignor and the assignee(s) must both sign the deed, and they must tick the corresponding box (or boxes) for each signature. However, if there is a joint tenancy and two people own the policy. Therefore, both policyholders must act as assignors.

WHO PREPARES THE DEED OF ASSIGNMENT IN NIGERIA

Knowing who is responsible for creating the deed of assignment will help you prevent any misunderstandings along the road. The deed of assignment is drafted by the assignee's attorney, who then gives it to the assignor (vendor) for approval and execution. The assignor's attorney may prepare the deed for the assignee's attorney to review if the property is a part of an estate.

NB: This article is not a legal advice, and under no circumstance should you take it as such. All information provided are for general purpose only. For information, please contact [email protected]

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Documents Required For Property Transfer In Nigeria (UPDATED)

Buying a Land or a House goes beyond just making payments, there is a need to have the required documents for property transfer – from the seller to the buyer – in order to avoid unnecessary cases with others or the government.

Before we go into details of the documents required for property transfer in Nigeria , it is important to imagine these documents as receipts you collect after making purchases like phones, shoes, bags etc. Or even the certificate awarded at the completion of your degree. In whatever sizes or shape they come, the main purpose is that they serve as PROOF. 

If you ever get into a property transaction, you definitely need to have proof other than word of mouth.

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Certificate Of Occupancy

The Certificate of Occupancy is the most important land document in Nigeria . It is that which certifies the legal and ownership status of any land in Nigeria irrespective of its usage. It is the document that indicates that an individual as being granted statutory right of occupancy by the Governor of the state where the land is located or a customary right of occupancy by the Local Government Chairman, depending if the land is in a rural area. While the Customary Right of Occupancy is issued by the Local Government Council, the Statutory Right of Occupancy is issued by the State Government.

The Certificate of Occupancy is the document given to an individual which proves ownership of a piece or larger parcel of land as attested by the government in accordance with applicable laws of the state. Over the years, people have to present the Certificate of Occupancy in order to claim a land.

Right of Occupancy (R of O)

The Right of Occupancy often referred to as the “R of O”, was introduced by the Land Use Act. This is another document required by an individual for property transfer in Nigeria. Right of Occupancy as the name depicts, means a particular person has the right to use and occupy a land in accordance with the Land Use Act provisions. This does not in anyway mean they have claims as ownership to the land.

The R of O grant individuals or corporate organization rights over a plot or parcel of land in government approved layouts. The right is usually for a period of time, a maximum of 99 years is granted for residential purposes, while it is between 35 to 70 years for other uses, depending on the value improvements.

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Deed Of Assignment

The Deed of Assignment is a very important document required for any property transfer in Nigeria. It must be demanded and given to a buyer after the conclusion of a land or property transaction between the buyer and the seller (property owner) of land or property. A Deed of Assignment is there an agreement between the seller (assignor) and buyer (assignee). It is where the assignor states the details of the transaction with the assignee, which includes his promise to assign the ownership of the property or land from a specific date to the assignee. In the deed, the details of the contract are spelt out: the date when the ownership is transferred from one person to the other, the specific description of the property, location etc.

A Deed of Assignment, therefore, is an agreement where an assignor states his promise that from the date of the assignment or any date stipulated therein, the assignor assigns his ownership in that Land to the assignee.

The deed contains very important information of any real estate transaction. Apart from the Certificate of Occupancy, the deed of assignment is the most recognized document with matters related to land in Nigeria. It helps to trace the history of how a land or property got to the present owner, as well as any dispute that might have occurred.

The document must contain the names and descriptions of the parties, detailed description of the property, agreed purchase price, acknowledgement of receipt of that amount, the capacity in which the vendor is selling, a warranty that he had the right to sell etc.

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Deed Of Lease

A Deed of Lease is the formal document (contract) entered into for a commercial property by the tenant and landlord after an Agreement to Lease is signed. The deed of lease is always prepared based on the information contained in the Agreement of Lease terms after it has been reached by the landlord and the tenant.

Deed Of Sub-lease

The Deed of Sub-lease is another important document in any property or land transactions. It is the legal document signed and stamped, indicating a land property transaction between the leaseholder of land sub-leasing his/her unexpired lease term to a third party.

Deed Of Mortgage

A mortgage is the transfer of an interest in land as security for the discharge of a debt or the performance of an obligation subject to redemption. It is the security for loan with an undertaking for repayment and cesser on redemption.

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Survey Plan

This is also another important document that helps reveal the true ownership status of a property or land. It allows you to know if the land is under any government acquired or committed area. In cases where the land is without a building, it is important to do thorough research on whether or not the land is not acquired by the government.

Above are some of the important documents required for property transfer in Nigeria. Kindly share your experience as regards property transfer with fellow PropertyPro.ng readers.

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One comment.

Hello, if you buying an apartment (3rd floor apartment) in a five (5) storey building inside an estate managed by the development company, will I still need a survey? A form 1C? Either from the development company or the owner of the apartment that wants to resell?

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