Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,154,179 members, 7,821,987 topics. Date: Wednesday, 08 May 2024 at 11:47 PM

Deed Of Assignment And What You Should Look Out For - Properties (3) - Nairaland

Nairaland Forum / Nairaland / General / Properties / Deed Of Assignment And What You Should Look Out For (29296 Views)

Buy 6 Plots Get 1 Free + A Free Deed Of Assignment / Land Title Deed Of Assignment And Registered Survey / You Don't Have A Land, If You Don't Have A Deed Of Assignment (2) (3) (4)

(1) (2) (3) (Reply) (Go Down)

Re: Deed Of Assignment And What You Should Look Out For by TheLawyer(m): 10:27pm On May 07, 2017
Ayhomes:
Well The Law. That is the reason why I always tell my clients to buy land with C of O from Estate not from omo onile the price of deed from my company is just 50k but omo onile can charge 500k just for them to sign your deed. Pls be wise, if you must by land in lagos buy from us, we have land within your budget and be rest assured you investment is save with us. Call or whatsapp +2349066815852 thanks

I usually advise my client not to allow sellers prepare deed for them. It's like selling a product to me and telling me you will help me verify if the product is genuine.
Re: Deed Of Assignment And What You Should Look Out For by TheLawyer(m): 10:32pm On May 07, 2017
sirssb:
OP wots the difference between deed of assignment and sales agreement?

I will soon write on that soon. A sale agreement which is akin to Contract of sale just documents the transaction/terms agreed to during the transaction. Some of the terms could be part payment/first deposit, when to take possession, default of paying balance, etc. it cant be used to transfer title. And it will not be accepted when apply for c of O. but in a deed, the full amount must be paid before interest/title can be transferred.

I hope that's clear enough

1 Like

Re: Deed Of Assignment And What You Should Look Out For by TheLawyer(m): 10:35pm On May 07, 2017
potent5:

The way you people mislead innocent people eh. How on earth would you be telling someone to avoid going to lawyers when buying landed property. People like you should be arrested; you are part of the problem we have in this country.

As in ehn... my brother i tire o. he is already assuming the person is in trouble just because he mentioned lawyer. Even we lawyers dont claim to be the alfa and omega in land transactions because we work with other professionals and complement each other. Is there any profession that doesnt have scammers?
Re: Deed Of Assignment And What You Should Look Out For by TheLawyer(m): 10:37pm On May 07, 2017
thunder74:

Beautiful exposition, nothing to add, nothing to subtract, beautifully detailed. God bless you sir.
Do I have your permission to share on our website with credit sir?


Yes please do. I will like if you can link to my website blog make i start to dey build backlinks grin
please check the end of the post for the link to my site.

Thanks a lot, really appreciate
Re: Deed Of Assignment And What You Should Look Out For by daudayodeji1(m): 10:42pm On May 07, 2017
If one is planning to get farm land... Which is most of the time sold by the family or community is there anything to watch out for? Interested in getting an acre and they are saying only family receipt will be given
Re: Deed Of Assignment And What You Should Look Out For by TheLawyer(m): 11:00pm On May 07, 2017
daudayodeji1:
If one is planning to get farm land... Which is most of the time sold by the family or community is there anything to watch out for? Interested in getting an acre and they are saying only family receipt will be given

yes. That is really what they can offer. it's better you go with your lawyer to prepare your deed of assignment. it's your obligation to verify the land and if you most surely believe they own the title, then go ahead to purchase then get a surveyor to survey the land and a lawyer to draft your necessary document.

