Deed of Assignment as a Means of Transfer of Real Property in Nigeria, Issues, Challenges and Prospects

Deed of Assignment as a Means of Transfer of Real Property in Nigeria, Issues, Challenges, and Prospects. 

ABSTRACT  

Acquisition of real property in Nigeria is a right enshrined under the constitution of Nigeria 1999 (as amended). Transaction inland formed part of the economic sector of the country. Transfer of an interest in land or acquisition of real property can be through a state grant, gift, purchase (conveyance), inheritance (probate), and allotment of family land. Of all these means of acquiring real property in Nigeria, only purchase and gift are demanded to be by deed.

This factor gravel affects the titles acquired by customary grant, probate, state grant, and allotment of family land. As a legal requirement transfer of an interest in land must with up with the requirement of the governor‟s consent o the state where the land is situated or the local government authority within the jurisdiction. The law also requires payment of stamp duties and the registration of the instrument (deed of assignment).

Deed of assignment is the instrument that transfers interest in land from one party to another. The instrument contains the date, parties, and terms of sale. It must be executed by the two parties and attested by witnesses. The law specifically requires that a deed must be signed, sealed, and delivered for it to be valid. The transfer of an interest in land is governed by many laws which differ from state to state of the federation.

are also various steps to be taken in the registration of the title deed. This renders the transaction difficult and cumbersome. This research examined the means of acquiring real property in Nigeria, the deed of assignment in particular, and the challenges posed by the bureaucracy in the registration of title deeds. 

TABLE OF CONTENTS

Title page – – – – – – – – – – i
Declaration – – – – – – – – – – ii
Certification – – – – – – – – – – iii
Dedication – – – – – – – – – – iv
Acknowledgment – – – – – – – – – v
Abstract – – – – – – – – – – vi
Table of Contents – – – – – – – – – vii
List of Cases – – – – – – – – – – ix
List of Statutes – – – – – – – – – x

CHAPTER ONE: GENERAL INTRODUCTION
1.1 Introduction – – – – – – – – – 1
1.2 Statement of the Problem – – – – – – – 2
1.3 Objectives of the Study – – – – – – – 3
1.4 Justification – – – – – – – – – 3
1.5 Scope of Study – – – – – – – – 4
1.6 Research Methodology – – – – – – – 4
1.7 Literature Review – – – – – – – – 4
1.8 Organizational Layout – – – – – – – 7

CHAPTER TWO: MODERN MEANS OF ACQUIRING REAL PROPERTY IN
NIGERIA
2.1 Introduction – – – – – – – – – 9
2.2 What is Real Property? – – – – – – – 9
2.3.1 State Grant (Right of Occupancy) – – – – – – 10
2.3.2 Gift – – – – – – – – – – 11
2.3.3 Purchase (Sale) – – – – – – – – 13
2.3.4 Inheritance (Probate) – – – – – – – – 28
2.3.5 Family Land ( That is Allotment of Family Land) – – – – 30

CHAPTER THREE: NATURE OF DEED ASSIGNMENT
3.1 Introduction – – – – – – – – – 33
3.2 Meaning of Deed of Assignment – – – – – – 34
3.3 Main Features of Deed of Assignment – – – – – 46
3.3.1 Introductory Part – – – – – – – – 47
3.3.2 Operative Part – – – – – – – – – 49
3.3.3 Miscellaneous Part – – – – – – – – 50
3.3.4 Concluding Part – – – – – – – – 51

CHAPTER FOUR: ISSUES AND CHALLENGES IN PERFECTION OF DEED OF
ASSIGNMENT
4.1 Introduction – – – – – – – – – 53
4.2 Application Requirement of Governor‟s Consent under the Land Use Act – 53
4.3 Payment of Stamp Duties – – – – – – – 57
4.4 Registration of Deeds of Assignment – – – – – – 59
4.5 The Challenges with Deed of Assignment as a Means of Transfer of Real
Property in Nigeria – – – – – – – – 68

CHAPTER FIVE: SUMMARY AND CONCLUSION
5.1 Summary – – – – – – – – – 71
5.2 Conclusion – – – – – – – – – 72
5.3 Recommendations – – – – – – – – 74

INTRODUCTION  

There can be no society without law (ubi societa ibi jus):- there are rules that are designed to guide behavior 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 the assignment or any data 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 the 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 that should be kept in a very safe and secure place because they are legal documents, and getting new copies if they are lost or stolen can be painful and hard.

REFERENCES

www.jsor.org/pass.accessed on 10th February 2014; Section( 77) of Property Conveyancing law cap.
100 Laws of Western Region of Nigeria 1959.
www.Wisequeek.com/what is title deed. htm accessed on 10th February, 2014; see also Dadem Y.Y., Property
Law Practice in Nigeria; University of Jos Press Limited,(2012) 2nd ed., page 78
www.realestate.com; accessed on 10th February, 2014.
Land Use Act 978 Cap. 202 Laws of the Federation of Nigeria, 1990
Odgers D.G. ,Construction of Deed and Statutes ; Sweet & Maxwell, London, 1967 p.1
Daddem Y.Y. op. cit p. 74-75.
United Bank for Africa Plc v. Jimmy King (Nig.) Ltd. (2008) All FWLR, pt. 429, p. 696.
Imhanobe S.O: Understanding Legal D rafting and Conveyancing Sylvester Imhamnobe Legal Research Limited,
Abuja 2002.
Dadem Y.Y , op. cit p. 70-74; Section 84 Evidence Act.
Adubi, E.O., Drafting Conveyances and Wills, Light House, Pub. Co. Ltd., Lagos (1995).
Section 21 Land Instruments Registration Law of Kaduna State.
Akinduro v. Alaya (2007) All FWLR part 301, p. 1653; Atufe v. Oghomienor (2004) All FWLR pt. 224 & 206.

StudentsandScholarship Team.