what is a deed of assignment for

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 on January 01, 2024

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.

Hire the top business lawyers and save up to 60% on legal fees

Content Approved by UpCounsel

Define a Deed
Contract for Deed California
Contract for Deed in Texas
Assignment Law
Deed Contract Agreement
Assignment Of Contracts
Legal Assignment
Deed vs Agreement
Assignment Legal Definition
Contract for a Deed

Deed of Assignment or Deed of Novation: Key Differences and Legal Implications of Novation and Assignment Contracts

Novation and assignment stand out as pivotal processes for the transfer of contractual rights and obligations. These legal concepts allow a party to the contract to adapt to changing circumstances, ensuring that business arrangements remain relevant and effective. This article explores the nuances of novation and assignment, shedding light on their distinct legal implications, procedures, and practical applications. Whether you’re a business owner navigating the transfer of service contracts, or an individual looking to understand your rights and responsibilities in a contractual relationship, or a key stakeholder in a construction contract, this guide will equip you with the essential knowledge to navigate these complex legal processes.

What is a Deed of Novation?
What is a Deed of Assignment?

Key Differences Between Novation and Assignment Deeds

Need a deed of novation or assignment key factors to consider, selecting the right assignment clause for your contract – helping you make the right choice, what is a deed of novation.

Novation is a legal process that allows a new party to a contract to take the place of an original party in a contract, thereby transferring both the responsibilities and benefits under the contract to a third party. In common law, transferring contractual obligations through novation requires the agreement of all original parties involved in the contract, as well as the new party. This is because novation effectively terminates the original contract and establishes a new one.

A novation clause typically specifies that a contract cannot be novated without the written consent of the current parties. The inclusion of such a clause aims to preclude the possibility of novation based on verbal consent or inferred from the actions of a continuing party. Nevertheless, courts will assess the actual events that transpired, and a novation clause may not always be enforceable. It’s possible for a novation clause to allow for future novation by one party acting alone to a party of their choosing. Courts will enforce a novation carried out in this manner if it is sanctioned by the correct interpretation of the original contract.

Novation is frequently encountered in business and contract law, offering a means for parties to transfer their contractual rights and duties to another, which can be useful if the original party cannot meet their obligations or wishes to transfer their contract rights. For novation to occur, there must be unanimous consent for the substitution of the new party for the original one, necessitating a three-way agreement among the original party, the new party, and the remaining contract party. Moreover, the novation agreement must be documented in writing and signed by all involved parties. Understanding novation is essential in the realms of contracts and business dealings, as it provides a way for parties to delegate their contractual rights and responsibilities while freeing themselves from the original agreement.

What is a Deed of Assignment?

A deed of assignment is a legal document that facilitates the transfer of a specific right or benefit from one party (the assignor) to another (the assignee). This process allows the assignee to step into the assignor’s position, taking over both the rights and obligations under the original contract. In construction, this might occur when a main contractor assigns rights under a subcontract to the employer, allowing the employer to enforce specific subcontractor duties directly if the contractor fails.

Key aspects of an assignment include:

Continuation of the Original Contract: The initial agreement remains valid and enforceable, despite the transfer of rights or benefits.
Assumption of Rights and Obligations: The assignee assumes the role of the assignor, adopting all associated rights and responsibilities as outlined in the original contract.
Requirement for Written Form: The assignment must be documented in writing, signed by the assignor, and officially communicated to the obligor (the party obligated under the contract).
Subject to Terms and Law: The ability to assign rights or benefits is governed by the specific terms of the contract and relevant legal statutes.

At common law, parties generally have the right to assign their contractual rights without needing consent from the other party involved in the contract. However, this does not apply if the rights are inherently personal or if the contract includes an assignment clause that restricts or modifies this general right. Many contracts contain a provision requiring the consent of the other party for an assignment to occur, ensuring that rights are not transferred without the other party’s knowledge.

Once an assignment of rights is made, the assignee gains the right to benefit from the contract and can initiate legal proceedings to enforce these rights. This enforcement can be done either independently or alongside the assignor, depending on whether the assignment is legal or equitable. It’s important to note that while rights under the contract can be assigned, the contractual obligations or burdens cannot be transferred in this manner. Therefore, the assignor remains liable for any obligations under the contract that are not yet fulfilled at the time of the assignment.

Choosing Between Assignment and Novation in a Construction Contract

Choosing between a deed of novation and an assignment agreement depends on the specific circumstances and objectives of the parties involved in a contract. Both options serve to transfer rights and obligations but in fundamentally different ways, each with its own legal implications, risks, and benefits. Understanding these differences and considering various factors can help in making an informed decision that aligns with your goals.

The choice between assignment and novation in a construction project scenario, where, for instance, an employer wishes to engage a subcontractor directly due to loss of confidence in the main contractor, hinges on several factors. These are:

Nature of the Contract: The type of contract you’re dealing with (e.g., service, sales) can influence which option is more suitable. For instance, novation might be preferred for service contracts where obligations are personal and specific to the original parties.
Parties Involved: Consent is a key factor. Novation requires the agreement of all original and new parties, making it a viable option only when such consent is attainable. Assignment might be more feasible if obtaining consent from all parties poses a challenge.
Complexity of the Transaction: For transactions involving multiple parties and obligations, novation could be more appropriate as it ensures a clean transfer of all rights and obligations. Assignment might leave the original party with ongoing responsibilities.
Time and Cost: Consider the practical aspects, such as the time and financial cost associated with each option. Novation typically involves more complex legal processes and might be more time-consuming and costly than an assignment.

If the intention is merely to transfer the rights of the subcontractor’s work to the employer without altering the subcontractor’s obligations under a contract, an assignment might suffice. However, if the goal is to completely transfer the main contractor’s contractual role and obligations to the employer or another entity, novation would be necessary, ensuring that all parties consent to this new arrangement and the original contractor is released from their obligations.

The legal interpretations and court decisions highlight the importance of the document’s substance over its label. Even if a document is titled a “Deed of Assignment,” it could function as a novation if it transfers obligations and responsibilities and involves the consent of all parties. The key is to clearly understand and define the objective behind changing the contractual relationships and to use a deed — assignment or novation — that best achieves the desired legal and practical outcomes, ensuring the continuity and successful completion of the construction project.

Understanding the distinction between assignment deeds and novation deeds is crucial for anyone involved in contractual agreements. Novation offers a clean slate by transferring both rights and obligations to a new party, requiring the consent of all involved. Assignment, conversely, allows for the transfer of contractual benefits without altering the original contract’s obligations. Each method serves different strategic purposes, from simplifying transitions to preserving original contractual duties. The choice between novation and assignment hinges on specific legal, financial, and practical considerations unique to each situation. At PBL Law Group, we specialise in providing comprehensive legal advice and support in contract law. Our team is dedicated to helping clients understand their options and make informed decisions that align with their legal and business objectives. Let’s discuss!

Authored By Raea Khan

Director Lawyer, PBL Law Group

Find what you need

Share this article, book a 15-min consultation, rated 5-star by our clients, latest insights & practical guides.

Family Limited Partnership (FLP) for International Estate Planning

Family Limited Partnerships (FLPs) offer a strategic approach for families

How to Use Life Insurance for International Estate Planning: A Comprehensive Guide

Life insurance stands as an important tool for estate planning,

Choosing the Right Vehicle for International Estate Planning: A Guide to International Estate Planning Tools

When planning how to manage and pass on your estate,

Speak to us Now or Request a Consultation.

How can our expert lawyers help.

Property and strata disputes, building defects claims, setting up new Owners Corporations and more…

Construction & Building Law

Construction and building disputes, building defects, delays and claims, debt recovery and more…

International Estate Planning

Cross-border estate planning, international wills and trusts, tax-efficient wealth transfer strategies and more…

Commercial & Business Law

Starting and scaling your business, banking and business financing, bankruptcy and insolvency and more…

Planning & Environment Law

Environment and planning regulation, land and environment court disputes, sub-divisions and more…

Wills & Estates

Creating, updating and contesting wills, estate planning and administration, probate applications and more…

Get In Touch

Helpful links, site information, how we can help.

Thank You For Your Request.

We’ve received your consultation request and will contact you within the next 24 hours (excluding weekends).

Deed of Assignment (for Intellectual Property)

In the realm of intellectual property, a Deed of Assignment is a formal legal document used to transfer all rights, title, and interest in intellectual property from the assignor (original owner) to the assignee (new owner). This is crucial for the correct transfer of patents, copyrights, trademarks, and other IP rights. The deed typically requires specific legal formalities, sometimes notarization, to ensure it is legally enforceable.

To be legally effective a deed of assignment must contain:

Title of the Document : It should clearly be labeled as a "Deed of Assignment" to identify the nature of the document.
Date : The date on which the deed is executed should be clearly mentioned.
Parties Involved : Full names and addresses of both the assignor (the party transferring the rights) and the assignee (the party receiving the rights). This identifies the parties to the agreement.
Recitals : This section provides the background of the transaction. It typically includes details about the ownership of the assignor and the intention behind the assignment.
Definition and Interpretation : Any terms used within the deed that have specific meanings should be clearly defined in this section.
Description of the Property or Rights : A detailed description of the property or rights being assigned. For intellectual property, this would include details like patent numbers, trademark registrations , or descriptions of the copyrighted material.
Terms of Assignment : This should include the extent of the rights being transferred, any conditions or limitations on the assignment, and any obligations the assignor or assignee must fulfill as part of the agreement.
Warranties and Representations : The assignor typically makes certain warranties regarding their ownership of the property and the absence of encumbrances or third-party claims against it.
Governing Law : The deed should specify which jurisdiction's laws govern the interpretation and enforcement of the agreement.
Execution and Witnesses : The deed must be signed by both parties, and depending on jurisdictional requirements, it may also need to be witnessed and possibly notarized.
Schedules or Annexures : If there are detailed lists or descriptions (like a list of patent numbers or property descriptions), these are often attached as schedules to the main body of the deed.

Letter of Assignment (for Trademarks and Patents)

This is a less formal document compared to the Deed of Assignment and is often used to record the assignment of rights or licensing of intellectual property on a temporary or limited basis. While it can outline the terms of the assignment, it may not be sufficient for the full transfer of legal title of IP rights. It's more commonly used in situations like assigning the rights to use a copyrighted work or a trademark license.

For example, company X allows company Y to use their trademark for specific products in a specific country for a specific period.

At the same time, company X can use a Letter of Assignment to transfer a trademark to someone. In this case, it will be similar to the Deed of Assignment.

Intellectual Property Sales Agreement

An IP Sales Agreement is a detailed contract that stipulates the terms and conditions of the sale of intellectual property. It covers aspects such as the specific rights being sold, payment terms, warranties regarding the ownership and validity of the IP, and any limitations or conditions on the use of the IP. This document is essential in transactions involving the sale of IP assets.

However, clients usually prefer to keep this document confidential and prepare special deeds of assignment or letter of assignment for different countries.

IP Transfer Declaration

In the context of intellectual property, a Declaration is often used to assert ownership or the originality of an IP asset. For example, inventors may use declarations in patent applications to declare their invention is original, or authors may use it to assert copyright ownership. It's a formal statement, sometimes required by IP offices or courts.

When assigning a trademark, the Declaration can be a valid document to function as a proof of the transfer. For example, a director of company X declares that the company had sold its Intellectual Property to company Y.

Merger Document

When companies or entities with significant IP assets merge, an IP Merger Document is used. This document outlines how the intellectual property owned by the merging entities will be combined or managed. It includes details about the transfer, integration, or handling of patents, copyrights, trademarks, and any other intellectual property affected by the merger.

In all these cases, the precise drafting of documents is critical to ensure that IP rights are adequately protected and transferred. Legal advice is often necessary to navigate the complexities of intellectual property laws.

This site uses cookies to store information on your computer.

Some cookies on this site are essential, and the site won't work as expected without them. These cookies are set when you submit a form, login or interact with the site by doing something that goes beyond clicking on simple links.

We also use some non-essential cookies to anonymously track visitors or enhance your experience of the site. If you're not happy with this, we won't set these cookies but some nice features of the site may be unavailable.

By using our site you accept the terms of our Privacy Policy .

Now Trending:
UNDERSTANDING TENANCIES ...
THE SENIOR PARTNER OF PR...
Dr. Prince O. Williams-J...
How To Pick The Right Ho...

DEED OF ASSIGNMENT: EVERYTHING YOU NEED TO KNOW.

A Deed of Assignment refers to a legal document in which an assignor states his willingness to assign the ownership of his property to the assignee. The Deed of Assignment is required to effect a transfer of property and to show the legal right to possess it. It is always a subject of debate whether Deed of Assignment is a contract; a Deed of Assignment is actually a contract where the owner (the “assignor”) transfers ownership over 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 pertaining to the property.

In Nigeria, a Deed of Assignment is one of the legal documents that transfer authentic legal ownership in a property. There are several other documents like a deed of gifts, Assent, etc. However, this article focuses on the deed of assignment.

It is the written proof of ownership that stipulates the kind of rights or interests being transferred to the buyer which is a legal interest.

Read Also: DIFFERENCE BETWEEN TRANSFER OF PROPERTY THROUGH WILLS AND DEED OF GIFT

CONTENTS OF A DEED OF ASSIGNMENT

Content of a Deed of Assignment matters a lot to the transaction and special skill is needed for a hitch-free transaction. The contents of a deed of assignment can be divided into 3 namely; the introductory part, the second (usually the operative part), and the concluding part.

THE INTRODUCTORY PART: This part enumerates the preliminary matters such as the commencement date, parties in the transaction, and recitals. The parties mentioned in the deed must be legal persons which can consist of natural persons and entities with corporate personality, the name, address, and status of the parties must be included. The proper descriptions of the parties are the assignor (seller) and assignee (buyer). The Recitals give the material facts constituting the background to the current transaction in chronological order.
THE SECOND PART (USUALLY THE OPERATIVE PART): This is the part where the interest or title in the property is actually transferred from the assignor to the assignee. It is more like the engine room of the deed of assignment. The operative part usually starts with testatum and it provides for other important clauses such as the consideration (price) of the property, the accepted receipt by the assignor, the description of the property, and the terms and conditions of the transaction.
The testimonium : this shows that all the parties are involved in the execution of the deed.
Execution : this means signing. The capacity of the parties (either individual, corporate bodies, illiterates) is of great essence in the mode of execution. It is important to note that the type of parties involved determines how they will sign. Example 2 directors or a director/secretary will sign if a company is involved. In the same way, if an association, couple, individual, illiterate, family land (omonile), firm, unregistered association, etc. is involved the format of signature would be different.
Attestation : this refers to the witnessing of the execution of the deed by witnesses.