2 Likes

Re: Deed Of Assignment And What You Should Look Out For by potent5(m): 11:14pm On May 07, 2017
TheLawyer:


As in ehn... my brother i tire o. he is already assuming the person is in trouble just because he mentioned lawyer. Even we lawyers dont claim to be the alfa and omega in land transactions because we work with other professionals and complement each other. Is there any profession that doesnt have scammers?
Don't mind that charlatan going about deceiving and misleading people.
He claims to be a Surveyor. But I am sure He's only half-baked. Surveyors who know their onions would never make such an unprofessional comment. Qualified Surveyors work in collaboration with lawyers.
Re: Deed Of Assignment And What You Should Look Out For by TheLawyer(m): 5:12am On May 09, 2017
sapele914:
What agency of the Federal Government owns the land you bought e.g. Police,custom,federal capital territory etc,consult a surveyor and a property lawyer,the federal government does not own any land other than those they acquired before the land use act of 1978. Land by virtue of the Land use act is vested in the state Governors.

You are correct bro. That's what i was trying to let kayzm know. Because he saw Fed Govt jurisdiction, he felt is a land under acquisition. Thanks for the input
Re: Deed Of Assignment And What You Should Look Out For by TheLawyer(m): 5:14am On May 09, 2017
ruggedlaw:
Generally simplified, however I do not totally agree with the part that says someone that purchased from a seller who bought from a family should not bother to procure a Deed of Assignment from the family. That may be text book law but in practice IF the person you're buying from has NOT obtained a C of O with respect to that land especially in Lagos, you MUST execute a Deed of Assignment with the family, to with, the Head of family and the principal members, the subsequent buyer can at best get a Deed or sales agreement executed between him and the person he bought from, the family will also sign form 1 C for you. Remember, you cannot process your title without force 1 C. .....16 years practice in Lagos speaking here.

Thanks for the input. sometimes some of the omonile are reluctant to sign the deed because of the consideration clause since they never received it from the presumed Assignee. Others are willing since they will charge for signing.
Re: Deed Of Assignment And What You Should Look Out For by TheLawyer(m): 5:20am On May 09, 2017
kimacent:


Pls how. Come fee like
1.Bush entering.
2.signing money.
3.money for drinks etc
Where are dey coming from. Becos recently these tins are becoming to much in place like Rivers state n Bayelsa.

It is Lagos that started that rubbish. Now Lagos and Ogun have recent law prohibiting such. Signing money is normal as the law didnt really prohibit that in strict sense. it is just a channel to extort more monies. Most of them are jobless and once a land is sold it's like you have blocked their source of income. so they come up various taxes. That's why it is good to ascertain your expenses in land transaction by asking the occupants before purchasing any land no matter how cheap.

Also, that is one of the advantages of Estate land. Even though estate land also have some hidden charges too.

1 Like

Re: Deed Of Assignment And What You Should Look Out For by TheLawyer(m): 5:27am On May 09, 2017
daudayodeji1:
If one is planning to get farm land... Which is most of the time sold by the family or community is there anything to watch out for? Interested in getting an acre and they are saying only family receipt will be given

In addition to verifying, there is what we call excision. the land in the state belongs to the state government. so they can collect a portion from community / family land and publish an official Gazette indicating so. Now, what some omonile do is that they still go about selling that portion of the land that the Govt has taken as their own. so your best bet is to get a surveyor (not to do your survey plan) but to just take coordinates and chat it at the office of the surveyor General to see if it is under Govt acquisition.

Also, ask them for their Gazette and notice their response.

We can assist with that. Just call the number in my signature below.

Thank you.

3 Likes

Re: Deed Of Assignment And What You Should Look Out For by TheLawyer(m): 5:31am On May 09, 2017
potent5:

Don't mind that charlatan going about deceiving and misleading people.
He claims to be a Surveyor. But I am sure He's only half-baked. Surveyors who know their onions would never make such an unprofessional comment. Qualified Surveyors work in collaboration with lawyers.

