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 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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Understanding a deed of assignment for intellectual property by Brette Sember, J.D.
Understanding a deed of assignment for intellectual property
A deed of transfer is used to change the ownership of intellectual property, a common occurrence in business. Explore how and when to use one.
by Brette Sember, J.D. updated February 07, 2023 · 3 min read
Most companies have intellectual property as part of their assets, including software, product design, or copyright to white papers. Buying or selling such property is done using a document called a deed of assignment.
Understanding intellectual property in buusiness
A large part of what a business consists of may be tied to intellectual property . It's easy to see physical property a company owns, such as a building, office furniture, or inventory, but intellectual property can be more challenging to identify.
Most businesses have intellectual property, or works created by human minds or, in some cases, by computers. Some examples of intellectual property include architectural drawings, ad campaigns, company or product names, inventions, and source code.
How to transfer intellectual property rights in business
Examples of when transfers of intellectual property might happen include when a company is buying another company, when you are setting up an LLC and want to transfer your intellectual property into the company, or when a business buys product rights from another company or individual.
A deed of assignment can be done in one transaction, instead of one transaction for each item of intellectual property, by transferring all ownership rights of all intellectual property detailed in the deed. The document is signed by both the buyer and seller. No payment is required for it to be valid.
What to include in a deed of assignment
A deed of assignment must be in writing and should include:
- The names and addresses of the assignor and assignee
- A description of the program or product for which the rights are being transferred
- A statement that all intellectual property rights to the property are being transferred
- Signatures of the parties and the date of the agreement execution
The deed could also include the following sections, where applicable:
- Consideration, or payment, to be made to the original owner.
- Warranties, or promises that the intellectual property rights being assigned don't infringe on anyone else's intellectual property rights . For example, in a deed regarding the transfer of a copyright, this section could state that the copyrighted work is original and not owned by someone else.
- Indemnification, or promise by the seller to reimburse the assignee if there is some problem with title to the property.
- Future assignments. For example, the agreement could be ongoing, so that anything the assignor creates in the future for this product or program is also transferred to the buyer.
Registering new ownership
Although a deed of assignment transfers ownership in intellectual property, it does not change the registration of the ownership. The assignee is responsible for handling all registration requirements.
For example, if a patent is transferred via a deed of assignment, the new owner must record the change in ownership with the U.S. Patent and Trademark Office. Similarly, the transfer of a copyright is recorded with the U.S. Copyright Office.
Restrictions on intellectual property transfers
Transfers of intellectual property must comply with U.S. laws. One obvious caveat is that you can't transfer property you don't own. Transfers must also comply with antitrust laws, which are set up to prevent one company from completely dominating an industry.
If intellectual property rights are being transferred overseas, the transfer must comply with Export Administration Regulations and the International Traffic in Arms Regulations , which are designed to protect national security and trade.
The deed of assignment can be a crucial part of a business deal or transaction. You can create a deed of assignment yourself, or you can work with an attorney .
About the Author
Brette Sember, J.D.
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Deed of assignment
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What is a Deed of Assignment and the Foolish Risk your taking for not having a Deed of Assignment for your Land
By omonilelawyer | july 15, 2017 | 40,849 | 39.
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 I know 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 was 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. What then is this all important deed of Assignment I am alluding to? This can be found from the following definitions below:
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.
The Deed of Assignment acts a main document between the buyer and seller to show proof of ownership in favour of the seller . The person or Seller who transfers his rights or interests in that property is usually called the Assignor and the person who receives such right or interest from the Seller is called the Assignee.
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.
Signing a Deed of Assignment and having that Deed is your number 1 evidence against another person that is trying to claim ownership of that same land too. If you have a land and no deed yet, i feel sorry for you! Better consult your Lawyer to go draft one for you now to save yourself future problems
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 come in the form of either a Governor’s consent or registered conveyance.
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 . Such Key issues include:
1. The Parties’ to the Agreement e.g between Mr A and Mrs K
2. The addresses of both parties and how it is binding on their successors, friends, colleagues and those representing them in any capacity.
