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