If I tell the shit some so called surveyors have done my client ehn. One even told me that he is no longer with his boss that he has faced his profession (Journalism). I shock

Abeg pity that guy. You don finish am seriously. You are really potent cool
Re: Deed Of Assignment And What You Should Look Out For by MrRitchie: 4:50am On Sep 24, 2017
I just bought a land from a family in ota and I want to know how much it'll cost me for you to help me draft a deed of assignment, as you've mentioned above.
Re: Deed Of Assignment And What You Should Look Out For by Homeyfav: 11:47am On Dec 08, 2017
zcx=-90p[;'
Re: Deed Of Assignment And What You Should Look Out For by bbeckky: 4:30pm On Dec 28, 2017
I have someone that wants to draft deed of assignment for his land, he bought a land somewhere after Agbara but hasn't done any documentation whatsoever. Any idea how much that will cost and how to go about it please house. Thanks
Re: Deed Of Assignment And What You Should Look Out For by TheLawyer(m): 5:27pm On Jun 30, 2018
bbeckky:
I have someone that wants to draft deed of assignment for his land, he bought a land somewhere after Agbara but hasn't done any documentation whatsoever. Any idea how much that will cost and how to go about it please house. Thanks

Depending on the documents needed . The most expensive now is survey plan. very annoying. Cost depends on the size and location so it's not fixed. some places in Lagos like Eti-Osa LGA can vary between N800k -N1m if am not mistaken. But that's the job of a surveyor and I have one working with me.

Sorry for the long silence. I haven't been on nairaland for a long while. If still interested please check my signature for my c o n tact. Thanks
Re: Deed Of Assignment And What You Should Look Out For by TheLawyer(m): 5:29pm On Jun 30, 2018
MrRitchie:
I just bought a land from a family in ota and I want to know how much it'll cost me for you to help me draft a deed of assignment, as you've mentioned above.

Usually 10% but also negotiable depending on the cost of the land.
Sorry for the long silence. I haven't been on nairaland for a long while. If still interested please check my signature for my c o n tact. Thanks
Re: Deed Of Assignment And What You Should Look Out For by bbeckky: 4:32pm On Jul 13, 2018
Thanks @TheLawyer
TheLawyer:


Depending on the documents needed . The most expensive now is survey plan. very annoying. Cost depends on the size and location so it's not fixed. some places in Lagos like Eti-Osa LGA can vary between N800k -N1m if am not mistaken. But that's the job of a surveyor and I have one working with me.

Sorry for the long silence. I haven't been on nairaland for a long while. If still interested please check my signature for my c o n tact. Thanks
Re: Deed Of Assignment And What You Should Look Out For by elengine: 11:34am On Feb 15, 2019
Many thanks for this. Please I have a land that falls within arepo wawa area in Ogun state. I bought the land from someone that originally bought it from omonile. I.e the family who owns the land. My question is which names will include in the deed of assignment? Is it head of family and other excos members or the name of the person that sold it to me. Thanks

Before I start explaining what a deed is, I will like to stress the fact that there are some big big grammar when it comes to the legal profession. But I will try my best to explain in lay terms. Some words which must be used will be explained a little bit in parenthesis. So let’s dive in …

A Deed is a document in writing which provides information about some terms, conditions or facts agreed to between persons on good quality paper, vellum or like materials and which is signed, sealed and delivered.

The term deed is generally used to describe an instrument (legal document) which title, right or interest in land is transferred from one person(s) to another or to create an obligation binding on one or more persons. Alternatively, it can be used to confirm some acts by which an interest, right or title in land has already passed. In other words, it is not only when a sale transaction occurs that a deed is required. If you were given a plot of land for free and you have taken and currently enjoying possession (using the land) you are required to draft a deed (deed of gift).

From the above definition / explanation of a deed, when a transaction relates to a landed property, a deed must be drafted to properly transfer right or interest in that property. With that in mind, a receipt evidencing a sale transaction is not enough to claim a right to a landed property. In the same vein, a contract of sale of land is not enough to transfer title or interest in land. It is just a document evidencing your transaction which does not totally transfer title because of its contents or form.

An important point to note is that if a document in writing is to constitute a deed; it must be signed or marked (if an illiterate), sealed and delivered. The writing expresses the content of the bargain between the parties to it. Signing indicates the person(s) that are to bound by it, sealing testifies to the consent of the parties to be bound by the bargain in the deed. Delivery gives it its binding effects.