For a Deed of Assignment to be effective, it must include a column for the Governor of the state or a representative of the Government where the property is, to sign/consent to the transaction. By virtue of Sec. 22 of the Land Use Act, and Sec. 10 Land Instrument Registration Law, the Governor must consent to the transaction.

Do you have any further questions? feel free to call Ibejulekkilawyer on 08034869295 or send a mail to [email protected] and we shall respond accordingly.

Disclaimer: The above is for information purposes only and should not be construed as legal advice. Ibejulekkilawyer.com (blog) shall not be liable to any person(s) for any damage or liability arising whatsoever following the reliance of the information contained herein. Consult us or your legal practitioner for legal advice.

Only 22% of poorest Nigerian households have electricity access –World Bank

by Brette Sember, J.D.

Brette is a former attorney and has been a writer and editor for more than 25 years. She is the author of more than 4...

Understanding intellectual property in business

How to transfer intellectual property rights in business, what to include in a deed of assignment, registering new ownership, restrictions on intellectual property transfers.

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.

Illustrations and graphics surrounding the words "Intellectual Property"

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.

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.

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.

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.

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 .

Deed of Assignment and Transfer of Rights [Parts and Template]

A Deed of Assignment and Transfer of Rights is a legal document used when a person or a company who originally was a party to a contract (also known as the assignor or transferor) transfers his or its rights under the contract to another party (the assignee or transferee).

Accordingly, when the Deed of Assignment and Transfer of Rights has been drafted on the basis that in the original contract there is no prohibition to or restriction on assignment, and hence signed by both parties, it can be consequently assigned without the other contracting party’s consent.

In this article, I’ll try to dissect a sample Deed of Assignment and Transfer of Rights of a St. Peter Life Plan and provide descriptions of its fundamental elements or parts. As drafting a deed requires abundant caution, presence of mind, and knowledge of property and other allied laws, I highly advise that you seek help from experts and experienced in legal transactions.

Parts of a Deed of Assignment and Transfer of Rights

[1] Title of Deed . As implied above, deeds come in different forms and types. Check if the document and the first section displays the title – Deed of Assignment and Transfer of Rights. Conventionally, the first paragraph runs:

KNOW ALL MEN BY THESE PRESENTS:

This deed, made and entered made and entered into this 13 rd day of January 2018 at the City of Manila, by and between:

[2] Parties Involved . A Deed of Assignment and Transfer of Rights must contain accurate information about the identities of the assigning and assigned parties. Other information such as age legality, citizenship, and postal address must be included, just as seen below:

Juan De la Cruz, Filipino citizen, of legal age, married to Josefina De la Cruz, and with residence and postal address at 123 Kasiglahan Street, Karangalan Village, Dela Paz, Pasig City, Philippines, hereinafter referred to as the “ASSIGNOR/TRANSFEROR”

Sebastian Maliksi, Filipino citizen, of legal age, single, and with residence and postal address at 456 Kasimanwa Street, Karangalan Village, Dela Paz, Pasig City, Philippines, hereinafter referred to as the “ASSIGNEE/TRANSFEREE”

[3] Contract Details . A Deed of Assignment and Transfer of Rights must contain a detailed description of the contract, hence in the context here – St. Peter Traditional Life Plan (St. Anne) contract and the Life Plan Agreement (LPA) Number:

WHEREAS, the ASSIGNOR/TRANSFEROR is the owner of life / memorial plan contract which is identified as St. Peter Traditional Life Plan (St. Anne), with Life Plan Agreement No. 123456;

[4] Contract Assignment and Transfer Agreement . As one of the most important and critical parts, this specifies the terms and conditions of the agreement. See sample below:

WHEREAS, for and in consideration of the value of the plan and out of accommodation and assistance for the ASSIGNEE/TRANSFEREE, the ASSIGNOR/TRANSFEROR is assigning and transferring all his/her rights and interests over the Life Plan mentioned in the immediately preceding paragraph to the ASSIGNEE/TRANSFEREE;

NOW, therefore for and in consideration of forgoing premises, the parties hereto have agreed on the following terms and conditions, to wit;

THE ASSIGNOR/TRANSFEROR, hereby waives all his / her rights and interests in the subject life plan in favor of the ASSIGNEE/TRANSFEREE. It is understood that when the Life Plan is assigned / availed of, then all obligations of St. Peter Life Plan, Inc. are fulfilled and discharged.

As a consequence of this assignment / transfer of rights, the ASSIGNEE/TRANSFEREE hereby assumes all the obligations and accountabilities of the ASSIGNOR/TRANSFEROR to St. Peter Life Plan, Inc. in connection with the life plan contract which it issued to the latter.

The ASSIGNEE/TRANSFEREE obligates and / or undertakes to comply with and abide by the requirements which St. Peter Life Plan Inc. may impose in connection with the purchase, possession, and use of the said Life Plan particularly the requirement that it should be fully paid before the memorial service could be availed of pursuant to the Life Plan.

[5] Execution . Once the Deed of Assignment and Transfer of Rights is drafted, the parties involved shall execute it by affixing their signatures. Other than the assigning and assigned parties, witnesses should also sign all the pages of the document. In addition, the deed shall be acknowledged and notarized by a legal practitioner.

IN WITNESS WHEREOF the parties have hereunto set their hands on the date and place first above written.

[ Assignor/Transferor] [Assignee/Transferee]

SIGNED IN THE PRESENCE OF:

[Witness] [Witness]

Disclaimer: Although much effort has been exerted in the creation of this article, the author disclaims any legal expertise and does not guarantee the accuracy and legitimacy of any or all of the information. Hence, it is advised that you consult with professionals such as insurance brokers and lawyers before engaging in legal transactions.

How to Publish a Book in the Philippines

It all started when our colleague, a.k.a. Ginoong Makata, blurted out with his familiar head tilt gesture, “Tara, publish tayo ng libro.” We could have [Read more…]

Sample Application Letter for Teachers

Sample Application Letter for Teachers. Writing business letters has always been a challenging task. In fact, even professionals struggle dealing with appropriate expressions and tones. [Read more…]

Sample Graduate School Recommendation Letter

In a nutshell, a recommendation letter is a correspondence usually prepared by a former employer, immediate supervisor, colleague, professor, or someone else with the purpose [Read more…]

Be the first to comment

Share your thoughts cancel reply.

Your email address will not be published.

Drafting a Deed of Assignment

Try our AI Legal Assistant - it's free while in beta 🚀

Genie's AI Legal Assistant can draft, risk-review and negotiate 1000s of legal documents

Note: Want to skip the guide and go straight to the free templates? No problem - scroll to the bottom. Also note: This is not legal advice.

Introduction

A Deed of Assignment is a vital legal document used to transfer rights, interests or assets between parties. It is regularly used in business transactions, and often regarding real estate or intellectual property. A well-crafted deed of assignment can protect both sides from potential legal disputes, ensuring that everyone involved understands their obligations and responsibilities.

The Genie AI team has seen many instances where having a valid deed of assignment can make all the difference - without it businesses could be exposed to considerable risk. That’s why we offer free templates and step-by-step guides to help those wishing to draft their own deed.

When creating a Deed of Assignment it is important to take the specific circumstances into account - any changes or additions should be accurately documented and agreed by all involved parties beforehand. Furthermore, it is essential that the terms are clearly written out in an unambiguous way so every party knows exactly what they have signed up for. Beyond protecting both sides’ interests, this type of agreement can also be used for copyright assignments, leases, debt transfers and trusts.

Before signing on the dotted line it’s also critical that executing such documentation is done properly - all parties must sign in the presence of a witness who will also affix their signature and date the document accordingly. Once this process has been completed filings must then be made with any relevant government authorities whenever necessary (especially in cases involving real estate or intellectual property transfers).

In summary, drafting a Deed of Assignment not only safeguards everyone’s best interests but also provides additional benefits depending on its use case - reading through our step-by-step guidance below should provide you with more information on how to access our template library today and start benefitting from its advantages without needing to sign up for an account with Genie AI first!

Definitions (feel free to skip)

Legal Binding: When a legally binding document is used, it means that all parties involved are legally obligated to follow the terms and conditions set forth in the document.

Assignor: The assignor is the person who is transferring rights, interests or assets to someone else.

Assignee: The assignee is the person who is receiving the rights, interests or assets from the assignor.

Witness: A witness is an independent third-party who is present when a document is signed, in order to ensure that the process is completed in a secure and legally binding manner.

Stamp: A stamp is an official seal or mark that is used to verify and authenticate a document.

Tax: A tax is a sum of money that is paid to a government or public authority.

Duty: Duty is an obligation or responsibility assigned to someone.

Defining the Deed of Assignment

What is a deed of assignment and what is its purpose, parties involved, who needs to be involved in the making of a deed of assignment, drafting the deed, determine what kind of deed of assignment needs to be drafted, consider the subject matter to be assigned in the deed, research the legal requirements for the kind of deed to be drafted, draft the deed of assignment in accordance with the legal requirements, executing the deed, check that the parties to the deed are correctly identified, confirm that the deed is correctly signed and dated by all parties, confirm that the deed is witnessed by an independent third party, have the deed of assignment properly executed by all parties, registration, determine whether the deed of assignment needs to be registered, if registration is necessary, confirm the registration procedures, take necessary steps to register the deed of assignment, considerations, consider any applicable tax or stamp duty implications of the deed of assignment, consider any restrictions or limitations on the rights being assigned, consider whether the deed of assignment needs to be registered in any public records, common mistakes, not accurately identifying all of the parties to the deed, not having the deed properly executed by all parties, not having the deed witnessed by an independent third party, not considering any applicable tax or stamp duty implications, not considering any applicable restrictions or limitations on the rights being assigned, record keeping, ensure that the original deed of assignment is securely stored, create a digital copy of the deed and store it in a secure manner, review the deed of assignment to ensure accuracy, confirm that all steps have been completed correctly, seek advice from legal professionals if necessary, get started.

Establish the parties involved in the Deed of Assignment
Identify the property or service being assigned
Specify the terms of the assignment
Ensure the Deed of Assignment is properly witnessed
Check that all signatures are valid

When you have completed the steps above, you will have successfully defined the Deed of Assignment and can proceed to the next step.

A deed of assignment is a legal document that is used to transfer the rights and responsibilities of one party (the assignor) to another party (the assignee)
It is used to transfer contractual rights and obligations between parties
It should include information such as the names of the parties, the date of the assignment, and the description of the rights transferred
You will know that you have completed this step when you have an understanding of what a deed of assignment is and why it is used.
Identify the party transferring their rights (the assignor) and the party receiving the rights (the assignee)
Draft the deed in the name of both parties, including full names and contact details
Ensure the deed is signed by both the assignor and assignee
Once the deed is signed, the parties should exchange copies of the document

Once the assignor and assignee have been identified and the deed has been drafted and signed, you can check this step off your list and move on to the next step.

Identify the parties involved in the Deed of Assignment. This would typically include the assignor (the party transferring their rights or interest) and the assignee (the party receiving the rights or interest).
Ensure that all parties involved have the legal capacity to enter into a contract.
When all parties have been identified and their legal capacity has been verified, you can check this step off your list and move on to drafting the Deed.
Read the applicable laws in your jurisdiction to determine the required language and structure of the Deed of Assignment
Gather the necessary information on the parties, the asset being assigned, and other relevant details
Draft the Deed of Assignment, taking into account all the necessary details
Make sure the language is clear and unambiguous
Have the Deed of Assignment reviewed by a legal professional
When the Deed of Assignment has been drafted and reviewed, you can move on to the next step.
Identify the type of assignment that needs to be drafted and the legal requirements that need to be satisfied
Consider the purpose of the Deed and the rights and obligations of the parties to the Deed
Determine if the Deed is for an absolute or conditional assignment
Consider if the Deed should be an express or implied assignment
Determine if the Deed needs to be in writing or if it can be oral
Check the applicable laws in your jurisdiction to ensure that you are drafting a valid Deed
Check if there are any additional requirements that need to be included in the Deed

When you can check this off your list: Once you have identified the type of assignment and the relevant legal requirements, you can move on to considering the subject matter to be assigned in the Deed.

Identify the subject matter of the Deed of Assignment, such as a patent, trademark, copyright, or other intellectual property
Assess the value of the subject matter and any associated liabilities
Understand the relationship between the assignor and assignee
Have all necessary documents, such as a purchase agreement, to provide more detail about the assignment

Once you have identified the subject matter of the Deed of Assignment, assessed its value, understand the relationship between the assignor and assignee, and gathered any additional documents, you can move onto the next step of researching the legal requirements for the kind of Deed to be drafted.