3. The history of the land in question how it was first obtained down to the moment its about to be sold including and documents it previously had till this date
4. The agreed cost of the land and the willingness of the Seller to finally accept that price paid for the land
5. The description and size of the land to be transferred.
6. The covenants or promises both parties choose to undertake to perfect the transfer of the document
7. The signature of the parties to the Assignment and Witnesses to the Transaction
8. Finally the section for the Commissioner of Oaths or Governors Consent to sign and validate the agreement.
These are the important features of a Deed of Assignment and must be included in all Documents for it to be valid. Don’t listen to any Omonile who tells you he doesn’t or the family doesn’t sign a deed of assignment and that it is only a receipt you need. He is only looking for a way to resell your land to another person and to use receipt as a ploy to prevent you from establishing true ownership of your land.
Always consult a property lawyer before you buy a land to help prepare a deed of assignment. It will be your greatest mistake if you don’t have one. Below is a sample deed of assignment and how it looks so that you don’t fall victim of land swindlers
SAMPLE DEED OF ASSIGNMENT
The Cover of the Deed of Assignment must show the parties to the transaction and the description of the land sold
The first page of the Deed of Assignment must contain the parties to the transaction and the brief history of how the land became the Sellers property
The third page must contain the description of the land to be sold, the surveyor that did it, the cost of the land, the acceptance of the cost of the land and the promises both parties will make to themselves to abide with after the deal has been sealed.
The last page must show the signatures of the parties and the witnesses to that transaction and finally below , the section for the commissioner of oaths to endorse or the Governor to assent his consent to this transaction
Always consult a property lawyer before entering a legal contract.
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39 comments.
owolabi animashaun
how much is it to obtain governor consent of 3plots of land at okegbegun phase 2.,winner church along laspotech road ikorodu? or if there is C OF O Availiable? thanks
Barr. Matthew Ottah
I need the square meters of the survey plan so that I can fathom out N estimate of what it would cost. Cheers
I have a parcel of Land i had alredy built a 3-Bedroom Bungalow on at Magada behind MFM Prayer City. I only have a Signed Agreement from the One I bought it from. I have paid to the Omonile but yet to get a receipt from them. I have not done a survey yet. Kindly advice.
babatunde Ogunnowo
good morning. what is the difference bewteen a deed of sublease and a deed of assignment? which is preferable 2. what are the cost implications for processing any tyeo of deed. thanks. keep up the good work
Sir, I have plot at ogun state and for the deed of assignment, the land owners said I will pay 100K for them to get it done that there are four signatories to it. The issue now is that the said amount is too much. Pls I need your input on this. Thank You
Matthew Ottah
You need to negotiate with them to reduce the price
Please Mr Ottah can you send your number so I can call to ask for help?
My numbers are everywhere on the site. Cheers
sir,this deed…who is resposible to issusing it,i.e is it part of the document the omonile will give you when you have paid for the land or the buyer contracts a lawyer to draw it up after payment and takes to family(olori ebi) to sign their portions.
Your very correct sir. Both options are the right way to go about it.
how do you know a false land
I wanted to buy a land from one of this estate, I was told the estate has a Global C of O from Ogun state government and that upon payment I will be issued a Deed of Assignment. There after I can do the survey. My questions are: 1. I was told since the Estate has Global C of O, I might not necessarily need individual C of O. 2. What other documents do I need to process apart from the survey. You sincere advice will be appreciated. Thanks
sir, thank you very much sir for your advise, all what u said above is true even i presently find myself in dat situation, i bought just half plot of land from a family representative at abeokuta in which i only collected receipt from them without the deed of assigmnet and i started work on the land, im even through with the foundation about to start the main building. Sir, i will be very glad and happy if you can put me through on what are d next steps to take, though i have printed out all the deed of assignment you pasted up for me to rewrite and give them to sign.
Thanks you very much sir
Hi, I bought a land from a relative of which the land have a c of o under my Anty family name, my question is; 1. Do I have to do personal c of o on my name. 2. is’t secure under my Anty family name. I need an advice, and I will be looking forward to hear back from you because I don’t know what to do before is too late…thanks!