WHEN IS A DEED REQUIRED / CERTAIN DOCUMENTS THAT MUST BE BY DEED

1. The transfer of legal interest in land. All conveyances of land or any interest in land are void for the purpose of creating a legal estate unless made by deed. – Deed of Assignment
2. A power conferring authority on a person/agent to execute a deed. The power itself must be by deed. – Power of Attorney
3. A conveyance or transfer of interest in land without consideration (cash). – Deed of gift
4. A lease for a term above 3 years. – Deed of Lease/Sub-lease. Generally, a rent above 3 years.
5. A legal mortgage. – Deed of Legal Mortgage

CONTENTS / WHAT YOU SHOULD LOOK OUT FOR TO ENSURE YOUR DEED IS PROPERLY DRAFTED

1. THE INTRODUCTION
This should contain
column for date. It is should not be dated because if you don’t stamp it within 60 days, you will attract penalty for every day in default after the 60days.
The parties and their addresses
Recital – a brief summary of how the owner of the land became the owner and his intention to transfer his rights, etc (sell) and how the buyer has agreed to purchase the land

2. THE SECOND PART – USUALLY THE OPERATIVE PART
This should contain
- The consideration (cost of the land)
- Words indicating that the buyer (assignee) has paid the amount and the seller (assignor) has received same from you
- The description of the property
- If its registered (c of o) and the details of the c of o. with this content you can verify if the c of o is genuine. So if you bought a land and the seller claimed they have c of o / global c of o, your deed should contain something like … Certificate of Occupancy No. 12345 dated 07/05/2017 and registered as 12/34/5678 in the Lands Registry, Alausa, Lagos state

3. ANY MISCELLANEOUS / TERMS AGREED BY THE PARTIES

4. CONCLUSION
- Parties consenting to the transaction
- Execution (signatures) of the parties. 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.

At this point it is worthy of note that even if it is a family land (omonile) but you bought it from an individual who bought it from a family, you are not to draft your deed as though you bought it directly from the family. I had a client who bought the property on behalf of her brother (in the name of a company) and I was forced to draft it as though they bought it directly from the family. Now the family is asking for N400k to sign. And tomorrow they could say they didn’t have any transaction with the buyer and they would be right.
If your transaction involved an illiterate (usually a foreigner [non-english] or a family land because the head of the family might not be able to read and write in English) a Magistrate or Notary public is meant to sign.

5. ENDORSEMENT FOR GOVERNOR’S CONSENT
I have seen some deed of assignment that doesn’t include a column for the Governor or a Representative 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.
Sec. 22 Land Use Act provides:
[center]“It shall not be lawful for the holder of a statutory right of occupancy granted by the Governor to alienate his right of occupancy or any part thereof by assignment, mortgage, transfer of possession, sublease or otherwise howsoever without the consent of the Governor first had and obtained.
Sec. 22(2): The Governor when giving his consent to an assignment, mortgage or sublease may require the holder of a statutory right of occupancy to submit an instrument (deed of assignment, deed of legal mortgage, deed of lease, etc) executed in evidence of the assignment, mortgage or sublease and the holder shall when so required deliver the said instrument to the Governor in order that the consent given by the Governor under subsection(1) of this section may be signified by endorsement thereon.
[/center][/i][b][/b]

Words in parenthesis are mine.

