There are several advantages to registering a deed of assignment, they include:
- It shows that the title is free of entanglements.
- It is difficult to plead an instrument that has not been registered since it is inadmissible in evidence.
- Where there are competing instruments registered, it gives priority to the first in time
The steps for registration are as follows:
Following the execution of the Deed of Assignment, the Governor must properly register and approve it in compliance with the Land Use Act, LFN 2004.
In essence, after parties to a property transaction execute a deed of assignment, the steps for registering the executed deed of assignment in Nigerian jurisdiction entail three primary steps: Obtaining
- Obtain A Governor’s Consent
When they already registered the purchased land in the seller’s name at the registry. They should apply with the landform 1c accessible at the LANS registry. The purchaser and the vendor should sign the form.
- Pay Stamp Duties
Following the Governor’s approval, the solicitor must guarantee that they pay for the transaction’s stamp duty. They recommend that consent be obtained prior to the payment of stamp duties, as you cannot recover the duties you paid if the Governor rejects consent. They levy stamp duties on a variety of transactions, one of which is the transfer of a property interest.
- Register The Deed
A deed of assignment or conveyance that alienates a land interest is important to register. This is because it is a document that affects land in which one party confers or extinguishes a right or title interest in land in favor of another party.
The Deed of Assignment, otherwise known as the Deed of Conveyancing in other states in Nigeria is the document transferring the sale of land or property from one buyer to another. The names of the parties to a Deed of Assignment are Assignor (the Seller) and Assignee (the purchaser).
When a deed of assignment has been duly executed among parties to a land transaction, it must be duly registered with the state government where the land is located. The registration of land’s title shall commence with the obtainment of the Governor’s Consent with the provisions of the Land Use Act.