Research the relevant legislation, case law, and other materials related to the Deed of Assignment to be drafted
Consult with a lawyer familiar with the relevant law to understand the requirements
Take detailed notes on the legal requirements that must be adhered to in the Deed of Assignment
Once you have all the necessary information, double-check that you understand the requirements before moving on to the next step.
Prepare the text of the Deed, ensuring that all relevant information regarding the parties, the subject matter, and the consideration is included
Check to make sure the language conforms with relevant laws and regulations
Have the Deed reviewed by a solicitor to ensure that it complies with all legal requirements
Once the Deed has been approved by a solicitor, have the parties sign the document
Once the Deed has been signed by both parties, make multiple copies and ensure each party has a copy
This step is complete once the Deed has been signed and each party has a copy of the document.
Ensure both parties sign the Deed of Assignment in the presence of two witnesses who are over the age of 18 and not parties to the Deed
Have both parties sign the deed in the presence of two witnesses and have the witnesses sign the deed to attest to witnessing the signature of the parties
Check that the parties have signed the Deed in the presence of the witnesses by noting the signatures and the dates of signature in the execution clause of the Deed
Once the Deed has been executed, have the parties date and keep a copy of the Deed in a secure place
You will know that you have completed this step when the Deed has been properly executed by the parties in the presence of two witnesses.
Identify all parties to the Deed and verify that their details are correct.
Ensure that all parties to the Deed are identified in the document and that the details of each party are accurate and up-to-date.
Check that the names, addresses and contact details of each party are correct.
Once you have verified that the parties and their details are correctly identified, you can move on to the next step.
Check that all parties have signed the Deed in the correct place, and that the date of signature is correct
Ensure that each party has signed the Deed in the presence of an independent witness
Check that all parties have signed the Deed with their full name and title, if applicable
Confirm that the date of signature is correct and that all parties have signed on the same date
Once you have verified that all parties have correctly signed and dated the Deed, you can proceed to the next step.
Ensure that the Deed is witnessed by an independent third party who is not a party to the Deed.
Ask the third party to sign the Deed and provide their name, address, occupation and date of signing.
Check that the third party has signed and dated the Deed.
Once the above is complete, you can check this step off your list and move on to the next step.
Obtain signatures from all parties on the deed of assignment, ensuring that each party signs in the presence of a witness
Have an independent third party witness each party’s signature
Ensure that all parties have a valid form of identification, such as a driver’s license or passport, available for inspection by the witness
Ensure that all parties sign the deed of assignment in the presence of the witness
Obtain the witness’ signature, confirming that all parties signed in the presence of the witness
You will know this step is completed once all parties have signed the deed of assignment and the witness has signed confirming they were present during the signing.
Obtain a copy of the executed Deed of Assignment from all parties
Contact the relevant state or territory office to determine whether the Deed of Assignment needs to be registered
If registration is required, complete the necessary forms, pay the registration fee, and submit the required documents
Once the Deed of Assignment is registered, the registrar will issue a certificate of registration
Check off this step when you have received and reviewed the certificate of registration.
Research the applicable laws and regulations in the relevant jurisdiction to decide if the Deed of Assignment needs to be registered
Consult a legal professional if unsure
When you have the answer, you can move on to the next step.
Confirm what type of Deed of Assignment requires registration with the relevant government agency or registry.
Research the registration procedures and the requirements you must meet in order to register the Deed of Assignment.
Obtain any fees or additional documents that are necessary to complete the registration process.
Ensure that all parties to the Deed of Assignment understand the registration process and the requirements for completing it.

You can check off this step once you have researched and confirmed the registration procedures for the Deed of Assignment.

Gather the necessary documents for registration, such as the Deed of Assignment, supporting documents, and the applicable fee
Visit the registration office to register the Deed of Assignment
Submit the necessary documents to the registration office
Pay the applicable fee
Obtain a copy of the registered Deed of Assignment
Upon completion of the above steps, you can check this off your list and move on to the next step.
Review and understand the nature of the rights and obligations being assigned
Determine if there are any restrictions or limitations in the assignment
Assess if any approvals are needed from third parties before the assignment is valid
Confirm that the assignor has the right to assign the interest being transferred
Check to see if the assignee has the necessary capacity to accept the assignment
Analyze if the assignment is subject to any applicable laws or regulations
Determine if any additional documentation is needed to support the assignment
Once you have considered all of the above, you can proceed with drafting the Deed of Assignment.
Check with your local taxation authority or a qualified tax professional to see if the Deed of Assignment is subject to any taxes or stamp duty.
Ensure that the Deed of Assignment includes any required taxes or stamp duty payments.
Check to see if the tax or stamp duty implications vary by jurisdiction.
Once you’ve considered the tax or stamp duty implications, you can move on to the next step.
Identify any restrictions or limitations that could affect the transfer of rights in the Deed of Assignment
Consider whether there are any legal restrictions that must be observed in the transfer of the rights being assigned
Research any relevant industry standards or regulations to ensure that the restrictions or limitations on the rights being assigned are compliant
Ensure that the Deed of Assignment clearly outlines the restrictions or limitations of the rights being assigned
When all restrictions or limitations on the rights being assigned are taken into consideration, checked for compliance and outlined in the Deed of Assignment, this step is complete.
Consider whether the Deed of Assignment needs to be registered with any government or public agencies.
Determine if any registration is required or optional.
Research the relevant regulations and laws to ensure that the assignments are properly recorded.
Check any local requirements or restrictions.
Once you have determined that the Deed of Assignment does or does not need to be registered, you can move on to the next step in the process.

• Read over the Deed of Assignment twice to make sure you’re accurately identifying all of the parties to the Deed. Make sure you include the full names and addresses of the assignor and assignee, as well as any other relevant parties. • Check that the legal description of the subject property is accurate. • Ensure that the consideration (the amount being exchanged for the assignment) is stated clearly and accurately. • Make sure that the names of the initial parties to the Deed are also included in the recitals. • Ensure that the recitals and the express terms of the Deed are consistent with one another. • Make sure that the Deed is signed, notarized, and delivered in accordance with state law.

Once you’ve completed the above steps, you can check off this task and move on to the next step in the guide.

Identify the assignor and assignee. The assignor is the party transferring their rights and the assignee is the party receiving the rights.
Check all of the details are correct. This includes the names, addresses and other contact information for both parties.
Draft the deed to ensure that the assignor and assignee are accurately identified.
You can check this off your list and move on to the next step once you have confirmed that the assignor and assignee have been accurately identified in the deed.
Ensure that all parties to the Deed have read, understood and agreed to the terms and conditions of the agreement.
Have all parties affix their signature to the Deed and the accompanying documents.
Check that all the signatures are dated and in the presence of a witness.
When all parties have properly executed the Deed, you can move on to the next step.
Ensure all parties have signed the Deed in the presence of a witness.
The witness must be an independent third party who is not a party to the Deed.
The witness must sign each page of the Deed that contains a party’s signature.
The witness must also include their full name, address and occupation on the Deed.
Once all of the above requirements are met, then you can check this off your list and move on to the next step.
Determine the applicable taxes or stamp duty implications for the Deed of Assignment.
Research any applicable taxes or stamp duty fees for the Deed of Assignment.
Calculate the applicable taxes or stamp duty fees for the Deed of Assignment.
Make sure to include the applicable taxes or stamp duty fees in the Deed of Assignment.

Once you have determined the applicable taxes or stamp duty implications for the Deed of Assignment, and included them in the Deed of Assignment, you can move on to the next step.

Determine the rights that you are assigning and review any applicable laws or regulations to ensure that the assignment of such rights is permitted.
Consider any applicable contractual restrictions or limitations on the rights being assigned, such as any applicable confidentiality obligations or restrictions on the transfer of rights.
Once you have determined that the assignment of the rights is permitted and there are no applicable restrictions or limitations, you can proceed to the next step of recording keeping.
Create a record of the Deed of Assignment, including the date it was executed, by each party
Maintain a copy of the Deed of Assignment in a secure place
Record any additional related documents, such as any security documents, release documents, or other agreements
When all of the above have been done, you can check this off your list and move on to the next step.
Obtain a physical copy of the original Deed of Assignment
Ensure the original Deed is signed by both parties
Keep the original Deed in a safe and secure place, such as a locked filing cabinet or safe
Make sure the document is stored in a location that is accessible to both parties
Ensure that the original Deed is not destroyed or tampered with in any way

You can check this off your list and move on to the next step once the original Deed of Assignment is safely stored in a secure location.

Scan or take a digital photo of the original Deed of Assignment and save it to a secure location.
Ensure that the digital copy is readable and clearly displays all of the information contained in the original document.
Ensure that the digital copy is stored in a secure location, preferably on a cloud-based storage system or other secure server.
Make sure that only authorized personnel have access to the digital copy of the Deed.
When finished, you will have created a digital copy of the Deed and stored it in a secure manner.
Read over the Deed of Assignment to ensure accuracy
Make sure all details are correct, and all parties are named
Verify that all signatures are complete and accurate
Make sure the date of the assignment is correct
Check that the document is formatted and laid out correctly
Once you are satisfied with the accuracy of the Deed of Assignment, you can move on to the next step.
Read through the entire document to make sure all the information is correct
Double check that the names and details of the parties involved are spelled correctly
Ensure that all the dates are accurate, and that any and all parties have signed the deed in the right places
Check that the terms and conditions in the deed are consistent with the agreement between the parties
When you have verified all the details, you can check this off your list and move on to the next step.
Check the Deed of Assignment to ensure that all required elements are present, including accurate information and signatures of all parties.
Verify that any and all attachments to the Deed of Assignment are included and accurate.
Ensure that all dates, signatures, and other pieces of information are accurate and up-to-date.
Once you’ve confirmed that all of the steps have been completed correctly, you can move on to the next step.
Seek professional advice from a lawyer or other legal professional to ensure that the deed of assignment is legally binding and enforceable.
Request that the legal professional checks that all steps have been completed correctly, and that the deed of assignment meets all requirements under local law.
Ask the legal professional to provide you with written advice on any changes or revisions that may be necessary to make the deed of assignment valid and enforceable.
Once the legal professional has confirmed that the deed is legally sound, you can check off this step and proceed with the next one.
Research legal professionals who are able to provide advice and assistance with the drafting of a deed of assignment
Contact the legal professionals to discuss the specific requirements and details of the deed of assignment
Ask the legal professionals if they are able to provide advice and assistance with the deed of assignment
Receive advice from the legal professionals and make changes to the deed of assignment accordingly
Once you are satisfied with the changes to the deed of assignment, you can move on to the next step.

Q: Does a Deed of Assignment need to be signed?

Asked by John on April 23rd 2022. A: Yes, a Deed of Assignment needs to be signed by both the assignor and the assignee in order for it to be legally binding. The signatures should be witnessed and dated, and should be in front of an independent witness who is not related to either party. It is also important to include the relevant clauses and provisions in the deed, as these will set out the rights and obligations of each party.

Q: What is the difference between an assignment and a novation?

Asked by Sarah on July 29th 2022. A: An assignment is a transfer of rights or obligations from one party to another, while a novation is a transfer of rights or obligations from one party to another with the consent of all parties involved. An assignment does not necessarily require the consent of all parties, while a novation always requires the consent of all parties. Additionally, an assignment can transfer rights or obligations without necessarily extinguishing any pre-existing agreements, while a novation extinguishes any pre-existing agreements.

Q: Is a Deed of Assignment legally binding in different jurisdictions?

Asked by Tyler on October 17th 2022. A: Yes, a Deed of Assignment can be legally binding in different jurisdictions, though the exact requirements for validity may differ from jurisdiction to jurisdiction. In general, however, a Deed of Assignment needs to be signed by both parties and witnessed by an independent third party in order for it to be legally binding. Additionally, the deed should include all relevant clauses and provisions that are applicable in each jurisdiction.

Q: Are there any tax implications when drafting a Deed of Assignment?

Asked by Emma on January 15th 2022. A: Yes, there are tax implications that need to be taken into account when drafting a Deed of Assignment. Depending on the jurisdiction and specific tax laws, there may be tax implications for both parties if they are transferring rights or obligations under the deed. It is important to seek professional tax advice before entering into any agreement that involves transferring rights or obligations between parties as this could have significant financial implications for all involved.

Q: Do I need legal advice when drafting a Deed of Assignment?

Asked by Jacob on June 5th 2022. A: While it is not necessary to seek legal advice when drafting a Deed of Assignment, it is generally recommended in order to ensure that all relevant legal requirements are satisfied and that all involved parties are aware of their rights and obligations under the deed. It is also important to make sure that all language used in the deed is clear and unambiguous so that it can easily be understood by all parties involved.

Q: How can I ensure that my Deed of Assignment is valid?

Asked by Michael on August 28th 2022. A: In order for your Deed of Assignment to be valid, it must meet certain legal requirements which vary between jurisdictions. Generally speaking, your deed should include all relevant clauses and provisions applicable in your jurisdiction as well as signatures from both parties which should be witnessed by an independent third party who is not related to either party involved. Additionally, any language used within the document should be clear and unambiguous so that it can easily be understood by all involved parties.

Q: What information do I need to provide when drafting a Deed of Assignment?

Asked by Ashley on November 10th 2022. A: When drafting a Deed of Assignment, you will need to provide information about both parties involved such as their names, addresses, contact details and any other relevant information required under applicable laws in your jurisdiction. Additionally, you will need to include any relevant clauses or provisions applicable in your jurisdiction which will set out the rights and obligations of each party under the deed as well as any other information required for the document to be legally binding.

Q: What are common mistakes made when drafting a Deed of Assignment?

Asked by Joshua on February 20th 2022. A: One common mistake made when drafting a Deed of Assignment is failing to include all relevant clauses or provisions applicable in your jurisdiction which set out the rights and obligations of each party involved in the agreement. Additionally, failing to have the document signed by both parties or witnessed by an independent third party can render the document invalid or unenforceable under applicable law in some jurisdictions. Moreover, using ambiguous language within the document can also lead to misunderstandings and disputes further down the line which could be avoided if clear language was used throughout the document instead.

Example dispute

Lawsuit referencing a deed of assignment.

The plaintiff may raise a lawsuit if they have been wronged by the defendant in a way that is outlined in the deed of assignment.
For example, the deed of assignment may outline that the defendant is responsible for paying a certain amount of money to the plaintiff, and the defendant has failed to do so.
The plaintiff may also raise a lawsuit if the defendant has failed to adhere to any other obligations laid out in the deed of assignment.
The plaintiff would need to prove that the defendant has breached the deed of assignment in order to win the lawsuit.
If successful, the plaintiff may be able to obtain a judgment in their favor, which may require the defendant to pay the plaintiff the money they are owed.
In addition, the plaintiff may be able to seek other damages, such as punitive damages, if the breach of the deed of assignment was particularly egregious.
Depending on the severity of the breach, the plaintiff may also be able to seek an injunction to prevent the defendant from continuing to breach the deed of assignment.
Settlement of the dispute may also be possible, wherein the defendant agrees to pay a certain amount of money to the plaintiff, or agrees to adhere to the obligations laid out in the deed of assignment.