With the above provisions, for your deed to be valid, there must be words at the end of your deed to the effect that the consent of the state Governor has been obtained. The practice is to draft it in the following words:

[center]I CONSENT TO THE TRANSACTION CONTAINED IN THIS DEED

DATED THIS ______ DAY OF _________________ 20---


______________________________________________
HON. ATTORNEY GENERAL & COMMISSIONER FOR JUSTICE
FOR: THE EXECUTIVE GOVERNOR OF ABC STATE
[/center]
(or something similar to the above)

I drafted a deed of assignment for a client who (claimed she was a lawyer but I guessed not into property or probably didn’t practice at all) and wanted to register to it. She claimed that the amount we agreed include me registering it. I told her registering the deed would attract a separate fee and that you cant register it without apply for consent and ultimately c of o since there was no previous title (no C of O). She argued all sort and she didn’t know I was dishonest to that extent and all those talks…you know na. She claimed I was trying to collect more money from her and that it is possible to register the deed without applying for consent or C of O. I later referred her to the provision of the law that stipulates that consent must be obtained before registration. It is usually in this order – CSR – CONSENT, STAMPING & REGISTRATION.
Sec 26 (1-3) Land Registration Law 2015, Lagos State provides:
[i](1) Any holder in possession of any registrable document shall register it within sixty (60) days after obtaining the Governor’s consent where applicable. ….
(2) A sublease under three (3) years does not require registration
(3) Any succession to land under a Will or on intestacy or insolvency does not require the Governor’s consent but must be registered on production of a certified true copy of the Grant or Letter of Administration.
[b][/b][center][/center]

From the above, I believe we can deduce that you cant register your deed without Governor’s consent. It is only if you got the land by Will that you can.

6. Finally, Franking
It is the requirement of the law that the name and address of the lawyer that prepared the deed must be endorsed on the document.
And least this one better na, make we take get some referrals.
I hope with the above I have been able to explain to some extent why a deed is necessary for your land transactions and how to ensure that your lawyer properly drafts your deed and doesn’t just dump wordings on a paper for you. Sometimes, except you actually transact with the lawyer in person, your deed might not have been prepared by a lawyer and there could be repercussion
There is this friend of mine who bought a land at Lusada, Ogun state. He told me that the agent who closed the deal told him he could get his deed done for him for 5%. He claimed his sister is a lawyer. I told him that might not be true and that most likely it would be copy and paste job.
You might get away with copy and paste job but it is better you meet with a lawyer, explain the transactions involved or better still include him in the transaction and he would know how to draft your deed properly for you. The reason is many buyers of land especially family land think that as long as it is a family land, then the deed must be between them and the family even though the transaction was between and individual who bought from the family and subsequently sold to him. By law, you had no transaction with the family. For that kind of transaction, the practice is that the Recital (explained under Introduction above) would contain words evidencing same. And in your schedule (usually under the miscellaneous part), reference would also be made to the family receipt the seller got from the family representatives.

For more info, please visit http://mcadams-consulting.com/blog/

Consult a lawyer before purchasing that property


[/quote]
Re: Deed Of Assignment And What You Should Look Out For by Norrah(f): 4:25pm On Feb 19, 2019
Plots of land, properties are available for sale at Casavilla Estate, Magboro, Ogun State. Magboro is located off Lagos/Ibadan Expressway, along Berger, Arepo, Mowe, Ibafo axis.

Plots at Casavilla Estate have a global C of O, Deed of Assignment, approved survey and estate lay out plan; and Deed of Contract.
Each plot costs Three Million naira (outright payment only). No extra charges. Price covers survey and development levy.

CASAVILLA ESTATE, is a developing 50-Acre Residential Estate located along Gasline road, Magboro behind Mountain of Fire and Miracle Ministries, Magboro town, Ogun state. It is a twenty-five minutes straight drive from the Central Business District Alausa, Ikeja, and five minutes’ drive from Akute town via the proposed AKUTE – MAGBORO road.

On-going infrastructure development: Electricity, Good Road Network, Perimeter Fencing, Drainage System, Recreation Centre.

Why Should You Buy into CASAVILLA ESTATE?

1. CASAVILLA residential plots are offered at discount rate to all buyers (minimum of 40% discount compared to other residential estates within the environment).

2. CASAVILLA ESTATE is covered with global Certificate of Occupancy. A copy will be made available to you for verification if requested.

3. No extra charges apply. Cost of land includes survey and development levy

For more enquiries and to schedule inspection please call/Whatsapp 09080702018.

