Hello, hope you’ve been good, so we are continuing from where we stopped in the last post.
A Deed of Assignment. First off, a Deed is an instrument used to convey ownership of property from one person to another. A Deed of Assignment states the date when the title in the property transfers from one owner to the other. A Deed must consist of the names and descriptions of the parties, proper and adequate description of the property, the agreed purchase price, the acknowledgement of receipt of that amount, the capacity in which the Vendor is selling(either as an agent, a trustee, or the owner), a Warranty that he has a right to sell in that capacity, condition that the contract shall be conditional on the obtaining of any requisite consents to the transaction, and Commissioner of Oaths or Governors Consent to sign and validate the agreement. etc. The Deed of Assignment could also come in the form of a governor’s consent or registered conveyance.
Please I cannot overemphasize this, beware Omo-Onile who would issue just a receipt for a property as an important land document and in the absence of the real owner(s). On no account should you deem a receipt an instrument of transfer of rights in a land (PLEASE FLEE) Don’t be one of those guys that bought a land that has been sold to 50 others.
Always consult a seasoned property lawyer (IBEJULEKKILAWYER.COM) before you buy a land to help you prepare or verify a Deed of Assignment. It’s very dangerous if you don’t have one.
We’ll be discussing Survey plans in our next post.