Good evening barrister, Pls must I first so a survey before I do a deed. We Purchased a land and we have just a receipt. Thank you
please is it legal for a non lawyer to prepare a deed of assignment? Thanks.
Please explain to me the difference between Deed of Assignment and Deed of Agreement. I am getting different interpretation and it is confusing. When I buy a family land, which one should I prepare for the family to sign?
They are the same thing sir and perform the same function.
Could you please tell me the importance of that red seal in a deed? What is its significance? How important is it? Thanks
Its of no serious importance in modern day execution of documents. As long as the parties have signed or attested to the documents with their signatures or personal thumbprint, the document is as good as been executed properly. People who use it are mostly Customary Land Families to show how important their signatures are
Giulia Devey
I have a deed of assignment which is signed but the property has an outstanding mortgage on the property. I have been paying this, however it fell into arrears and now the assignor is claiming against me for receiving adverse credit. This person did not take their name off the mortgage therefore would I be liable for her claim in court?
Yes you would because you have chosen to continue paying the outstanding mortgage. Your lawyer should have advised you on the perils of continuing the mortgage payment in your name
Pls. must a land have C of O before Governor conscent can be acquired if purchased from the owner? What happen when the land doesnot have C of O? can the buyer seek to get C of O in place of Governors conscent
Please can a commissioner for oath of Lagos State endorse the dead while the land is situated in ogun state
Can a deed of assignment be prepared for land that does not have C of O yet but which Allocation paper or R of O is ready?
name withheld
my friend bought a property an does not know how much to pay his attorney, the attorney are asking for 500k 180, and claimed they have to bribe some people to get them to follow the deed of assignment , is it a fraud of are the lawyers just trying to be a fraudulent?? thanks and have a good day
Good day Sir, I found this site and info therein helpful. Is it possible for a the seller to issue a 2 Deed of assignment to different person on the sme land.
What is the functional different between C of O and deed of assignment
Two people bought a plot of land. The seller bought it from another person. What documents must the new buyers get? Must each survey his own portion before the agreement?
omonile lawyer, pls i have power of attorney and deed of partition for a piece of land in abuja (4 of us bought and shared the land), do i still need deed of assignment?
Sir, I want you to send a soft copy of deed of assignment to my email. How much would it cost? [email protected]
Good day sir. I bought a plot of land, have a signed deed of assignment. But resently, d surveyor called me that there is need to create a road at my (land) back i.e a plot will b inbetween two roads and that i should shift my pillar and the corner piece. Now, i need ur advice on what to do sir. Thanks. N.B He is d one who sold d land, measured, pegged and put d pillar.
l can get in touch with the company l signed deed of assignment with 4 times no reply to me
Gabriel Joseph
To be honest with you this is really helpful. Thanks
how do I submit my deed of assignment for record purpose
pls sir,I bought a land with power of attorney from estate management.Am I entitle to omonile receipt and deed of assignment?
i have a land which was purchased from the estate developers but i lost all documents to it by an act of God. what can i do
please sir, can u help us with a sample of the shedule page so that i ccan coinfirm that the schedule page of the deed of assignment for my land is made in the right form
Ola Abiodun
I bought a land in my name and wife’s name. I have now built a property on this land and all the paper works including CofO and the plan have our names both. The land and the property was solely bought and built with my money. I understand we both have claim because her name is on the documents.
What do I need to do to take her name off the the property, both the land and the building? Can you also please advise the likely cost?
I look forward to hearing from you
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Deed of Assignment definition
Examples of deed of assignment in a sentence.
The Conditions of Sale and Deed of Assignment to be executed by the Assignee and the Successful Purchaser and the Memorandum of Transfer by the Developer to the Successful Purchaser are documents evidencing a single transaction.
For the purpose of Section 4(3) of the Stamp Act 1949, the Deed of Assignment shall be deemed the principal instrument.
