Deed of Assignment - Template, Sample Form to Fill out Pro · NG-law

DEED OF ASSIGNMENT

THIS DEED OF ASSIGNMENT is made this ________.

BETWEEN

________, of the following address:

________

hereinafter referred to as the ("Assignor" which expression shall where the context so admits include its heirs, personal representatives, successors-in-title and assigns) of the first part;

AND

________, of the following address:

________

hereinafter referred to as the ("Assignee" which expression shall where the context so admits include its heirs, personal representatives, successors-in-title and assigns) of the other part.

The Assignor and the Assignee are hereinafter collectively referred to as the "Parties" and individually as a "Party".

WHEREAS:

A. The Assignor is the holder of a statutory/customary right of occupancy and the beneficial owner of all that parcel of land more particularly described as follows (the "Property"):

________

B. The said Property is held by the Assignor for the unexpired residue of a term of ________ years granted under the right of occupancy, with effect from ________.

C. The Assignor derived and is seised of the legal estate, title and interest in the Property by virtue of the following root of title:

________

which title is evidenced by Certificate of Occupancy/Deed registered as No. ________ at the Lands Registry, ________.

D. The Assignor has agreed to assign, sell and transfer the entire Property to the Assignee, together with the entire right, title and interest in the unexpired residue of the Assignor's term under the said right of occupancy, free from all encumbrances, for the consideration and upon the terms set out in this Deed.

NOW THIS DEED WITNESSES AS FOLLOWS:

1. CONSIDERATION AND ASSIGNMENT

1.1 In consideration of the sum of \u20a6________ (________) paid by the Assignee to the Assignor on or before the execution of this Deed (the receipt of which sum the Assignor hereby acknowledges and from all liability for which the Assignor hereby releases and discharges the Assignee), the Assignor as beneficial owner hereby ASSIGNS, TRANSFERS and CONVEYS unto the Assignee ALL THAT the Property described in Recital A above and in the Schedule hereto, TOGETHER WITH all rights, easements, appurtenances, fixtures and privileges attaching thereto.

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2. COVENANTS, WARRANTIES AND REPRESENTATIONS OF THE ASSIGNOR

The Assignor hereby represents, warrants and covenants with the Assignee as follows:

(I) that the Property is free and clear of any mortgage, charge, lien, debt, caveat or other encumbrance whatsoever, and that no part of the Property is subject to any encumbrance, adverse claim, litigation, government acquisition or revocation;

(II) that the Assignor has good, valid and marketable title to the Property, and the Assignor hereby indemnifies and shall keep the Assignee fully indemnified against all costs, expenses, actions, claims, demands and proceedings that may arise by reason of any defect in the title of the Assignor;

(III) that the Assignee shall have quiet and peaceable possession and enjoyment of the Property and its appurtenances with effect from the date of this Deed, free from any interruption or disturbance by the Assignor or any person lawfully claiming through, under or in trust for the Assignor;

(IV) to deliver to the Assignee upon execution all original title documents pertaining to the Property which are in the possession or power of the Assignor, or which may subsequently come into the possession of the Assignor;

(V) that the Assignor has the full right, power and absolute authority to assign and transfer the Property to the Assignee in the manner contained in this Deed;

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(VII) that the Assignor has paid, or shall on demand pay, all outstanding rates, ground rents, tenement rates, taxes and other outgoings in respect of the Property up to the date of this Deed.

3. COVENANT OF THE ASSIGNEE

3.1 The Assignee covenants to observe and perform the covenants and conditions reserved under the relevant right of occupancy and to indemnify the Assignor against any breach occurring after the date of this Deed.

3.2 The Assignee shall be responsible for the payment of stamp duty, consent fees, registration fees and capital gains tax (where applicable) arising from this transaction, unless otherwise agreed in writing by the Parties.

4. GOVERNOR'S CONSENT

4.1 This Deed is made subject to the consent of the Governor of ________ State (or his duly authorised representative) being first had and obtained in accordance with Sections 22 and 26 of the Land Use Act, and the Parties shall use their best endeavours to procure such consent.

5. STAMPING AND REGISTRATION

5.1 This Deed shall be stamped in accordance with the Stamp Duties Act, Cap. S8, Laws of the Federation of Nigeria 2004, and shall be registered at the appropriate Lands Registry in accordance with the relevant Land Registration/Land Instruments Registration Law of ________ State.

6. GOVERNING LAW

6.1 This Deed shall be governed by and construed in accordance with the laws of the Federal Republic of Nigeria and the applicable laws of ________ State, and the Parties submit to the jurisdiction of the High Court of ________ State.

7. SEVERABILITY

7.1 If any provision of this Deed is held to be invalid or unenforceable, such provision shall be severed and the remaining provisions shall continue in full force and effect.

IN WITNESS OF WHICH the Parties have executed this Deed in the manner hereinafter appearing the day and year first above written.

SIGNED, SEALED AND DELIVERED by the within named Assignor:

___________________________
________

IN THE PRESENCE OF:

Name................................................................................................................

Address.............................................................................................................

Occupation........................................................................................................

Signature..........................................................................................................

SIGNED, SEALED AND DELIVERED by the within named Assignee:

___________________________
________

IN THE PRESENCE OF:

Name................................................................................................................

Address.............................................................................................................

Occupation........................................................................................................

Signature..........................................................................................................

GOVERNOR'S CONSENT

I hereby consent to the transaction contained in this Deed pursuant to Sections 22 and 26 of the Land Use Act, Cap. L5, Laws of the Federation of Nigeria 2004.

Dated this ________ day of ________, ________.

____________________________________

Honourable Commissioner and Attorney-General of Justice
on behalf of the Executive Governor of ________ State

SCHEDULE

DESCRIPTION OF PROPERTY CONVEYED UNDER THIS DEED

All that parcel of land described as follows:

________

Together with the survey plan numbered ________ drawn by ________, licensed surveyor.

THIS DEED WAS PREPARED BY:

________
________
________