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.
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HOW DO I GET A DEED OF ASSIGNMENT FROM A LAWYER IN NIGERIA
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 chamanlawfirm@gmail.com
WRITTEN BY CHAMAN LAW FIRM TEAM
EMAIL: chamanlawfirm@gmail.com
TEL: 08065553671, 08024230080