A Deed of Assignment is an Agreement between the Seller of a Land or Property and a Buyer of that Land or property showing evidence that the Seller has transferred all his rights, his title, his interest and ownership of that land to that the Seller that has just bought land.
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 pertinent information for a real estate transaction.
For one, it spells out the date when the ownership of the property transfers from one owner to the other.
The deed also gives a specific description of the property that is included in the transfer of ownership.
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.
The Deed of Assignment spells out the key issues in the transaction between the Seller and the Buyer so that there won’t be any confusion or assumption after the property has been transferred to the new owner.
A deed of Assignment is one of the most important documents YOU MUST HAVE when you conclude a Land Transaction. In fact it baffles me that 6 out of 10 people who have bought lands in the past have no deed of assignment.
They are always the first to complain that Omonile has defrauded them but they have no proof to show the property has been sold to them other than a receipt.
It’s funny that everyone has the title documents to their car showing who the seller is and how it was transferred from the Seller of that car to you the new owner but when it comes to landed properties which are 10 times more valuable than cars, we fail to ask for this one simple important document that can prove ownership of that land.
A deed of assignment is a land title document unlike a survey because it shows proof of ownership. BE GUIDED ENSURE you have a title document for your land and ensure you buy a property with the right title document. We can assist you with anything Land documents.
This content is brought to you by MODESTY REAL ESTATE LTD your number 1 real estate company committed to offering you VERIFIED and SECURED lands and real estate investments opportunities. Ready to invest or learn more?
GET IN TOUCH
Call /WhatsApp: 07087969482, 08135121421.