Re: Deed Of Assignment And What You Should Look Out For by elengine: 10:19pm On Jun 19, 2019
TheLawyer:


Do you actually mean a land document?if yes, it's better a lawyer does it. But if you mean land verification, Yes, we can do that. It involves many things depending on the property in question. A lawyer is better to do your verification because of the many things to check during verification / investigation. And most times we work with surveyors. You cant do without a surveyor when it comes to land transaction.

My client was interested in a property. so he showed me the documents and sought for my advice. After going through it i advised him not to purchase it and he was surprised. he expected me to do some Jack Bauer stunt before coming into conclusion. He asked why I submitted so.

After going through the document I realized that it revealed that the original was missing and also, the so called photocopied deed of assignment was not even signed. I told him to run away with his hard earned money


Hello professionals in the house. I bought a land from Mr A who bought it from family B many years ago. Now I have done one deed of assignment with Mr A and I have decided to do another one with family B but I want to also ask Mr A to witness the deed am doing with family B. What is the legal implications of this and is it okay for Mr A to witness the deed
Re: Deed Of Assignment And What You Should Look Out For by TGM2015: 5:54pm On Sep 10, 2019
TheLawyer:


Where is your land located? Have you done survey? If you have, tell your lawyer or consult another surveyor that you want to apply for land information certificate. Also inform the surveyor that did your survey that you intend applying for land information certificate. I bet, it will begin to reveal if you were given a fake survey plan.

I had a client who i was applying for C of O for. I met the surveyor on the site so am quite aware that he took the coordinates. In no time we were given our survey plan. But the gbege started when we applied for Land Information Certificate. To cut the long story short, the beacon number that was allocated to us (our survey plan) was given to another person unknown to us. Thank God we applied for Land Information Certificate(LIC). At the office of the surveyor General, we were told they were yet to lodge the red copy. We asked the surveyor for proof of lodging the red copy. They posted us for months. After much threat to take action, one of them confided in me and told me that the beacon numbers on our survey plan has been used for another to avoid it expiring. So they had to prepare another survey plan for us.

Another funny part is that the so called surveyor that came to take the coordinates was not really a surveyor but a trained journalist (he told me this himself). So some quack surveyors are not really surveyors. they just learned how to do the job (I stand to be corrected). These are the ones that spoil the Survey profession.

For the stamp duty i think he wants you to perfect the deed which is what I explained in my post as CSR (Consent, Stamping & Registration). Before you can stamp, you will apply for consent and this will only be given if you had a previous title like C of O or a state or fed govt grant / allocation. If its a family land (omonile land) and its in lagos or Ogun, Consent will only be given by fully applying for C of O.
I hope that helps.

Alternatively, you can reach me through the number on my signature
Good day,

Please I need you to elaborate on the Stamp Duty things more, particularly as it relates to Ogun State and family selling to individuals.

1. Are there any documents that must be presented?
2. What are the procedures in applying for stamp duty?
3. The appropriate office to go, Federal or State Tax Office?
4. What will they be requesting for to stamp Deed of Assignment?
5. Will the stamp be on ONLY the original or it will include all copies?
6. It is save not to have sign the deed before taking it for stamping? Etc....

Please just give all that you know and advise, that you.
Re: Deed Of Assignment And What You Should Look Out For by Amoj4682: 4:28am On Oct 27, 2019
[quote author=elengine post=75752823]Many thanks for this. Please I have a land that falls within arepo wawa area in Ogun state. I bought the land from someone that originally bought it from omonile. I.e the family who owns the land. My question is which names will include in the deed of assignment? Is it head of family and other excos members or the name of the person that sold it to me. Thanks

Before I start explaining what a deed is, I will like to stress the fact that there are some big big grammar when it comes to the legal profession. But I will try my best to explain in lay terms. Some words which must be used will be explained a little bit in parenthesis. So let’s dive in …

A Deed is a document in writing which provides information about some terms, conditions or facts agreed to between persons on good quality paper, vellum or like materials and which is signed, sealed and delivered.

