PROCEDURE FOR THE REGISTRATION OF DEED OF ASSIGNMENT IN NIGERIA
A Deed of Assignment is a legal document that transfers a party’s rights and benefits to another party.
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PROCEDURE FOR THE REGISTRATION OF DEED OF ASSIGNMENT IN NIGERIA
A Deed of Assignment is a legal document that transfers a party’s rights and benefits to another party.
Cambridge English Dictionary describes it as, ‘a legal agreement to give an asset or to sell a debt to someone else and enables ownership of a life-insurance policy to be transferred from the existing owner to another person or organization. A deed of assignment is essentially for the Land purchases and the transfer of property and asset.
The importance of Deed of Assignment cannot be underestimated; it is valid evidence to title to land especially in dispute. The party who transfers rights and benefits is known as the’ assignor’, and the person who receives the rights and benefits is known as the ‘assignee’.
A valid deed of assignment must contain the following details:
1. Names, address, status of Participants in the transaction
2. The date on which the property was transferred from the vendor to the buyer.
3. The nature of assignor's (vendors') title’s.
4. The entire description/specifications of the property, including all prior documentation, from the time it was first acquired until the current moment of sale.
5. Details regarding the property's verified document.
6. The amount of money paid in a real estate transaction (purchase price), as well as the vendor's willingness to accept the price paid.
7. The nature of the transaction and the capacity of the assignor (vendor).
8. Signatures of the parties and witnesses 9. Survey plan 10. The details of the lawyer who drafted the deed. 11. The Governor's assent.
REQUIREMENT FOR REGISTRATION
1. Title applicant obtains an Application Form and returns the completed Application Form to the Lands Department together with the following supporting documents;
2. Tax clearance receipts from the applicant or, in the case of a corporation, two of the directors, for the previous three years.
3. An affidavit signed by the applicant, or in the case of a corporation, a Director or Secretary, attesting to the accuracy of the information on the Application form.
4. Affidavit of attestation by witnesses.
After the aforementioned requirements are fulfilled, the applicant can go ahead to execute the deed in compliance with the following procedure:
1. The Application form, along with any other supporting documentation, is to be sent by the Commissioner to the Permanent Secretary, who then sends it to the Director of Lands to be processed.
2. The Director of Lands directs the Schedule Land Officer in charge of the area in question to open a file, assign it a file number, and forward it to the Principal Valuation Officer for valuation.
3. The Land Officer II attaches a sketch plan of the property and submits it to the Principal Valuation Officer.
4. The inspection and valuation report are reviewed by the Principal Valuation Officer. The Principal Valuation Officer signs the report and returns it to the Schedule Land Officer if there are no problems in the computation or report.
5. The Schedule Land Officer advises the applicant of the fees that must be paid as well as the banks to whom the payments must be made. The Head of Accounts and/or the Sub-Treasurer receive a copy of the fee schedule.
6. The applicant pays the chosen banks and obtains copies of the bank tellers to the Sub-treasury and Accounts Departments.
7. Payments are confirmed by the Sub-treasury office by comparing bank tellers to bank manifests. If the payment information is included in the manifest, the applicant receives a receipt. However, if there is no record of payment in the manifest, the applicant should correct payments before requesting a receipt. This should be reported to the Director of Lands.
If the transaction follows the established processes, the Permanent Secretary analyzes the entire process and delivers the file to the Commissioner for approval. The Commissioner signs the approval and sends it to the Permanent Secretary, who then submits it to the Director of Lands.
Subsequently, the Director of Lands directs the Schedule Land Officer to make arrangements for stamping and registration, as well as to notify the applicant of the date when the registered Title document will be available for collection. The Schedule Land Officer submits the paperwork for stamping and registration to the Registrar of Deeds. Following which the document is registered by the Registrar of Deeds, and the applicant signs and obtains the registered title document.
Before the actual alienation or sale of any interest in land in Nigeria, the Governor's authorization is required. The Land Use Act stipulates that the Governor's consent must be acquired. Section 22 of the Act states that it is unlawful for the holder of a statutory right of occupation given by the Governor to assign, mortgage, transfer possession, sublease, or otherwise alienate his right of occupancy or any part thereof without first obtaining the Governor's consent. The Land Use Act further states that "when providing his assent to an assignment mortgage or sublease, the Governor may compel the holder of a statutory right of occupation to submit an instrument in evidence of assignment, mortgage, or sublease, and the holder shall send the said instrument to the Governor when so needed in order for the Governor's consent to be expressed by endorsement thereon."
NB: This article is not a legal advice, and under no circumstance should you take it as such. All information provided are for general purpose only. For information, please contact chamanlawfirm@gmail.com
WRITTEN BY CHAMAN LAW FIRM TEAM
EMAIL: chamanlawfirm@gmail.com
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