DEED OF ASSIGNMENT AS A MEANS OF TRANSFER OF REAL PROPERTY IN NIGERIA, ISSUES, CHALLENGES AND PROSPECTS

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DEED OF ASSIGNMENT AS A MEANS OF TRANSFER OF REAL PROPERTY IN NIGERIA, ISSUES, CHALLENGES AND PROSPECTS

 

CHAPTER ONE

GENERAL INTRODUCTION
1.1 Introduction

There can be no society without law (ubi societa ibi jus):- there are rules that are designed to guide behaviour and decisions of individuals either oral (tradition) or written such as constitution, parliamentary bills, legislative orders, executive ( executive ) orders court decisions etc, are intended to regulate and control human activities and or transactions. Some contracts, covenants, agreements, appointments, conveyances are required in law to be by deeds (written form and formally).
A deed of assignment can be said to be a document or agreement in which an assignor (the transferor) promises to, from the date of assignment or any date provided in the document assign his ownership in that property to the assignee ( transferee). The deed of assignment stipulates the type of right that has been assigned and usually, in the case of the sale and purchase of immovable property, full rights are assigned. It also documents the flow of ownership from the owner to the buyer and subsequent purchasers, where applicable. So, if a property has changed hands, the deed of assignment in the hand of the last owner would have a recital, usually on the last page which takes about history of the property changing hands from „A‟ to „B‟ up to the current owner .
It therefore goes without saying that deed of assignment is a very important document which should be kept in a very safe and secure place because they are legal document and getting new copies, if they are lost or stolen can be painful and hard. Many people made many copies of title deeds in case of lost, damage or destruction so that they have temporary measure on ground. Because title deeds can be used to initiate the transfer of ownership, it is good to keep such deeds in safe places and location so that they cannot be stolen .

1.2 Statement of the Problem

Over the years, there have been much reliance on customary land law regime, judicial precedents and legal instruments in making decisions on real property related issues without taking cognizance of the legal drafting and conveyancing techniques most needed in the design and construction of document involved (deeds of assignment) and other challenges created by statutes, particularly with the promulgation of the Land Use Act in 1978, and other related statutes with respect to real property transaction in Nigeria .
As a result of the much reliance placed on oral tradition and testimonies without compliance with the requirement of the statute both client and draftsmen do run into problems in the course of effecting transaction in land. Mere agreement of sale of land is never an instrument of transfer which most clients do not know.
The deed of assignment which is the instrument used in the transfer of interest in land must be stamped and registered having obtained the required Governor‟s consent. The procedure is never swift and easy due to challenges bedevilling the system of land administration in Nigeria It is in view of this, that this study seeks to examine deed of assignment as an instrument of transfer of real property in Nigeria. And to further consider and expose the issues, challenges and prospects.

1.3 Objectives of the Study

This study on deed of assignment as a means of transfer of real property in Nigeria issues challenges and prospects shall have the following objectives:-
1. To broaden the understanding of property buyers and owners on the need to pay close attention to the details of the contents of the deed of assignment on the property they own
(possess) or purchases with the view of minimizing litigation.
2. To identify the various means of acquiring real property in Nigeria.
3. To discuss the nature of deed of assignment with the consideration of the important features (of deed of assignment).
4. To examine the issues and challenges in perfection of deed of assignment.
5. To offer recommendations that can guarantee the security of titles or property.
6. To add to the available literature in the area of real property law transaction in Nigeria, particularly on deed of assignment.

 

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DEED OF ASSIGNMENT AS A MEANS OF TRANSFER OF REAL PROPERTY IN NIGERIA, ISSUES, CHALLENGES AND PROSPECTS

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