The term deed is generally used to describe an instrument (legal document) which title, right or interest in land is transferred from one person(s) to another or to create an obligation binding on one or more persons. Alternatively, it can be used to confirm some acts by which an interest, right or title in land has already passed. In other words, it is not only when a sale transaction occurs that a deed is required. If you were given a plot of land for free and you have taken and currently enjoying possession (using the land) you are required to draft a deed (deed of gift).

From the above definition / explanation of a deed, when a transaction relates to a landed property, a deed must be drafted to properly transfer right or interest in that property. With that in mind, a receipt evidencing a sale transaction is not enough to claim a right to a landed property. In the same vein, a contract of sale of land is not enough to transfer title or interest in land. It is just a document evidencing your transaction which does not totally transfer title because of its contents or form.

An important point to note is that if a document in writing is to constitute a deed; it must be signed or marked (if an illiterate), sealed and delivered. The writing expresses the content of the bargain between the parties to it. Signing indicates the person(s) that are to bound by it, sealing testifies to the consent of the parties to be bound by the bargain in the deed. Delivery gives it its binding effects.

WHEN IS A DEED REQUIRED / CERTAIN DOCUMENTS THAT MUST BE BY DEED

1. The transfer of legal interest in land. All conveyances of land or any interest in land are void for the purpose of creating a legal estate unless made by deed. – Deed of Assignment
2. A power conferring authority on a person/agent to execute a deed. The power itself must be by deed. – Power of Attorney
3. A conveyance or transfer of interest in land without consideration (cash). – Deed of gift
4. A lease for a term above 3 years. – Deed of Lease/Sub-lease. Generally, a rent above 3 years.
5. A legal mortgage. – Deed of Legal Mortgage

CONTENTS / WHAT YOU SHOULD LOOK OUT FOR TO ENSURE YOUR DEED IS PROPERLY DRAFTED

1. THE INTRODUCTION
This should contain
column for date. It is should not be dated because if you don’t stamp it within 60 days, you will attract penalty for every day in default after the 60days.
The parties and their addresses
Recital – a brief summary of how the owner of the land became the owner and his intention to transfer his rights, etc (sell) and how the buyer has agreed to purchase the land

2. THE SECOND PART – USUALLY THE OPERATIVE PART
This should contain
- The consideration (cost of the land)
- Words indicating that the buyer (assignee) has paid the amount and the seller (assignor) has received same from you
- The description of the property
- If its registered (c of o) and the details of the c of o. with this content you can verify if the c of o is genuine. So if you bought a land and the seller claimed they have c of o / global c of o, your deed should contain something like … Certificate of Occupancy No. 12345 dated 07/05/2017 and registered as 12/34/5678 in the Lands Registry, Alausa, Lagos state

3. ANY MISCELLANEOUS / TERMS AGREED BY THE PARTIES

4. CONCLUSION
- Parties consenting to the transaction
- Execution (signatures) of the parties. 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.

At this point it is worthy of note that even if it is a family land (omonile) but you bought it from an individual who bought it from a family, you are not to draft your deed as though you bought it directly from the family. I had a client who bought the property on behalf of her brother (in the name of a company) and I was forced to draft it as though they bought it directly from the family. Now the family is asking for N400k to sign. And tomorrow they could say they didn’t have any transaction with the buyer and they would be right.
If your transaction involved an illiterate (usually a foreigner [non-english] or a family land because the head of the family might not be able to read and write in English) a Magistrate or Notary public is meant to sign.

