How to Register a Deed of Assignment in Ogun State: A Comprehensive Guide
Introduction
In Ogun State, Nigeria, registering a Deed of Assignment is a crucial step in formalizing property transactions. This legal process ensures that the transfer of property rights is recognized by the government, providing protection against future disputes. Whether you’re an individual or a corporate entity, understanding the registration process is essential to safeguard your investment and comply with state regulations.
Understanding the Deed of Assignment
What Is a Deed of Assignment?
A Deed of Assignment is a legal document that transfers the interest or rights in a property from one party (the Assignor) to another (the Assignee). In Ogun State, this document is particularly important when dealing with land that holds a Certificate of Occupancy (C of O). The Land Use Act mandates that such transfers require the Governor’s consent, which is typically delegated to the Commissioner for Lands and Water Resources.
Importance of Registration
Registering the Deed of Assignment with the Ogun State Land Administration and Revenue Management System (OLARMS) provides several benefits:
Legal Recognition: It formalizes the transfer, making it legally binding.
Protection Against Fraud: Helps prevent disputes over property ownership.
Government Acknowledgment: Ensures the state recognizes the new owner for purposes like tax assessment and land use planning.
Step-by-Step Guide to Registering a Deed of Assignment in Ogun State
1. Prepare the Required Documents
Before initiating the registration process, ensure you have the following documents:
Executed Deed of Assignment: The document must be signed by both parties.
Survey Plan: Required if part of the land is excised.
Passport Photographs: Of both the Assignor and Assignee.
Stamp Duty: 3% of the consideration amount.
Stamp Duty Sealing Fees: ₦1,000.
Payment of Accrued Ground Rent: Evidence of payment.
Deed Approval Fee: 5% of the assessed value.
Non-Refundable Application Fee: ₦10,000.
Late Registration Fee: ₦10,000 (if registration occurs more than one year after execution).
Certificate of Incorporation: For corporate entities.
Inspection/Assessment Approval: Obtain Approval-in-Principle.
2. Complete the Online Application
Visit the OLARMS portal: OLARMS Portal
Select Application Type: Choose between Individual or Corporate registration.
Enter Applicant and Seller Information: Provide details such as names, addresses, and contact information.
Property Location Details: Specify the street and village/LGA.
Upload Required Documents: Attach scanned copies of all necessary documents.
3. Submit the Application
After completing the online form:
Review: Ensure all information is accurate.
Submit: Click the submit button to send your application.
4. Pay the Necessary Fees
Upon submission, you’ll receive payment instructions:
Bank Payment: Pay the required fees at designated banks.
Payment Confirmation: Obtain receipts and confirmation of payments.
5. Await Inspection and Assessment
The Ogun State Ministry of Lands and Housing will conduct an inspection of the property:
Schedule: An inspection date will be provided.
Assessment: The property will be evaluated for valuation and compliance.
6. Obtain Governor’s Consent
After successful assessment:
Approval: The Commissioner for Lands and Water Resources will grant consent.
Issuance: A Certificate of Registration will be issued.
Common Challenges and How to Overcome Them
1. Incomplete Documentation
Ensure all required documents are gathered before starting the application process. Missing documents can lead to delays or rejection.
2. Incorrect Payment Procedures
Follow the provided payment instructions carefully. Incorrect payments can result in processing delays.
3. Delays in Inspection
Be proactive in scheduling and preparing for the property inspection. Delays can occur due to high volumes of applications.
Frequently Asked Questions (FAQs)
Q1: Can I register a Deed of Assignment without a Certificate of Occupancy?
A1: No, the property must have a valid Certificate of Occupancy to proceed with registration.
Q2: How long does the registration process take?
A2: The process duration varies but typically ranges from 4 to 6 weeks, depending on the completeness of your application and the inspection schedule.
Q3: Is it mandatory to use a lawyer for this process?
A3: While not mandatory, engaging a lawyer can help ensure that all legal requirements are met and can assist in navigating the process smoothly.
Conclusion
Registering a Deed of Assignment in Ogun State is a vital step in securing property transactions. By following the outlined steps and ensuring all requirements are met, you can navigate the registration process effectively. Remember, proper registration not only legitimizes your ownership but also protects you from potential legal disputes in the future.