The Deed of Assignment
REGISTRATION FOR DEED OF ASSIGNMENT IN LAGOS STATE
DEED OF CONVEYANCE IN NIGERIA
A deed of assignment is an agreement where an assignor assigns his or her ownership in land or property to an assignee. The deed of assignment in Nigeria contains very pertinent information for a real estate transaction. The deed of conveyance in Nigeria also comprises the same information as a deed of assignment; there is no significant difference between the two. 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.
In most situations, when the deed of assignment has been exchanged between both parties, it has to be recorded in the land registry to show legal proof that the land has exchanged hands and the public should be aware of the transaction. Such recorded deed of assignment comes in the form of either a Governor’s consent and registration. The Deed of Assignment spells out the key issues in the transaction between the seller and the buyer so that there will not be any confusion or assumption after the property has been transferred to the new owner.
The steps for registration are as follows;
Upon the execution of the Deed of Assignment, it must be duly registered and be consented to by the Governor in accordance with the provisions of the Land Use Act, LFN 2004.
- Obtainment Governor’s Consent
- Stamping of the Deed
The Deed of Assignment, otherwise known as Deed of Conveyancing in other states in Nigeria is the document transferring the sale of land or property from one buyer to another. The names of the parties to a Deed of Assignment are Assignor (the Seller) and Assignee (the purchaser).
When a deed of assignment has been duly executed among parties to a land transaction, it must be duly registered with the state government where the land is located. The registration of land’s title shall commence with the obtainment of Governor’s Consent with the provisions of the Land Use Act.