5. ENDORSEMENT FOR GOVERNOR’S CONSENT
I have seen some deed of assignment that doesn’t include a column for the Governor or a Representative 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.
Sec. 22 Land Use Act provides:
[center]“It shall not be lawful for the holder of a statutory right of occupancy granted by the Governor to alienate his right of occupancy or any part thereof by assignment, mortgage, transfer of possession, sublease or otherwise howsoever without the consent of the Governor first had and obtained.
Sec. 22(2): The Governor when giving his consent to an assignment, mortgage or sublease may require the holder of a statutory right of occupancy to submit an instrument (deed of assignment, deed of legal mortgage, deed of lease, etc) executed in evidence of the assignment, mortgage or sublease and the holder shall when so required deliver the said instrument to the Governor in order that the consent given by the Governor under subsection(1) of this section may be signified by endorsement thereon.
[/center][/i][b][/b]

Words in parenthesis are mine.

With the above provisions, for your deed to be valid, there must be words at the end of your deed to the effect that the consent of the state Governor has been obtained. The practice is to draft it in the following words:

[center]I CONSENT TO THE TRANSACTION CONTAINED IN THIS DEED

DATED THIS ______ DAY OF _________________ 20---


______________________________________________
HON. ATTORNEY GENERAL & COMMISSIONER FOR JUSTICE
FOR: THE EXECUTIVE GOVERNOR OF ABC STATE
[/center]
(or something similar to the above)

I drafted a deed of assignment for a client who (claimed she was a lawyer but I guessed not into property or probably didn’t practice at all) and wanted to register to it. She claimed that the amount we agreed include me registering it. I told her registering the deed would attract a separate fee and that you cant register it without apply for consent and ultimately c of o since there was no previous title (no C of O). She argued all sort and she didn’t know I was dishonest to that extent and all those talks…you know na. She claimed I was trying to collect more money from her and that it is possible to register the deed without applying for consent or C of O. I later referred her to the provision of the law that stipulates that consent must be obtained before registration. It is usually in this order – CSR – CONSENT, STAMPING & REGISTRATION.
Sec 26 (1-3) Land Registration Law 2015, Lagos State provides:
[i](1) Any holder in possession of any registrable document shall register it within sixty (60) days after obtaining the Governor’s consent where applicable. ….
(2) A sublease under three (3) years does not require registration
(3) Any succession to land under a Will or on intestacy or insolvency does not require the Governor’s consent but must be registered on production of a certified true copy of the Grant or Letter of Administration.
[b][/b][center][/center]

From the above, I believe we can deduce that you cant register your deed without Governor’s consent. It is only if you got the land by Will that you can.

6. Finally, Franking
It is the requirement of the law that the name and address of the lawyer that prepared the deed must be endorsed on the document.
And least this one better na, make we take get some referrals.
I hope with the above I have been able to explain to some extent why a deed is necessary for your land transactions and how to ensure that your lawyer properly drafts your deed and doesn’t just dump wordings on a paper for you. Sometimes, except you actually transact with the lawyer in person, your deed might not have been prepared by a lawyer and there could be repercussion
There is this friend of mine who bought a land at Lusada, Ogun state. He told me that the agent who closed the deal told him he could get his deed done for him for 5%. He claimed his sister is a lawyer. I told him that might not be true and that most likely it would be copy and paste job.
You might get away with copy and paste job but it is better you meet with a lawyer, explain the transactions involved or better still include him in the transaction and he would know how to draft your deed properly for you. The reason is many buyers of land especially family land think that as long as it is a family land, then the deed must be between them and the family even though the transaction was between and individual who bought from the family and subsequently sold to him. By law, you had no transaction with the family. For that kind of transaction, the practice is that the Recital (explained under Introduction above) would contain words evidencing same. And in your schedule (usually under the miscellaneous part), reference would also be made to the family receipt the seller got from the family representatives.

For more info, please visit http://mcadams-consulting.com/blog/

Consult a lawyer before purchasing that property


[/quote


If there are 3 signatories and 1 is not around can the remaining 2 sign the deed of assignment legally

(1) (2) (3) (Reply)

795 Houses To Be Demolished For Lagos Fourth Mainland Bridge / Flood Takes Over People's Properties In Rivers State (Photos) / Family Of Female Corper Trapped In Collapsed Ikoyi Building Prays She Is Alive

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 113
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.