Templates available (free to use)

Deed Of Assignment For Rent Deposits Occupation Lease Deed Of Assignment Of Benefit Of Claim For The Freehold Or Extended Lease House Under Section 8 Or Section 14 Deed Of Assignment Of Equitable Interest In Residential Land Deed Of Assignment Of Goodwill And Intellectual Property Rights Transfer Of A General Partnership To An Llp Deed Of Assignment Of Property Sale Benefits [Section 42 Deed Of A

Helpful? Not as helpful as you were hoping? Message me on Linkedin

Links to get you started

‍ Our AI Legal Assistant (free while in beta) Contract Template Library Legal Clause Library

Try the world's most advanced AI Legal Assistant, today

Assignments
Dissertations
Research Proposal
Report Writing
Literature Review
CDR Writing
Resume Writing
Engineering
IT & Computer Science
Value Added Services
Plagiarism Check
Proofreading & Editing
Expert Consultation
Live Session 1-On-1
Quality Check
By University
By Subject Codes
Reviews 4.5/5
Help & Support
Certified Experts
Our Policies
Ask your Question
Request Callback
Get $50 Off
Get 500 Words Free
Premium Membership

Quick Searches

Samples/Resources - e.g. Management Assignment Resources
Services - e.g. MATLAB Assignment Help
Questions - e.g. Management Assignment Questions
Support : FAQs , Policies, Ordering Support

What is a Deed of Assignment?

Author : Administrator

Assignment Help

Table of Content

Who Signs the Deed of Assignment?

What is the difference between transfer and assignment, conclusion: what is a deed of assignment, and how is it useful in real life.

Did you just Google what is a deed of assignment is? Fresher law students and students pursuing a program that has no connection to any legal jargon might mistake it for an action that one deliberately performs to achieve nirvana. Yes, it is 'indeed' an action performed intentionally by a person but made legal. To be precise, it is a document of transferring property ownership. Read forth to learn more about it.

A deed is a signed legal document containing all the legal statutes, laws, and agreement clauses for transferring a property or financial assets from previous owners to a new one. Such a document is required to transfer property, tenancies, mortgages, wills, power of attorney, and a partnership agreement.

Did you know that Australia's different states and territories have distinct legislation that entails specific requirements? To execute a deed in Australia, you need to heed the state laws.

For example, suppose a person is selling their property. In that case, the new buyers and the previous owners will sign a deed that contains a detailed list of assets, liabilities and legal monetary exchange. Both parties sign a deed agreeing to the clauses of ownership transfer, and the previous owner holds no.

things to keep in mind while drafting a sale deed

Let's move on to the processes in such an agreement process. The deed has to be executed before the concerned parties can sign it; it is a legal process under which both parties discuss and agree/disagree to the clauses and conditions in the agreement and formally accept the final document. When a party formally accepts a document, they have bound the terms of the document.

A deed is considered a valid legal document only when registered under the local court law; the deed has to be notarized and delivered to the new owner. The process of signing a deed is the most important, and both parties have to be present while signing, or a pre-informed stand-in can be there.

There are over 10.6 million residences in Australia, total cost estimated at 1.8 trillion Australian dollars. - Australian Bureau of Statistics

In most cases, the original/previous owner signs the deed to transfer ownership. But in a partnership agreement or a mortgage transfer, both parties must sign the deed of agreement. A physical handwritten signature is required, and an e-generated signature is not valid.

Often, a nominee witnesses the exchange of signatures as part of the legal formalities. Generally, the nominees are not required to sign the deed, but it majorly depends on the legal requirement of the state/country. The nominee signing the document must not be related to either of the parties. A family member, an employee or the representative attorney cannot sign the deed.

Lastly, a real-estate deed takes effect when the deed is delivered to the new owner a physical or a constructive delivery, i.e. handing over the house keys or assets. Constructive delivery is not official or legal transfer, but concerned parties often do it by mutual agreement.

Learn how to acknowledge any source of information using the APA 7th style .

Delivering a deed through electronic mediums is also a feasible option, but both parties must hand over a physical copy of the signed document to the coordinator. The legal coordinator monitors the exchange and helps in legal registration and notarisation.

Still, reading the blog? Glad you made it this far. Those seeking assignment help online can register at My Assignment Services and avail our best offers. It's quick and easy; enrol today!

In the previous two sections, we discussed 'what is a deed of assignment?' and the process of signing, executing and delivering a deed. But, let me elaborate on the differences between transferring and assignment of the deed. Both these might be synonyms, yet in legal terminology, assignment means a complete transfer of property or asset ownership from one person to another. In contrast, transfer means appointing an asset or property to another person to control while the ownership belongs to the original owner.

A deed of agreement is the modernized version of a charter, which helps ownership and transfer rights used in ancient Europe.

A deed of assignment and a memorandum of transfer are two distinct documents for respective purposes. Land ownership can be assigned to a new owner through a deed, and a transfer of assets is done through signing a memorandum of transfer. Meanwhile, a licence is a legal document that doesn't permit infringement; the legal governing bodies decide if the assignment can be revoked or if a transfer is possible.

For example, a business or an insurance policy is transferred to a person when the original owner is unavailable to fulfil their duties due to ailment or sudden demise. The original owner assigns the business assets, or insurance policy returns to a new owner through their will (often after the demise) or legal transfer.

Legal transfers and assignments are among the most common and extensively exchanged legal transactions. People buy/sell properties every day, and businesses seeking to expand sign legal partnership agreements frequently. It is a very basic yet detailed legal document that many students learn about at high school and later develop their knowledge through university academia.

The most common legal implication of a deed you will ever witness is the legal battle for a property that occurs generally. Many of you must've witnessed it, or one might be currently in action within your extended family. When the property owner passes away without defining a will, then the next generation successors of a business or the potential owners of the property can challenge each other in court.

A deed of partnership is a legal agreement between two business partners when establishing a legal business partnership. It states the shared assets and liabilities, profit/loss ratio and the revenue shares to be distributed among both partners. A business deed of agreement is often signed by two collaborating businesses or when a bigger organization takes over a smaller business.

The exchange process dates back to 6000 BC in the Mesopotamian tribes, known as the barter system.

Lastly, the transfer of insurance policy also requires a deed of agreement; it is signed by the assignor (original policyholder) who wants to share the profits of an insurance policy with an assignee (family member or the new policyholder). Such agreements occur due to the sudden demise of the assignor or some specific conditions.

There are other implications of a deed of agreement, and often it is an oral agreement between two parties that they can legalize in the future. The exchange of assets has been in practice since the barter currency system. The ancient humans had fewer resources, so the chances of getting your money swindled were less, but technological advancement has resulted in various ways of getting conned. A legal document is required to legalize an agreement of assignment under the state court and secure both parties' legal rights.

Click on our other blogs to get knowledge of various topics from different academic fields and expand your knowledge. Get assignment help online from our 2000+ academic experts that assist you in research, drafting, writing and proofreading your assignments. Enrol today to get in touch with our experts.

Related Study Materials

Enterprise Information Systems
ACF320 Mad Max: Fury Road Review Analysis Assignment Sample
LML6004 Migration Rules Assignment Sample
CIV4ID Pavement Design Analysis Assignment Sample
HI6006 Understanding Business Strategy Assignment Sample
HEA515 Radio Frequency Identification System Assignment Sample
HI5017 Tik Tok Company Analysis Assignment Sample
Aquatic Physical Habitat Assessment Assignment Sample
MGMT1011 Assessing Generosity and Gender Equality Assignment Sample
Mountain Tourism and Snow Management Assignment Sample

Our Experts can answer your Assignment questions instantly.

Loved reading this Blog? Share your valuable thoughts in the comment section.

About the Author

Administrator

I am assignment writing expert and have been associated with My Assignment Services since last five years. I believe that students should get professional help with their assignments so that they can manage both their education and co-curriculum activities simultaneously. Contact me through My Assignment Services for Assignment Assistance.

What is Market Segmentation?

What is fund management, related posts.

How to Check AI Written Assignment?

January 24, 2024.

How to Write Psychology Research Reports and Assignments?

December 19, 2023.

Core Components of a Successful Assignment

December 07, 2023, get it done today.

Australia (+61)
Canada (+1)
Europe (+3)
Germany (+49)
Hong kong (+8)
India (+91)
Ireland (+353)
Jordan (+962)
Kenya (+254)
Malaysia (+60)
New zealand (+64)
Nigeria (+234)
Pakistan (+92)
Saudi arabia (+966)
Singapore (+65)
South africa (+27)
Sweden (+46)
United arab emirates (+971)
United kingdom (+44)
United states america (+1)

1,212,718 Orders

4.9/5 Rating

5,063 Experts

Get 500 Words Free on your assignment today

Trending now

How to Write a Reflection Paragraph in an Assignment?

Project management assignment sample online, project proposal assignment sample online, how to solve cubic equation ax^3+ bx^2+ cx+d = 0, impact of western systems and structures on aboriginal and torres strait islander cultures, how to write an executive summary (see our sample), best digital marketing assignment sample online, marketing assignment sample online, how to write gibbs reflective cycle, why are ethics important in research, business management assignment sample online, taelln411: address adult language, literacy and numeracy skills assessment answer.

The Student Corner

Subscribe to get updates, offers and assignment tips right in your inbox.

Download Guide Book

Australia(+61)
Germany(+49)
Hong kong(+8)
Ireland(+353)
Jordan(+962)
Kenya(+254)
Malaysia(+60)
New zealand(+64)
Nigeria(+234)
Pakistan(+92)
Saudi arabia(+966)
Singapore(+65)
South africa(+27)
Sweden(+46)
United arab emirates(+971)
United kingdom(+44)
United states america(+1)

Searching across 1 Million Resources...

Doing your Assignment with our resources is simple, take Expert assistance to ensure HD Grades. Here you Go....

Today's Special Get Upto 50% OFF *

Select Coupon

Cambridge Dictionary +Plus

Meaning of deed of assignment in English

Your browser doesn't support HTML5 audio

Examples of deed of assignment

Word of the Day

relating to the scientific study of animals, especially their structure

Dead ringers and peas in pods (Talking about similarities, Part 2)

Learn more with +Plus

Recent and Recommended {{#preferredDictionaries}} {{name}} {{/preferredDictionaries}}
Definitions Clear explanations of natural written and spoken English English Learner’s Dictionary Essential British English Essential American English
Grammar and thesaurus Usage explanations of natural written and spoken English Grammar Thesaurus
Pronunciation British and American pronunciations with audio English Pronunciation
English–Chinese (Simplified) Chinese (Simplified)–English
English–Chinese (Traditional) Chinese (Traditional)–English
English–Dutch Dutch–English
English–French French–English
English–German German–English
English–Indonesian Indonesian–English
English–Italian Italian–English
English–Japanese Japanese–English
English–Norwegian Norwegian–English
English–Polish Polish–English
English–Portuguese Portuguese–English
English–Spanish Spanish–English
English–Swedish Swedish–English
Dictionary +Plus Word Lists
Business Noun
All translations

Add deed of assignment to one of your lists below, or create a new one.

Something went wrong.

There was a problem sending your report.

Bankruptcy Basics
Chapter 11 Bankruptcy
Chapter 13 Bankruptcy
Chapter 7 Bankruptcy
Debt Collectors and Consumer Rights
Divorce and Bankruptcy
Going to Court
Property & Exemptions
Student Loans
Taxes and Bankruptcy
Wage Garnishment

Understanding the Assignment of Mortgages: What You Need To Know

3 minute read • Upsolve is a nonprofit that helps you get out of debt with education and free debt relief tools, like our bankruptcy filing tool. Think TurboTax for bankruptcy. Get free education, customer support, and community. Featured in Forbes 4x and funded by institutions like Harvard University so we'll never ask you for a credit card. Explore our free tool

A mortgage is a legally binding agreement between a home buyer and a lender that dictates a borrower's ability to pay off a loan. Every mortgage has an interest rate, a term length, and specific fees attached to it.

Written by Attorney Todd Carney . Updated November 26, 2021

If you’re like most people who want to purchase a home, you’ll start by going to a bank or other lender to get a mortgage loan. Though you can choose your lender, after the mortgage loan is processed, your mortgage may be transferred to a different mortgage servicer . A transfer is also called an assignment of the mortgage.

No matter what it’s called, this change of hands may also change who you’re supposed to make your house payments to and how the foreclosure process works if you default on your loan. That’s why if you’re a homeowner, it’s important to know how this process works. This article will provide an in-depth look at what an assignment of a mortgage entails and what impact it can have on homeownership.

Assignment of Mortgage – The Basics

When your original lender transfers your mortgage account and their interests in it to a new lender, that’s called an assignment of mortgage. To do this, your lender must use an assignment of mortgage document. This document ensures the loan is legally transferred to the new owner. It’s common for mortgage lenders to sell the mortgages to other lenders. Most lenders assign the mortgages they originate to other lenders or mortgage buyers.

Home Loan Documents

When you get a loan for a home or real estate, there will usually be two mortgage documents. The first is a mortgage or, less commonly, a deed of trust . The other is a promissory note. The mortgage or deed of trust will state that the mortgaged property provides the security interest for the loan. This basically means that your home is serving as collateral for the loan. It also gives the loan servicer the right to foreclose if you don’t make your monthly payments. The promissory note provides proof of the debt and your promise to pay it.

When a lender assigns your mortgage, your interests as the mortgagor are given to another mortgagee or servicer. Mortgages and deeds of trust are usually recorded in the county recorder’s office. This office also keeps a record of any transfers. When a mortgage is transferred so is the promissory note. The note will be endorsed or signed over to the loan’s new owner. In some situations, a note will be endorsed in blank, which turns it into a bearer instrument. This means whoever holds the note is the presumed owner.

Using MERS To Track Transfers

Banks have collectively established the Mortgage Electronic Registration System , Inc. (MERS), which keeps track of who owns which loans. With MERS, lenders are no longer required to do a separate assignment every time a loan is transferred. That’s because MERS keeps track of the transfers. It’s crucial for MERS to maintain a record of assignments and endorsements because these land records can tell who actually owns the debt and has a legal right to start the foreclosure process.

Upsolve Member Experiences

Assignment of Mortgage Requirements and Effects

The assignment of mortgage needs to include the following:

The original information regarding the mortgage. Alternatively, it can include the county recorder office’s identification numbers.

The borrower’s name.

The mortgage loan’s original amount.