More Definitions of Deed of Assignment
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 in 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 conveyance 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 purchaser after the conclusion of the sale of any real property .
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 convey legal 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 .
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 a 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 at the ministry of lands if the property is within the purview of the state government and the federal ministry of housing and urban development if the property is within the purview of the federal government or located in the federal capital territory, Abuja.
The Assignor should deliver at least three or 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 is applicable to this document. The Property and Conveyancing law of 1989 , 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 Assignment for Contract, Deed of Assignment for Land, Deed of Agreement for Land, Deed of Assignment of Real Property, Deed of Assignment for Agreement
Country: Nigeria
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What Is A Deed of Assignment, Anyway?
In any business, contracts will be everywhere you go — from your customers to suppliers, contractors, employees, graphic designers and even your monthly subscriptions!
However, contracts generally are signed between two parties.
So, what happens if one party wants to transfer or assign their rights and obligations under a contract to another party ?
This is where a Deed of Assignment comes in.
What Is A Deed?
In the legal world, there are two main types of legal documents: agreements and deeds.
Agreements are generally the most common contracts you’ll see. However, deeds work a little differently.
Put simply, a deed needs to be physically signed and witnessed in person. This means that it’s difficult to sign deeds with international parties.
So, it’s important to understand that a deed has specific requirements for execution.
What Is A Deed of Assignment?
A Deed of Assignment is a legal document that transfers or assigns the legal rights and obligations to another party.
And it varies depending on your situation.
For example, an assignment could work for simple things like intellectual property . When a graphic designer creates a logo for you, you might want to make sure that logo is owned by you. In this case, the graphic designer would “assign” that copyright to you.
Or, if you’re selling your business , you might want to transfer your contractual relationships to whoever is purchasing your business.
For example, if you have existing contracts with suppliers to your cafe business, you might look at transferring these to the buyer. Here, you’d sign a Deed of Assignment to transfer the rights and obligations of that contract to the new owner of your business.
A Deed of Assignment makes sure that you no longer have continuing obligations and rights as a signatory to that contract . The last thing you want is to be liable or accountable for a contract you forgot to assign to someone.
If you need help putting together a Deed of Assignment, let’s chat!
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Create your Deed of Assignment in minutes.
Quick-draft.
Most documents normally involve at least 2 persons and, for different reasons, the person drafting the document would want the terms to benefit one person more over the other. With our Quick-Draft feature, you can easily do this. As you answer the questions, we automatically pre-select the answer that most benefits the person you prefer. This way, you can be sure that your document benefits your preferred person more over the other. You can still change the pre-selected answer.
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Things you need to know about Deed of Assignment.
1. what is a deed of assignment .
A Deed of Assignment is a contract where the owner (the “assignor”) transfers ownership over a 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 to the property.
2. When do you need a Deed of Assignment?
A Deed of Assignment is used when the owner wants to transfer to another person the ownership (and the rights and obligations) of the property.
The deed is normally executed in the course (or as part of the terms) of another contract. However, if this is the case, the assignment is allowed only if the original contract allows the assignment and if the other party to the original contract agrees to the assignment.
3. What information do you need to create the Deed of Assignment?
To create your Deed of Assignment you’ll need the following minimum information:
- The type of assignor (e.g. individual or business) as well as name and details (e.g. nationality and address);
- The type of assignee (e.g. individual or business) as well as name and details (e.g. nationality and address); and
- Brief description of the property to be assigned.
4. How much is the document?
The document costs PHP 400 for a one-time purchase. Once purchased you have unlimited use and revisions of this type of document.
You can also avail of Premium subscription at PHP 1,000 and get (a) unlimited use of our growing library of documents (from affidavits to contracts); and (b) unlimited use of our “ Ask an Attorney ” service, which lets you consult an expert lawyer anytime for any legal concern you have.
Related Documents.
Activities that involve a Deed of Assignment sometimes use the following documents. You may be interested in them:
Deed of Assignment for Immovable Property
Assign your rights to immovable property (i.e. house, land, condomonium unit) to another person
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