A Deed of Assignment is necessary when transacting Real estate in Anambra. It is a legal document that must be issued and signed during the purchase of Real estate.
A Deed of Assignment is a legal document in Anambra State, Nigeria. The document formalizes the transfer of ownership rights for real property, such as land or buildings, from a seller (assignor) to a buyer (assignee).
It serves as concrete evidence of ownership transfer, providing legal security for the buyer and streamlining future transactions.
In this article, we’ll be showing you everything you should know about a deed of assignment in Anambra.
Why is a Deed of Assignment Important in Anambra?
A Deed of Assignment is important for several reasons in Anambra State. When it comes to real estate ownership, it is sacrosanct to prepare one. Here’s a breakdown of the importance of a Deed of Assignment;
Read Also: What You Need to Know About Anambra State Property Laws
1. It Solidifies Ownership Transfer
A Deed of Assignment is a legally recognized document. It establishes and confirms the transfer of ownership rights from the seller (assignor) to the buyer (assignee).
This eliminates any doubts and provides concrete and verifiable proof of ownership for the buyer.
2. It Serves as Evidence
In case of ownership disputes in the future, a Deed of Assignment serves as a vital piece of evidence. If someone challenges your ownership, the Deed acts as legal documentation that strengthens your claim.
3. It Enhances Security and Future Transactions
The Deed functions as a legally binding contract. It protects the buyer’s ownership rights. This discourages attempts to seize or reclaim the property by unauthorized parties.
When you possess a Deed of Assignment, it simplifies future dealings related to the property. Selling the property in the future or using it as collateral to obtain a loan becomes easier. This is because the Deed of Assignment verifies your ownership without a doubt.
What is the format of a Deed of Assignment in Anambra State?
A Deed of Assignment has a format that stays consistent not just in Anambra but in all the states of Nigeria. This format includes,
1. Cover Page
This part shows the identities of the buyer and seller as well as a description of the land. This is where the names of the seller and buyer appear first. It is usually written in bold letter.
2. First Inside Page
This page shows the date of the transfer, the name, the location of the buyer, and the location of the seller. It goes on to show a history of how the seller came into possession of the land.
3. Second Inside Page
This page shows the description and cost of the land. It includes a survey plan number as well as the date and name of the surveyor.
It goes on to show the promises that both buyer and seller would abide by after the transaction is completed.
4. Last Page
The last page displays the signatures of the buyer and seller as well as the signatures of witnesses to the transaction. It is very important because it authenticates any transaction carried out.
Property buyers should involve a lawyer during this process. Especially if they are not familiar with the documents required to be prepared and transferred to them by land sellers. The lawyer will protect their interest during the course of property transactions.
Read Also: Property Documentation: Who Should Sign Your Deed
What are the Requirements for Obtaining a Deed of Assignment?
To obtain a Deed of Assignment in Anambra, there are requirements you should have. Here is a list of these requirements;
- Duly completed Deed of Assignment form
This is obtainable from the Ministry of Lands in Anambra State.
- Documentation verifying seller’s ownership
You must have a document that verifies the seller’s ownership. This could be a Certificate of Occupancy or a previous Deed of Assignment.
- Governor’s consent (if applicable)
This is required in most cases. You should consult with the Ministry of Lands to determine applicability.
- Payment of registration fees
The amount to be paid varies depending on the property’s value.
What is the Procedure for Applying and Registering a Deed of Assignment in Anambra State?
Successfully registering a Deed of Assignment in Anambra State involves several steps. These steps are very necessary. Here’s a breakdown of the process:
1. Application Submission
During this phase, you obtain an application form and fill it out. After filling out the form, you should submit it with some supporting documents. These documents include
- Six copies of the Deed of Assignment signed by all involved parties.
- The current Tax Clearance Certificate of the assignee.
- An affidavit by the applicant (or a Director or Secretary in the case of a corporate entity) verifying the information provided in the Application Form.
- Affidavits of attestation from all individuals who witnessed the transaction.
2. Commissioner Review
After the application submission stage, it gets to the desk of the commissioner. The Commissioner forwards the Application Form and supporting documents to the Permanent Secretary.
The Permanent Secretary then sends the documents to the Director of Lands for further processing.
3. File Creation
What follows next is the creation of a file. The Director of Lands instructs the land Officer responsible for the specific area of your real estate property to open a file for the application.
Thereafter, a file number is assigned, and the file is forwarded to the Principal Valuation Officer for property valuation.
4. Valuation Process
The land officer attaches a sketch plan of the property and submits it to the Principal Valuation Officer. The Principal Valuation Officer reviews the inspection and valuation report for accuracy.
The Principal Valuation Officer signs it and returns the file to the Schedule Land Officer if there are no errors.
5. Fee Notification, Payment, and Confirmation
The required fee will be made known to you by the land officer. Then you go ahead and make payments at the designated banks. Copies of the bank tellers are submitted to the Sub-treasury and the Accounts Department.
This is where verification of payments is done. This is done by cross-checking the bank tellers with bank manifests.
When payment details are confirmed in the manifest, a receipt is issued to you. In cases where no evidence of payment is found, you will be advised to rectify payments.
6. Approval Process
There’s a bureaucratic process involved here just as in some steps above. The applicant submits a copy of the receipts to the Schedule Land Officer, who attaches them to the file.
The file is then sent to the Director of Lands for review to ensure all necessary information is provided.
The Director of Lands then forwards the file to the Permanent Secretary requesting approval from the Commissioner.
7. Commissioner’s Approval
The commissioner’s approval is very necessary while registering your Deed of Assignment in Anambra. After receiving the file from the Permanent Secretary, the Commissioner gives approval provided the transaction aligns with established procedures.
Once approved, the Commissioner appends his signature to the file. The file returns to the Director of Lands who in turn passes it on to the land officer. The land officer sends the file to the Registrar. This is where stamping and collection is done.
This process is necessary to properly register a Deed of Assignment in Anambra State.
A Deed of Assignment is the legal equivalent of a receipt for goods purchased at a store. It can also be likened to the particulars of a newly bought vehicle. Having a deed of assignment offers you legal protection and simplified future transactions.