The date of the mortgage and when it was recorded.

Usually, there will also need to be a legal description of the real property the mortgage secures, but this is determined by state law and differs by state.

Notice Requirements

The original lender doesn’t need to provide notice to or get permission from the homeowner prior to assigning the mortgage. But the new lender (sometimes called the assignee) has to send the homeowner some form of notice of the loan assignment. The document will typically provide a disclaimer about who the new lender is, the lender’s contact information, and information about how to make your mortgage payment. You should make sure you have this information so you can avoid foreclosure.

Mortgage Terms

When an assignment occurs your loan is transferred, but the initial terms of your mortgage will stay the same. This means you’ll have the same interest rate, overall loan amount, monthly payment, and payment due date. If there are changes or adjustments to the escrow account, the new lender must do them under the terms of the original escrow agreement. The new lender can make some changes if you request them and the lender approves. For example, you may request your new lender to provide more payment methods.

Taxes and Insurance

If you have an escrow account and your mortgage is transferred, you may be worried about making sure your property taxes and homeowners insurance get paid. Though you can always verify the information, the original loan servicer is responsible for giving your local tax authority the new loan servicer’s address for tax billing purposes. The original lender is required to do this after the assignment is recorded. The servicer will also reach out to your property insurance company for this reason.

If you’ve received notice that your mortgage loan has been assigned, it’s a good idea to reach out to your loan servicer and verify this information. Verifying that all your mortgage information is correct, that you know who to contact if you have questions about your mortgage, and that you know how to make payments to the new servicer will help you avoid being scammed or making payments incorrectly.

Let's Summarize…

In a mortgage assignment, your original lender or servicer transfers your mortgage account to another loan servicer. When this occurs, the original mortgagee or lender’s interests go to the next lender. Even if your mortgage gets transferred or assigned, your mortgage’s terms should remain the same. Your interest rate, loan amount, monthly payment, and payment schedule shouldn’t change.

Your original lender isn’t required to notify you or get your permission prior to assigning your mortgage. But you should receive correspondence from the new lender after the assignment. It’s important to verify any change in assignment with your original loan servicer before you make your next mortgage payment, so you don’t fall victim to a scam.

Attorney Todd Carney

Attorney Todd Carney is a writer and graduate of Harvard Law School. While in law school, Todd worked in a clinic that helped pro-bono clients file for bankruptcy. Todd also studied several aspects of how the law impacts consumers. Todd has written over 40 articles for sites such... read more about Attorney Todd Carney

Continue reading and learning!

It's easy to get debt help

Choose one of the options below to get assistance with your debt:

Considering Bankruptcy?

Our free tool has helped 13,584+ families file bankruptcy on their own. We're funded by Harvard University and will never ask you for a credit card or payment.

Private Attorney

Get a free evaluation from an independent law firm.

Learning Center

Research and understand your options with our articles and guides.

Already an Upsolve user?

Bankruptcy Basics ➜

What Is Bankruptcy?
Every Type of Bankruptcy Explained
How To File Bankruptcy for Free: A 10-Step Guide
Can I File for Bankruptcy Online?

Chapter 7 Bankruptcy ➜

What Are the Pros and Cons of Filing Chapter 7 Bankruptcy?
What Is Chapter 7 Bankruptcy & When Should I File?
Chapter 7 Means Test Calculator

Wage Garnishment ➜

How To Stop Wage Garnishment Immediately

Property & Exemptions ➜

What Are Bankruptcy Exemptions?
Chapter 7 Bankruptcy: What Can You Keep?
Yes! You Can Get a Mortgage After Bankruptcy
How Long After Filing Bankruptcy Can I Buy a House?
Can I Keep My Car If I File Chapter 7 Bankruptcy?
Can I Buy a Car After Bankruptcy?
Should I File for Bankruptcy for Credit Card Debt?
How Much Debt Do I Need To File for Chapter 7 Bankruptcy?
Can I Get Rid of my Medical Bills in Bankruptcy?

Student Loans ➜

Can You File Bankruptcy on Student Loans?
Can I Discharge Private Student Loans in Bankruptcy?
Navigating Financial Aid During and After Bankruptcy: A Step-by-Step Guide
Filing Bankruptcy to Deal With Your Student Loan Debt? Here Are 3 Things You Should Know!

Debt Collectors and Consumer Rights ➜

3 Steps To Take if a Debt Collector Sues You
How To Deal With Debt Collectors (When You Can’t Pay)

Taxes and Bankruptcy ➜

What Happens to My IRS Tax Debt if I File Bankruptcy?
What Happens to Your Tax Refund in Bankruptcy

Chapter 13 Bankruptcy ➜

Chapter 7 vs. Chapter 13 Bankruptcy: What’s the Difference?
Why is Chapter 13 Probably A Bad Idea?
How To File Chapter 13 Bankruptcy: A Step-by-Step Guide
What Happens When a Chapter 13 Case Is Dismissed?

Going to Court ➜

Do You Have to Go To Court to File Bankruptcy?
Telephonic Hearings in Bankruptcy Court

Divorce and Bankruptcy ➜

How to File Bankruptcy After a Divorce
Chapter 13 and Divorce

Chapter 11 Bankruptcy ➜

Chapter 7 vs. Chapter 11 Bankruptcy
Reorganizing Your Debt? Chapter 11 or Chapter 13 Bankruptcy Can Help!

State Guides ➜

Connecticut
District Of Columbia
Massachusetts
Mississippi
New Hampshire
North Carolina
North Dakota
Pennsylvania
Rhode Island
South Carolina
South Dakota
West Virginia

Upsolve is a 501(c)(3) nonprofit that started in 2016. Our mission is to help low-income families resolve their debt and fix their credit using free software tools. Our team includes debt experts and engineers who care deeply about making the financial system accessible to everyone. We have world-class funders that include the U.S. government, former Google CEO Eric Schmidt, and leading foundations.

To learn more, read why we started Upsolve in 2016, our reviews from past users, and our press coverage from places like the New York Times and Wall Street Journal.

Practical Law

Deed of assignment

Deed of Assignment | Assignor | Assignee

Assign your property to another with a "deed of assignment".

Transfer your property to another person

Last updated on 16 November 2023

1. What is a Deed of Assignment?

A Deed of Assignment is a contract where the owner (the “assignor”) transfers ownership over property to another person (the “assignee”) by way of 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 ownership (and the rights and obligations) over property to another person.

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).
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.

Click here to get this document

9 Eymard Drive, New Manila Quezon City Owned and operated by JCArteche’s Online Documentation & Referral Services

Terms of Service
Privacy Policy
Create Documents
Ask An Attorney
How It Works
Customer Support

Deed of Assignment and its Importance in Land Transactions

Buying a property or piece of land should be a great moment of joy. But that great moment of joy can get turned on its head, to be followed by sorrow and regret. This can easily happen without proper due diligence. A lot of Nigerians have fell victim due to laxity in due diligence when transacting real estate.

When a property or piece of land is purchased or transferred from one owner to another, there are some important documents the new owner must obtain from the individual transferring the land. One of these documents is referred to as a Deed of Assignment and it is the most important legal document you need to get for your land. It is akin to getting a receipt from a retailer after purchasing a valuable item.

What is a Deed of Assignment?

By definition, a Deed of Assignment is simply a contract or an agreement between the seller of a piece of land and the buyer showing details and evidence that all title, rights, and interest of ownership of the land has been transferred to the buyer.

In legal terms, a Deed of Assignment is an agreement where an assignor declares a promise that from the assignment date or any date stated within the contract, the assignor allocates the entirety of its stake in that land or property to the assignee.

By these definitions, it is easy to understand why a Deed of Assignment has such importance in real estate transactions. It is considered a must for all transactions of transfer of ownership of land.

In Nigeria, it is believed that 6 out of 10 people have been victims to property fraudsters that pretend to be owners of a piece of land. They proceed to show off the land to numerous prospective buyers who would often accept a receipt as a proof of transfer of ownership.

So, in plain terms, a Deed of Assignment can be likened to the legal equivalent of a receipt for goods purchased at a store or the particulars of a newly bought vehicle. With the Deed of Assignment document, the bearer has all legal rights to the transferred property and can use it as he or she deem fit.

For a Deed of Assignment to be legally binding, it needs to clearly identify the seller and the buyer, and it must also contain the following information:

- Date of transfer of ownership

- Addresses of the seller and buyer and how they are binding to the successors, friends and other people who represent the seller and buyer in any capacity

- Price of purchase of property

- Detailed description of property, including the size of the property

- A history of transfer of ownership of property, from the date it was first acquired to the time it is to be sold to the new owner

- Covenants or promises that the buyer and seller will undertake in order to execute the deed

- A section for the Commissioner of Oaths or Governors Consent to authenticate and sign the agreement

- Signature of the seller and buyer

As a legally binding document in real estate transactions, a Deed of Assignment is often recorded in the local land registry as a proof of transfer of the property to the new owner. The format of a Deed of Assignment is made up of a cover page that show the identities of the buyer and seller as well as a description of the land; a second page that show the date of the transfer, names and location of buyer and seller, and a history of how the seller came into possession of the land; a third page that show the description and cost of the land, a survey plan number including the date and name of surveyor, and the promises that both buyer and seller would abide after the transaction is completed; and a last page that display signatures of the buyer and seller as well as signatures of witnesses to the transaction.

Because most property buyers are not familiar with the documents that are required to be prepared and transferred to them by land sellers, it is advisable for property buyers to always get the services of a lawyer in order to protect their interest during the course of property transactions.

What is a Deed of Assignment in New Zealand?

By Emma Lindblom

Updated on January 28, 2021 Reading time: 5 minutes

This article meets our strict editorial principles. Our lawyers, experienced writers and legally trained editorial team put every effort into ensuring the information published on our website is accurate. We encourage you to seek independent legal advice. Learn more .

What is Assignment?

What is in a deed of assignment, when you would use a deed of assignment, key takeaways.

As contracts age, you may come to a point where you want to transfer your rights and benefits under a contract to another person. There are a couple of ways you can do this, one of which being through an assignment. Sometimes, your original contract will have an assignment clause detailing how you should go through the assignment process. However, not every contract has such a clause, so you can use a deed of assignment to transfer the original contract to another person. A deed of assignment is an important document you can use in a variety of situations. This article will help you understand:

how assignment works;
what is beneficial to put in your deed of assignment; and
some possible situations where you would use this legal document.

Assignments are a common way of transferring contracts in the commercial world. In an assignment, you, the assignor, assign the benefits and rights of the contract you hold to an assignee, a third party to your original contract. The assignee will then continue to perform the contract, and receive the benefits from doing so.

However, an assignment does not transfer your original obligations to the person you formed the contract with. You still have to perform your side of the contract.

For example, if you assign your lease to a new tenant, you still have to pay any rent you have owing. In most cases, assigning a contract does not need the consent of all parties. However, some contracts have an express clause prohibiting assignment, so it is important to check the terms of your contract.

You will want to make sure you properly draft your deed of assignment to make sure you do not leave any avenues open for legal consequences later on. Your deed will vary depending on your situation, but generally, you will want to include:

who the assignor is;
who the assignee is;
the signatures of both parties;
witness signatures, if the situation requires;
contact details of both parties;
the nature of the contract or legal device you are assigning;
what benefits and rights you are assigning;
any payments that need to be made; and
how those benefits manifest – whether that be through financial means, or service performed.

If you are unsure about what your deed needs to cover, it is a good idea to obtain legal advice.

Transferral of Creditor Rights

You can use a deed of assignment to transfer the right to be paid a debt. This means that you would transfer the benefit of that debt payment to someone else, while the original party you contracted with still performs their end of paying back the debt.

Transferring Ownership of a Trade Mark

You may be in the situation where you are transferring the copyright of a trademark to someone else’s name.

For example, if you are a graphic designer, you would design the logo, and assign the copyright of the trademark or logo you created to someone else. This would require a signed deed of assignment as the legal document proving the transfer of ownership.

Selling a Business

In the process of selling your business , you may use a deed of assignment to transfer any pre-existing commercial contracts you have with customers to whoever is buying your business . This means that the new owner can still maintain those customer relationships without having to enter into an entirely new contract.

Assignment of Lease

Deeds of assignment are often used in real estate transactions. If you are a tenant, you may wish to assign your lease to new tenants and move off of the property. You would use a deed of assignment to transfer your rights under the lease to the new tenant.

However, there are some additional requirements that you need to consider in this process. Usually, you need the permission of your landlord, and you need to make sure that the new tenant is respectable, responsible and able to fulfil any financial obligations that may arise under the lease in the future.

Making an EQC Claim

If you are buying or selling a house, and there is an already existing claim by the Earthquake Commission (EQC) investigating potential natural disaster damage on the house, transferring that claim is a part of the purchase process. You can transfer (or have transferred to you) the rights to the benefit of that claim using a deed of assignment. The deed will need to include all information about the claim, such as reference numbers and insurance information

Assignment is the process where you, the assignor, transfer the rights and benefits under a contract to a new person, the assignee. You need to formalise this process in writing in some way, and you can use a deed of assignment to fulfil this requirement. There are a variety of situations you can use a deed of assignment in, so it is important to tailor your deed to the specifics of your case. If you want more information or help with drafting your deed of assignment, contact LegalVision’s business lawyers on 0800 005 570 or fill out the form on this page.

An assignment is when you (the Assignor) transfer your rights from a contract to someone else (the Assignee). But, you still have to fulfil any outstanding obligations you have under the contract.

A deed of assignment is the contract outlining the assignment process. This is a written record of the transfer of rights that happens in an assignment and is signed by both the Assignor and the Assignee.

In a deed of assignment, you need to outline what exactly is being assigned to the third party. Both parties need to sign the document, and also the signatures of witnesses to the document.

You can use a deed of assignment in a variety of situations. Often, you would use it as a proof of transfer of ownership of legal property. This can apply to intellectual property, such as trademarks, or real estate property, such as the lease on commercial premises of your business.

We appreciate your feedback – your submission has been successfully received.

Register for our free webinars

Tips for navigating a business dispute, contact us now.

Fill out the form and we will contact you within one business day

5 Tips When Purchasing a Business in New Zealand

5 Tips for Selling Your Business in New Zealand

How Do I Assign a Commercial Lease in NZ?

5 Ways to Maintain Your Trade Mark in New Zealand

We’re an award-winning law firm

2022 Law Firm of the Year - Australasian Law Awards

2021 Law Firm of the Year - Australasian Law Awards

2021 Fastest Growing Law Firm in APAC - Financial Times

2020 Excellence in Technology & Innovation Finalist - Australasian Law Awards

2020 Employer of Choice Winner - Australasian Lawyer

Transfer of Property Legal Consultant

What is Deed of Assignment for Flat?

A Deed of Assignment for flat is a very important document in the process of transfer of flat property ownership. This document legally transfers ownership from the assignor to the assignee. But what exactly is an assignor and assignee, and what are the important points to include in a deed of assignment?

Important Points

Meaning of Assignor and Assignee

An assignor is a person who currently owns the flat property and is transferring its ownership to another person. The assignee is the person who is receiving the flat property ownership. The deed of assignment for flat is the document that legally transfers property ownership from the assignor to the assignee.

Meaning of Deed of Assignment for flat

The Deed of Assignment for flat is a legal instrument that formalizes the transfer of flat property ownership from the Assignor (owner) to the Assignee (purchaser). The document acts as evidence of the transfer of flat property ownership and is used to protect the rights and interests of both parties.

Some Key Points in the Deed of Assignment

When creating a deed of assignment for flat, it is important to include several key points to ensure that the transfer of flat ownership is legally binding and properly documented. Here are some examples of important points to include:

Description of the flat/property

The deed of assignment for flat should include a detailed description of the property being transferred. This can include information such as the address, size, and any unique features of the property.

Flat/Property construction details

It is also important to include information about the construction of the flat property, such as the name of the constructor and details about the plan approval, commencement and completion certificates, etc.

Information of the Society

The deed of assignment for flat should include information about the society, like, the society name, and its registration number.

Prior transaction history of the property

The deed of assignment for flat should include information about any prior transactions that happened on the flat property. This can include information about how the existing owner has received the ownership and all the references about previous transactions.

Consideration amount and payment details

The deed of assignment for flat should include information about the consideration amount (i.e. the amount of money being paid for the property), the mode of payment, and any details about the payment schedule.

Acknowledgment of payment

The Deed of Assignment for flat should also include a clause where the Assignor gives an acknowledgment that he/she has received the agreed consideration amount from the Assignee. This will help in avoiding any disputes in the future regarding the payment made for the property. It is essential to ensure that the consideration amount has been received in full and that the Assignor has no further claims to the property.

Assurances and indemnification by the assignor

One of the most critical aspects of a Deed of Assignment for flat is the assurances and indemnification provided by the Assignor to the Assignee. The Assignor must assure the Assignee that the property being transferred is free from any encumbrances or legal issues. The Assignor’s assurance declares that the property is not subject to any liens, leases, mortgages, or other agreements that may impact the transfer of the property. Moreover, the Assignor must confirm that the property is not the subject of any court litigation, and they hold the title of the property free and clear. This assurance guarantees that the property being transferred has a clean title, and there are no legal disputes attached to it.

Assurance of no payment dues

The Assignor must assure the Assignee that there are no outstanding dues or pending payments towards any electricity charges, piped gas connection charges, Society maintenance charges, property taxes, and other charges, all taxes and dues in the respect of the property as of the date of execution of the Deed of Assignment for flat. The Assignor should further declare that in case any dues or taxes remain unpaid till the date of execution of the Deed, he/she will pay the same without any objection or dispute.

Assignor’s promise to co-operate with assignee

The assignor should promise to co-operate with the assignee in the future if any documents need to be signed or if any other actions are required to transfer ownership of the flat property. For example – cooperation for enrolling the Assignee’s name as owners of the property in all Government records, society records, Property Tax & M.S.E.B., etc. as & when be required.

Governing law in case of any dispute

The deed of assignment for flat should specify the governing law that will be used in case of any disputes between the assignor and the assignee.

Execution in the presence of witnesses

Finally, the deed of assignment for flat should be signed (executed) by both the Assignor and the Assignee in the presence of witnesses. This ensures that the transfer of ownership is legally binding.

Registration and Stamp Duty

After the Deed of Assignment for flat has been signed by both the parties (assignor and assignee), it must be registered in the sub-registration office. In Maharashtra, the stamp duty for registration is calculated based on the consideration price or the government valuation of the property, whichever is higher. This is an important step to ensure that the transfer of ownership is legally recognized and that the rights and interests of both parties are protected. Proper registration of the Deed of Assignment will also prevent any future disputes or legal complications.

The deed of assignment for flat plays a vital role in transferring the ownership of a property. The document is a legally binding agreement that protects the interests of both the Assignor and the Assignee. It is important to include the above-mentioned important points. Additionally, registering the deed of assignment in the sub-registration office and paying the applicable stamp duty is mandatory.

Market Trends
Current News
Infrastructure
Locality Trends
Seller Corner
Commercial Realty
Budget 2022
Budget 2023
Budget 2024
Coronavirus
Citizen Services
Personal Finance
Construction Know-How
City Transport
PG / Co-Living
Celebrity Homes
Famous Monuments
Green Homes
Home Automation
Home Improvement
Shopping Hubs
Rent Receipt Online
Pay Rent Online
Rent Agreement Online
Personal Loan
Personal Loan EMI Calculator
Personal Loan Eligibility Calculator
Web Stories

Home » Must Knows » Legal » What is sale deed? How is it different from agreement to sell?

What is sale deed? How is it different from agreement to sell?

A sale deed is a legal document that proves that a property has been transferred from the seller to the buyer. A sale deed acts as the main legal document, confirming the sale and the transfer of ownership of property from the seller to the buyer. The registration of a sale deed concludes the property purchase process.

Table of Contents

Details in sale deed

A sale deed usually consists of the following information:

Details of the buyers and sellers: A sale deed carries names, age details and addresses of both the buyer and the seller.

Property description: The sale deed carried complete detail of the property, including the total area, details of construction, the exact address and surroundings.

Property value: Sale deed mentions the amount for which the property is being sold.It provides the exact breakup of the payment. It mentions how much money has been paid as advance and how much paid at the time of registration. It mentions stamp duty and registration fee details as well along with the mode of payment.

Date of delivery: The sale deed clearly mentions the date on which the seller intends to give possession of the property to the buyer. It also mentions the time frame in which the property title will be actually passed on to the buyer.

Indemnity clause: Under this clause which is invariably part of sale deed, the seller promises to pay the buyer for any damages in case of disputes with regard to the ownership, resulting in monetary losses to the buyer.

Sale deed registration

According to the Indian Registration Act, 1908, any agreement for transfer of any interest in an immovable property of value more than Rs 100, is required to be registered. So, if you have purchased any property under any agreement for sale, without it being followed by a proper sale deed, you do not get any right or interest in the property purported to be transferred under the agreement of sale. This absolute rule is subject to an exception provided under Section 53A of the Transfer of Property Act. Section 53A provides that where the buyer has obtained possession of the property that is subject matter of the transfer, while fully complying with his part of the obligation under the agreement, the seller shall not be entitled to disturb the possession so granted to the buyer. It may be noted that Section 53A provides a shield to the proposed transferee against the transferor and debars the transferor from disturbing possession of the transferee, but it does not cure the title of the buyer to the property. The ownership of the property still remains with the seller.

So, in the cases where you have purchased any property under a sales agreement and got possession, the title of the property still remains with the developer, unless a sale deed subsequently has been executed and registered under the Indian Registration Act . Thus, it becomes clear that a title in an immovable property can only be transferred by a sale deed. In the absence of a duly stamped and registered sale deed, no right, title or interest in an immovable property, accrue to the buyer of the property.

Documents for sale deed registration

Chain of title Registered agreement to sell Sales deed document Proof of stamp duty payment Proof of registration fee payment Proof of TDS payment Approved building plan Loan documents NOC from electricity department NOC from pollution control board NOC from water works department Share certificate No-objection certificate from RWA Identity proof of buyer Identity proof of seller Identity proof of witnesses Address proof of buyer Address proof of seller Address proof of witnesses

How to get certified copy of sale deed?

The sub-registrar’s office is responsible for property registrations and maintaining these records till eternity. One can get a certified copy of the sale deed by applying with the sub-registrar of the area concerned.

Can a sale deed be cancelled?

A sale deed can be cancellation if the seller and the buyer have an agreement to this effect. Sections 31 to 33 of the Specific Relief Act, 1963, specify the conditions under which a sale deed can be cancelled. These conditions include:

The deed should have been registered under the Indian Registration Act, 1908.
The individual feels that the deed is voidable or has a doubt that such a deed will cause him injury, if left outstanding.

Things to remember when executing a sale deed

Make a check list of documents you must have.
Keep copies of all the documents along with originals.
Don’t forget to carry pen, pencil, eraser, stapler, adhesive, additional photos, etc., when you go for sale deed registration.
It would be appropriate to keep the day for this task itself. This is a time-taking procedure all said and done.

What is sale agreement?

Sale agreement is signed between the buyer and the seller once they reach a verbal agreement about property sale. A sale agreement mentions the terms, conditions and other crucial aspects of the future sale.

The Transfer of Property Act, 1882, which regulates matters dealing with the sale and transfer of house property, defines the contract for sale or an agreement for sale as under:

“A contract for the sale of immovable property, is a contract that a sale of such property shall take place on the terms settled between the parties” – Section 54. Section 54 further provides that “It does not, of itself, create any interest in or charge on such property.”

All sale agreements have to be documented and registered to have a legal validity. Passing its order the Balram Singh versus Kelo Devi case on September 23, 2022, the Supreme Court has ruled that an unregistered agreement to sell is not admissible as evidence in a permanent injunction suit.

Components of a sale agreement

Name of buyer Name of seller Details of property Transaction value Breakup of payment Period within which the sale must be completed Terms and condition of the sale Responsibilities of the buyer Responsibilities of the seller

Agreement for sale versus sale deed

Can a sale agreement be cancelled?

Yes, a sale agreement can be cancelled too, if one party has failed to honour the commitments made in the sale agreement. If the erring party is the seller, the buyer can demand cancellation and seek damages. Similarly, if the buyer flouts the rules mentioned in the sale agreement, the seller can seek cancellation of the agreement and demand damages.

Sale deed formats

Land sale deed format.

This DEED OF SALE is made and executed on this _______ day of ______________,

Sri ____________________, son/wife/daughter of Sri/Late _______________, aged about _______ years, holding PAN _____________, by Caste ________, by Nationality Indian, residing at _____________________________________________, hereinafter called the “ SELLER ” (which expression shall mean and include his legal heirs, successors, successors-in-interest, executors, administrators, legal representatives and assigns) of the ONE PART .

Sri __________________________________, son of _______________________, aged about _______ years, by Caste __________, by Nationality Indian, holding PAN _____________, residing at _____________________________________________, hereinafter called the “ PURCHASER ” (which expression shall mean and include his legal heirs, successors, successors-in-interest, executors, administrators, legal representatives and assigns) of the OTHER PART .

The SELLER and the PURCHASER are hereinafter referred collectively as parties and individually as party.

WHEREAS the SELLER is the absolute owner, in possession and enjoyment of the piece and parcel of ______ land measuring about ____ decimal, lying and situated in R.S. Plot Number ____, corresponding L.R. Plot Number ____, Recorded in R.S. Khatian Number _____ and L.R. Khatian Number ____, at Mouza _____, J.L. Number _____, Touzi Number ______, under Police Station __________, Registration Sub-District _________, in the district of ________________, more fully and particularly described in the schedule here under written and hereafter referred to as the “ SCHEDULE PROPERTY ”.

ANDWHEREAS the SCHEDULE PROPERTY was the self acquired property of __________, deceased father of the SELLER and he purchased the same from Sri __________________, son of _____________ of _________________________________, by virtue of a Sale Deed dated ________________, registered in the office of the _____________________________, in Book 1, Volume No. ____, Pages ____ to _____, Being Number ___________ for the Year _____.

ANDWHEREAS the said _________ died in-estate on _________ leaving behind his only son namely, Sri _______________, the SELLER herein, as the only legal heir.

ANDWHEREAS the SELLER herein, as the only legal heirs of the deceased ____________, have become the absolute owner of the SCHEDULE PROPERTY since the death of his father _____________ on and he has been enjoying the same with absolute right, title and interest sice then and he has clear and marketable title to the SCHEDULE PROPERTY.

ANDWHEREAS the SELLER being in need of funds to meet his personal commitments and family expenses have decided to sell the SCHEDULE PROPERTY and the PURCHASER has agreed to purchase the same.

ANDWHEREAS the SELLER agreed to sell, convey and transfer the SCHEDULE PROPERTY to the PURCHASER for a total consideration of Rs._________ (Rupees ___________________________) only and the PURCHASER herein agreed to purchase the same for the aforesaid consideration and to that effect the parties entered into an agreement on the _________________ .

NOW THIS DEED OF SALE WITNESSETH:

THAT in pursuance of the aforesaid agreement and in consideration of a sum of Rs._________ (Rupees ___________________________) only received by the SELLER in cash/cheque/bankdraft and upon receipt of the said entire consideration of Rs._________ (Rupees ___________________________) only (the SELLER doth hereby admit, acknowledge, acquit, release and discharge the PURCHASER from making further payment thereof) the SELLER doth hereby sells, conveys, transfers, and assigns unto and to the use of the PURCHASER the SCHEDULE PROPERTY together with the water ways, easements, advantages and appurtenances, and all estate, rights, title and interest of the SELLER to and upon the SCHEDULE PROPERTY TO HAVE AND TO HOLD the SCHEDULE PROPERTY hereby conveyed unto the PURCHASER absolutely and forever.
That the SCHEDULE PROPERTY shall be quietly and peacefully entered into and held and enjoyed by the PURCHASER without any interference, interruption, or disturbance from the SELLER or any person claiming through or under him.
That the SELLER have absolute right, title and full power to sell, convey and transfer unto the PURCHASER by way of absolute sale and that the SELLER have not done anything or knowingly suffered anything whereby their right and power to sell and convey the SCHEDULE PROPERTY to the PURCHASER is diminished.
That the property is not subjected to any encumbrances, mortgages, charges, lien, attachments, claim, demand, acquisition proceedings by Government or any kind whatsoever and should thereby and the SELLER shall discharge the same from and out of his own fund and keep the PURCHASER indemnified.
That the SELLER hereby declares with the PURCHASER that the SELLER have paid all the taxes, rates and other outgoings due to local bodies, revenue, urban and other authorities in respect of the SCHEDULE PROPERTY up to the date of execution of this sale deed and the PURCHASER shall bear and pay the same hereafter. If any arrears are found due for the earlier period, the same shall be discharged/borne by the SELLER.
That the SELLER have handed over the vacant possession of the SCHEDULE PROPERTY to the PURCHASER on ___________ and delivered the connected original title document in respect of the SCHEDULE PROPERTY hereby conveyed on the date of execution of these presents.
That the SELLER will at all times and at the cost of the PURCHASER execute, register or cause to be done, all such acts and deeds for perfecting the title to the PURCHASER in the property hereby sold and conveyed herein.
That the SELLER do hereby covenants and assures that the PURCHASER is entitled to have mutation of his name in all public records, local body and also obtain all documents in the name of the PURCHASER and undertakes to execute any deed in this respect.

SCHEDULE OF PROPERTY

All that piece and parcel of _____ land measuring about _____ decimal, lying and situated in R.S. Plot Number ____, corresponding L.R. plot Number ____, Recorded in R.S. Khatian Number ____ and L.R. Khatian Number ____, at Mouza _____, J.L. Number ____, Touzi Number _______, under Police Station ______, Registration Sub-District ______, in the district of ____________, butted and bounded by:

On the North :

On the South :

On the East :

On the West :

IN WITNESS WHEREOF the SELLER and the PURCHASER have set their signatures on the day month and year first above written.

______________________________

SELLER

______________________________

PURCHASER

DEED OF SALE OF FLAT

This DEED OF SALE is made and executed at ______ on this _______ day of ______________, Two Thousand _______

………. , PAN NUMBER………. ,EPIC/Passport /OCI/CIO/PIO No………., Adhar No……….. son / wife / daughter of ………. residing at ……………..by faith…………… , by Occupation …………. , by Nationality……………….,

Herein after referred to and called as the “OWNER(S)/ VENDOR(S) ”

…………..…PAN-………, having place of business at ………, represented by its Partner(s) ………………. son / wife / daughter of ………., residing at ………. by faith

….., by Occupation ….., by Nationality ….. , hereinafter referred to and called as the ‘DEVELOPER ( s) ’

AND

………. PAN NUMBER, EPIC/Passport /OCI/CIO/PIO No………., Adhar No……….. ……….. son / wife / daughter of ………. residing at ……………..by faith…………… , by Occupation …………. , by Nationality……………….,

Herein after referred to and called as the “CONFIRMING PARTY (IES) ”

………. PAN No……., EPIC/Passport /OCI/CIO/PIONo………., Adhar No……….. son / wife / daughter of ………. residing at …………….. by faith…………… , by Occupation …………. , by Nationality………………., hereinafter referred to and called as the “Purchaser ( S )

( The Vendors / Purchaser(s) is / are being represented by his/her/their Constituted Attorney (s) ….. PAN No……, EPIC/Passport /OCI/CIO/PIO No………., Adhar No……….. son/ wife/ daughter of ……, residing at ………., by faith ………., by Occupation ………., by Nationality ………., by Constituted General/Special Power of Attorney dated ………., /by Authenticated General/Special Power of Attorney being No …dated ……….of the office of the…….. )

The expression of the Vendor & Purchaser shall mean and include the parties itself, their respective legal heirs, executors, successors, administrators, legal representatives and assigns / nominees.

Whereas the Vendor for his bonafide needs and legal requirements, in his sound and disposing mind without any pressure, force, compulsion or coercion has agreed to sell and transfer the said property unto the Purchaser for a consideration value of Rs ………..

For which the Purchaser after scrutinizing the status of the property and also being satisfied regarding the title of the Vendor has agreed to purchase the same against the said consideration.

History of the ownership of the property

NOW THIS DEED WITNESSETH AS UNDER:-

That in consideration of Rs ………….… the entire amount has been received by the Vendor from the Purchaser prior to the execution of this sale deed, the receipt of which is hereby admitted and acknowledged by the Vendor.
That the Vendor hereby sells, conveys and assign the property absolutely and forever with all rights, title and interest of the same, unto the Purchaser who shall hereafter be the absolute owner of the same and enjoy all rights of ownership etc.
That the actual physical possession of the said property has been handed over by the Vendor to the Purchaser who is in possession of the same at the time of registration of this sale deed.
That all taxes, charges, dues, demands, arrears, electricity charges, water charges, outstanding bills, house tax, development charges etc if any, in respect of the said property for the period prior to the date of execution of this sale deed shall be paid and borne by the Vendor and thereafter the same shall be paid and borne by the Purchaser.
That the Vendor hereby agrees and assures the Purchaser to help and assist him in getting the property transferred/mutated in the relevant department and any other concerned department and/or the Purchaser shall have full right to get the property transferred/ mutated in his/her own name from the concerned department on the basis of this Sale Deed even in the absence of the Vendor.
That all right and easements attached with the said property have also been conveyed and transferred with the said property, unto the Purchaser.
That the Vendor has assured and delivered to the Purchaser that the said property under sale is free from all sorts of encumbrances such as Sale, Mortgage, Gift, Transfer, decree, litigation, lease, acquisition/ notification etc. and there is no defect in the title of the Vendor and if it is proved otherwise at any time and the Purchaser suffers any loss, then the Vendor shall be fully liable and responsible for the same and the Purchaser shall be entitled to recover all his/her losses from the
That the Purchaser shall have full right to apply and get the Water, Electric and Sewerage connection regarding the said property from the concerned authorities and also to get the existing name changed in his/her own name from the department concerned without any written consent of the Vendor.
That the Vendor has delivered the previous title documents relating to the said property.
That the Vendor hereby declares and assures to the Purchaser that the said property has not been acquired by the Govt. and there is no injunction or attachment order of any Court or Department.
. That the market value of the property is Rs……………………. All facts relating to its market value, consideration and chargeability to stamp duty and transfer duty have been fully given in the sale deed and mentioned Schedule B of this sale deed .
Any other points to specify

THE SCHEDULE “A”

(DESCRIPTION OF THE ENTIRE PROPERTY)

ALL THAT piece and parcel of ………………… land measuring about ………… Cottahs ……………. Chittacks ………….. sq. ft. more or less land, along with the Complex named …………… having G + …………..Building lying and situated at Mouza-…………., Pargana–………………., J.L. No………….. , Re Su No.-………………… Touzi No…………comprising in R.S. Dag No.-……………………, under R.S. Khatian No.-…………….., corresponding to LR Plot No…………. and LR Khatian No……….. , having Municipal Holding No………………….., Road Name ……………… , being Premises No.-……………. , PIN-………………, under Ward No.-……………… within the limits of ……………….Municipality / Municipal Corporation, within the office of ………………….. P.S.-……………… District-……….., and butted and bounded by: –

ON THE NORTH BY: –

ON THE SOUTH BY: –

ON THE EAST BY: –

ON THE WEST BY: –

THE SCHEDULE ”B” ABOVE REFERRED TO –

[Description of the Flat/Unit]

ALL THAT piece and parcel of a demarcated self-contained residential / semi commercial /office / commercial Flat/ covered garage / open garage being No.………….. on the …………Floor, in Block-…………., having measurement of …………….. sq. ft. Super built up area more or less comprising of ………………………….., with ……. Flooring , from Developer’s Allocation within the G Plus………. Building, of age years ……., the property being tenanted / not tenanted , the property being litigated with pending Title suit No ……………for year …….lying in The Court of ………/ not litigated , within the Complex named ……………….. together with undivided proportionate share of underneath land and other common amenities and facilities including easement and quasi-easement rights along with restrictions and reservations as stated aforesaid as attached with the Multi-storied Building within the said Complex at Municipal Holding No.-………….. , Road , …………………. Being Premises No.-…………., Road……… , Pin ………, under Ward No.-………. , within the ……………Municipality / Municipal Corporation, under the office of ………. , under P.S.- ………………., District-………….. fully described “A” SCHEDULE herein above written.

Annexed Plan marked with Red Border will be treated as part and parcel of this Deed.

– THE SCHEDULE “C”ABOVE REFERRED TO –

[The Common portions]

1. Entrance and exists internal roads, and footpath.

Common durwans / caretaker room , Caretaker Room, Security Camera Room, (if any).
Boundary walls and main gates.
Drainage and sewerage lines and other installations for the same (except only those as are installed within the exclusive are of any unit and/or exclusively for its use).
Staircases lobbies on all the floors and vacant area of the ultimate roof of the proposed building (Roof right will not be available for Garage, Shop and Godown owners, but rights attached to the Ground Floor will be available only).
Tube well and water supply system, water pumps, water pump rooms, overhead tank, septic tank together with all common plumbing installation for carriage of water (save only those as are

exclusively within for the use of any unit.) , community Hall and two wheeler parking space

Lighting fixtures and fittings in common area from common use.

IN WITNESS WHEREOF the parties hereto have hereunto set and subscribed their respective hands and seals after understanding the contents of this Deed of conveyance on the day, month and year first above written.

______________________________

Signature of the Vendor / developer(s )

Signature of the Purchaser (S)

WITNESSES :

SIGNED, SEALED AND DELIVERED

by the Parties at ___________ in the presence of :

Drafted by me:

MEMO OF CONSIDERATION

RECEIVED of and from the Purchaser…………..the sum of Rs…………… (Rupees………………..) herein above towards the full consideration of the property.

……………………………………………………….

SINGATURE OF DEVELOPER / VENDOR/ CONFIRMING PARTY

( NB: The amount received by Vendor , Developer and confirming party should be mentioned separately)

Sale agreement format

THIS AGREEMENT for SALE executed on the…………………. day of………………. 2021

between (name of seller) son of …………,, resident of…………………., hereinafter called the “Vendor” of the one part and (name of buyer), son of …………, resident of…………………. hereinafter called the “Purchaser” of the other part.

WHEREAS the vendor is the sole and absolute owner of the property more fully set out in the Schedule hereunder:

AND WHEREAS it is agreed that the vendor shall sell and the purchaser shall purchase the said property for the sum of Rs………………….. (Rupees in words) free of all encumbrances.

NOW THIS AGREEMENT OF SALE WITNESSES AS FOLLOWS:

The price of the property more fully set out in the Schedule is fixed at Rs…………………..(Rupees………………….) free of all encumbrances.
The purchaser has paid to the vendor this day the sum of Rs………………….(Rupees………………….) by way of earnest money for the due performance of the agreement, the receipt of which the vendor doth hereby admit and acknowledge.
The time for performance of the agreement shall be…………………. months from this date, and it is agreed that time fixed herein for performance shall be the essence of this contract.
The purchaser shall pay to the vendor the balance sale price of Rs…………. (Rupees…………………………………………………) before registration of the sale deed.
The vendor agrees that he will deliver vacant possession of the property to the purchaser before registration of the sale deed.
The vendor shall execute the sale deed in favour of the purchaser or his nominee or nominees as purchaser may require.
The vendor shall hand over all the title deeds of the property to the purchaser or his advocate nominated by him within………………. days from the date of this Agreement for scrutiny of title and the opinion of the vendor’s Advocate regarding title of the property shall be final and conclusive. The purchaser shall duly intimate the vendor about the approval of the title within……………. days after delivering the title deeds to him or his advocate.
If the vendor’s title to the property is not approved by the purchaser, the vendor shall refund to the purchaser the earnest money received by him under this Agreement and on failure of the vendor to refund the earnest money within…………………. days he shall be liable to repay the same with interest thereon at…………………. per cent per annum.
If the purchaser commits a breach of the Agreement, he shall forfeit the earnest amount of Rs…………………. (Rupees………………….) paid by him to the vendor.
If the vendor commits a breach of the Agreement, the vendor shall not only refund to the purchaser the sum of Rs…………….. (Rupees………………….) received by him as earnest money, but shall also pay to the purchaser an equal sum by way of liquidated damages.
Nothing contained in paras 9 and 10 supra shall prejudice the rights of the parties hereto, to specific performance of this Agreement of sale.

(Schedule of Property)

IN WITNESS WHEREOF the vendor and the purchaser have set their hands to the Agreement of sale on this the………………day of…………………. 2021 in the presence of the witnesses:

Witness: Vendor

Witness: Purchaser

Specimen Schedule of the Property

Municipal No/ward no/plot no/khasra no
Location: Street number, name
Place/Area: North, South, East,West
Sub-District Hqrs./Tehsil/Mandal:
Police Station
District/State
Measurement of all sides
Plinth area/floor area
Carpet area
Permitted use of the land/building:

Housing.com viewpoint

Even though land and property are immovable assets, their ownership can only be established through documentary proof: mere possession is not enough. This becomes extremely important in case of a dispute related to property. Sale deed is a highly important document that helps the actual owner prove their ownership in the court of law in case of any contention, and even otherwise too. Its registration and safe keeping is not only highly recommended but also mandatory.

Latest update

District registrars don’t have power to cancel sale deed: madras high court.

Neither the district registrar nor the inspector general of registration are vested with powers to cancel a sale deed executed by following the procedures as contemplated under the Registration Act, the Madras High Court has said.

The remedy for an aggrieved person is to approach a competent civil court of law and seek cancellation of the sale deed or to appeal for declaring it as null and void, it added while passing its judgment in the Netvantage Technologies Pvt Ltd versus The Inspector General of Registration and Stamps and Others

However, in its order dated March 20, 2024, the two-Judge Bench of Justice SM Subramaniam and K Rajasekar said: “If the district registrar finds that there is a prima facie proof to establish fraud or impersonation while conducting a summary enquiry, then alone the document is to be cancelled.”

“But, in respect of any iota of doubt on the prima facie case, the district registrar is not empowered to adjudicate the issues on merits and is bound to relegate the parties to the civil court of law for adjudication,” it added.

Sale agreement with minor not valid: SC

Contracts entered into by minors have no enforceability in the eyes of the law, the Supreme Court has reiterated. The apex court made this observation while upholding an order of the Madurai Bench of the High Court (HC) of Madras, in which the HC had said a sale agreement entered into a minor had no legal sanction.

For the uninitiated, the parties must be competent to contract for an agreement to become a contract under the provisions of the Contract Act, 1872. Under the law, the age of majority is a condition for competency.

While dismissing the plea of one Krishnaveni, the apex court said: “There is no dispute on the contention raised by the defendants in the suit that the appellant was a minor at the time of the said agreement dated 03.09.2007. Therefore, such contract with a minor, was rightly found to be a void contract by the (Madra) High Court.

Agreement to sell doesn’t transfer ownership rights or confer title: SC

An agreement to sell is not an instrument that can transfer ownership of property neither does it confer any title, the Supreme Court has ruled. “The agreement to sell is not a conveyance; it does not transfer ownership rights or confer any title,” a Bench of Justices Vikram Nath and Rajesh Bindal said in its order.

This observation was made by the apex court while allowing an appeal filed by one Munishamappa against a Karnataka High Court order in which it had dismissed the suit for specific performance of a contract in second appeal by respondents M Rama Reddy and others.

In this case the appellant and the respondent signed a sale agreement in 1990, following which the possession of the property was also given. However, since there was a prohibition on the sale of the property due to bar contained in Section 5 of the Karnataka Prevention of Fragmentation and Consolidation of Holdings Act, 1996, no sale deed was executed. After this law was repealed on February 5, 1991, the appellant requested the respondents to execute the sale deed. The latter refused the request.

Sale agreement, lawful possession of property protect buyers’ right: SC

Read full coverage here .

Stamp duty on sale deed and agreement to sale

Since land is a state subject, states have the power to levy stamp duty and registration fee on sale deeds as well as agreements to sell. Registration of both the documents is must under the provisions of the Registration Act.

While stamp duty is typically higher on sale deed registrations, it is comparatively lower in case of an agreement to sell. In Delhi, for instance, the stamp duty on sale agreement is 5.5% for men as against 6% on sale deed.

Some states like Uttarakhand levy the same rate on stamp duty and agreement to sell documents.

What is agreement for sale?

An agreement for sale, is an agreement to sell a property in future. This agreement specifies the terms and conditions, under which the property in question will be transferred.

What is sale deed?

The sale deed is the main legal document by which a seller transfers his property right to the purchaser, who then acquires absolute ownership of the property.

What is the difference between agreement for sale and sale deed?

An agreement for sale is a promise in future, that the property will be transferred to the rightful owner while sale deed is the actual transfer of property ownership to the buyer.

😃 ( 272 )
😐 ( 31 )
😔 ( 30 )

An alumna of the Indian Institute of Mass Communication, Dhenkanal, Sunita Mishra brings over 16 years of expertise to the fields of legal matters, financial insights, and property market trends. Recognised for her ability to elucidate complex topics, her articles serve as a go-to resource for home buyers navigating intricate subjects. Through her extensive career, she has been associated with esteemed organisations like the Financial Express, Hindustan Times, Network18, All India Radio, and Business Standard.

In addition to her professional accomplishments, Sunita holds an MA degree in Sanskrit, with a specialisation in Indian Philosophy, from Delhi University. Outside of her work schedule, she likes to unwind by practising Yoga, and pursues her passion for travel. [email protected]

Deed of exchange: Meaning, stamp duty and taxation.

What is conveyance deed and what does it include?.

Legal tips for buying agricultural land in India.

Stamp duty on rent agreement in Maharashtra.

What is a sale deed and terms and conditions that home buyers should be aware of.

English Mortgage: All you need to know.

Recent Podcasts

Keeping it Real: Housing.com podcast Episode 45

Agreement for sale
Deed of conveyance
Indian Registration Act
Maharashtra Stamp Act
Sale agreement
Specific Relief Act
Supreme Court
Transfer of Property Act

The Federal Register

The daily journal of the united states government, request access.

Due to aggressive automated scraping of FederalRegister.gov and eCFR.gov, programmatic access to these sites is limited to access to our extensive developer APIs.

If you are human user receiving this message, we can add your IP address to a set of IPs that can access FederalRegister.gov & eCFR.gov; complete the CAPTCHA (bot test) below and click "Request Access". This process will be necessary for each IP address you wish to access the site from, requests are valid for approximately one quarter (three months) after which the process may need to be repeated.

An official website of the United States government.

If you want to request a wider IP range, first request access for your current IP, and then use the "Site Feedback" button found in the lower left-hand side to make the request.

IMAGES

Deed of Assignment Template
Deed of Assignment and Transfer of Rights
Deed Of Assignment Sample
FREE 17+ Deed of Assignment Samples in PDF
Deed of Assignment Sample
FREE 17+ Deed of Assignment Samples in PDF

VIDEO

900SQM of Residential Land With Global C of O and Deed of Assignment
BISA NG DEED OF ASSIGNMENT NG ACOPIADO PINATUNAYAN/ CASE NO.3957-P. in 1964 RECOVERED PROPERTY
maximise the remaining days of these year 2023
It is measured 558 sqms with Deed of Assignment and Irrevocable Power of Attorney at N8m
What is "Deed of Assignment" when it comes to real estate?? #realestate #lagoslands #landforsale
Good Deed Assignment

COMMENTS

Deed of Assignment
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 ...
Assignment or Novation: Key Differences and Legal Implications
A deed of assignment is a legal document that facilitates the transfer of a specific right or benefit from one party (the assignor) to another (the assignee). This process allows the assignee to step into the assignor's position, taking over both the rights and obligations under the original contract. In construction, this might occur when a ...
Deed of Assignment: Everything You Need to Know
4 min. In the realm of intellectual property, a Deed of Assignment is a formal legal document used to transfer all rights, title, and interest in intellectual property from the assignor (original owner) to the assignee (new owner). This is crucial for the correct transfer of patents, copyrights, trademarks, and other IP rights.
Deed of Assignment: Everything You Need to Know
The Deed of Assignment is required to effect a transfer of property and to show the legal right to possess it. It is always a subject of debate whether Deed of Assignment is a contract; a Deed of Assignment is actually a contract where the owner (the "assignor") transfers ownership over certain property to another person (the "assignee ...
What is an Assignment of Deed & How Does it Work
An assignment of deed is used to show the deed of a property changing from one party to another, such as when a sale is made. It is used as the written proof to show who has rightful ownership of the property. When someone is purchasing property and decides to sell it before they have paid it off, an assignment of deed form would be used to transfer the rights and everything associated with ...
Understanding a deed of assignment for intellectual property
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.
Deed of Assignment and Transfer of Rights [Parts and Template]
A Deed of Assignment and Transfer of Rights is a legal document used when a person or a company who originally was a party to a contract (also known as the assignor or transferor) transfers his or its rights under the contract to another party (the assignee or transferee). Accordingly, when the Deed of Assignment and Transfer of Rights has been ...
Drafting a Deed of Assignment
A Deed of Assignment is a vital legal document used to transfer rights, interests or assets between parties. It is regularly used in business transactions, and often regarding real estate or intellectual property. A well-crafted deed of assignment can protect both sides from potential legal disputes, ensuring that everyone involved understands ...
What Is A Deed of Assignment, Anyway?
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 ...
What is a Deed of Assignment? Definition and Examples
Read forth to learn more about it. A deed is a signed legal document containing all the legal statutes, laws, and agreement clauses for transferring a property or financial assets from previous owners to a new one. Such a document is required to transfer property, tenancies, mortgages, wills, power of attorney, and a partnership agreement.
DEED OF ASSIGNMENT
DEED OF ASSIGNMENT definition: a legal agreement to give an asset or to sell a debt to someone else: . Learn more.
DEED OF ASSIGNMENT definition
deed of assignment meaning: a legal agreement to give an asset or to sell a debt to someone else: . Learn more.
Understanding the Assignment of Mortgages: What You Need To Know
A mortgage assignment is the transfer of a mortgage from its initial lender to another party. Learn how this affects you! ... The first is a mortgage or, less commonly, a deed of trust. The other is a promissory note. The mortgage or deed of trust will state that the mortgaged property provides the security interest for the loan. This basically ...
Deed of assignment
Deed of assignment. A deed for use when a party to an agreement wishes to assign its rights and benefits under that agreement to another person.
Deed of Assignment in Nigeria & Its Importance
Deed of Assignment is a vital legal document in Nigerian real estate that formally transfers ownership of property from a seller (assignor) to a buyer (assignee). It acts as a legal record of the sale and serves as evidence of ownership for the buyer. In Nigeria, you need a deed of assignment to finish a real estate deal.
What Is A Deed of Assignment, Anyway?
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 ...
Assign your property to another with a "Deed of Assignment"
A Deed of Assignment is a contract where the owner (the "assignor") transfers ownership over property to another person (the "assignee") by way of assignment. The assignee steps into the shoes of the assignor and assumes all the rights and obligations to the property. 2.
Deed Of Assignment And Its Importance In Land Transactions
Deed of Assignment is a contract or an agreement between the seller of a piece of land and the buyer showing details & evidence that all title, rights & interest of ownership has been transferred to the buyer.
Deed of Assignment
A deed of assignment can be used by property owners to assign their beneficial interest to another party; either a legal owner or a non-legal owner. Most commonly the transfer is between husband and wife for tax purposes on a buy to let. Where a property is held as joint tenants and the parties want to assign beneficial interest, then they must ...
What Do You Need To Know About The Deed of Assignment?
Essentially, the Deed of Assignment (DOA) is a legal document that transfers the ownership of a property from one party to another. A DOA is also a document that you'll need to provide if you're applying for a home loan in Malaysia.
What is a Deed of Assignment in New Zealand?
Assignment is the process where you, the assignor, transfer the rights and benefits under a contract to a new person, the assignee. You need to formalise this process in writing in some way, and you can use a deed of assignment to fulfil this requirement. There are a variety of situations you can use a deed of assignment in, so it is important ...
Deeds of Assignment of a Debt
A deed of assignment of a debt is the document to use for this. You would need to assign the whole of a debt, as you cannot assign only part of it. The debtor cannot assign the debt to someone else unless the creditor agrees and you would then do this via a deed of novation. 2. What is an assignment of a loan?
What is Deed of Assignment for Flat?
Meaning of Deed of Assignment for flat. The Deed of Assignment for flat is a legal instrument that formalizes the transfer of flat property ownership from the Assignor (owner) to the Assignee (purchaser). The document acts as evidence of the transfer of flat property ownership and is used to protect the rights and interests of both parties.
Sale Deed: Legally Binding Document for Property Transfers
A sale deed is a legal document that proves that a property has been transferred from the seller to the buyer. A sale deed acts as the main legal document, confirming the sale and the transfer of ownership of property from the seller to the buyer. The registration of a sale deed concludes the property purchase process. Details in sale deed.
Federal Register :: Fluid Mineral Leases and Leasing Process
The BLM intentionally selected the assignment and transfer fixed filing fee as the most representative filing fee to review because (1) assignments and transfers are the most common application received by the BLM; (2) the other applications that require filing fees are more rarely used; and 3) all state offices are familiar with the assignment ...

Deed of Assignment: Everything You Need to Know

What Is an Assignment?

What Is a Deed of Assignment?

Requirements for a Deed of Assignment

Information to Include in a Deed of Assignment

Deed of Assignment or Deed of Novation: Key Differences and Legal Implications of Novation and Assignment Contracts

Table of Contents

Key Differences Between Novation and Assignment Deeds

What is a Deed of Assignment?

Choosing Between Assignment and Novation in a Construction Contract

Authored By Raea Khan

Find what you need

Family Limited Partnership (FLP) for International Estate Planning

How to Use Life Insurance for International Estate Planning: A Comprehensive Guide

Choosing the Right Vehicle for International Estate Planning: A Guide to International Estate Planning Tools

Speak to us Now or Request a Consultation.

Construction & Building Law

International Estate Planning

Commercial & Business Law

Planning & Environment Law

Wills & Estates

Get In Touch

Thank You For Your Request.

Deed of Assignment (for Intellectual Property)

To be legally effective a deed of assignment must contain:

Letter of Assignment (for Trademarks and Patents)

Intellectual Property Sales Agreement

IP Transfer Declaration

Merger Document

DEED OF ASSIGNMENT: EVERYTHING YOU NEED TO KNOW.

Related Posts

Understanding intellectual property in business

Deed of Assignment and Transfer of Rights [Parts and Template]

Parts of a Deed of Assignment and Transfer of Rights

Related Articles

How to Publish a Book in the Philippines

Sample Application Letter for Teachers

Sample Graduate School Recommendation Letter

Be the first to comment

Drafting a Deed of Assignment

Introduction

Definitions (feel free to skip)

Defining the Deed of Assignment

Q: Does a Deed of Assignment need to be signed?

Q: What is the difference between an assignment and a novation?

Q: Is a Deed of Assignment legally binding in different jurisdictions?

Q: Are there any tax implications when drafting a Deed of Assignment?

Q: Do I need legal advice when drafting a Deed of Assignment?

Q: How can I ensure that my Deed of Assignment is valid?

Q: What information do I need to provide when drafting a Deed of Assignment?

Q: What are common mistakes made when drafting a Deed of Assignment?

Example dispute

Templates available (free to use)

Links to get you started

Try the world's most advanced AI Legal Assistant, today

Quick Searches

What is a Deed of Assignment?

Author : Administrator

Who Signs the Deed of Assignment?

Learn how to acknowledge any source of information using the APA 7th style .

Related Study Materials

Our Experts can answer your Assignment questions instantly.

About the Author

Administrator

What is Market Segmentation?

How to Check AI Written Assignment?

How to Write Psychology Research Reports and Assignments?

Core Components of a Successful Assignment

How to Write a Reflection Paragraph in an Assignment?

Download Guide Book

Searching across 1 Million Resources...

Today's Special Get Upto 50% OFF *

Select Coupon

Meaning of deed of assignment in English

Examples of deed of assignment

Learn more with +Plus

Understanding the Assignment of Mortgages: What You Need To Know

Assignment of Mortgage – The Basics

Home Loan Documents

Using MERS To Track Transfers