Anatomy of a deed

In property law, the aim is not to try to remember everything and make sure it gets mentioned at some point; there is an order to things. Also there is an importance attached to each part and a vital piece of information it conveys.

Side note: imagine having the above clause in a deed, well nothing is impossible.

Before we go on perhaps we should ponder on what a deed really is and why it is so damn important. A deed is simply put, a legal document that says it is a deed backed up by some necessary actions (such as perfection, which I won’t yet bother you with). A deed is like when you tell someone you can take my word for it. It stands on its own and needs no consideration before it is validly enforced. There is no special paper on which a deed must be written. It is compulsory for most land transactions to be made by deed and they can be used for all kinds of transactions. Voila, you have an idea of it now:

Commencement: The beginning of the deed. Where you have the SPECIE OF DEED, THE DATE, and NAMES OF THE PARTIES AND THEIR ADDRESSES

THIS DEED OF ASSIGNMENT*** MADE (IS)* THE _ DAY OF_ 2017** BETWEEN ________ OF ___________ (Assignor) *** of the one/first*** part and _________ OF _________ (Assignee) *** of the other/second*** part


*Never put an IS, if after the commencement there won’t be a recital

**It is advisable to leave the date blank because there are deadlines to meet when registering and stamping the deed.

***This is just a sample, it could be a lease (parties would be lessor and lessee respectively); could be a mortgage (mortgagor and mortgagee) and so on

**** This must be uniform, if you use one, you must use other. It is advisable to use first, second, third part because there may be 3 parties to a deed.


WHEREAS

This is a recital and it is usually narrative or descriptive. There are various implications. It is not compulsory but it is advisable. Remember, no recital, no is.

Testatum: NOW THIS DEED WITNESSES AS FOLLOWS

Consideration: IN CONSIDERATION OF THE SUM OF _________

Receipt Clause: This clause does away with the need for a physical receipt. It is most likely that money would have exchanged hands at the time the deed is being executed. RECEIPT OF WHICH THE ASSIGNOR HEREBY ACKNOWLEDGES

Covenant of title: This is to show the capacity in which the assignor (or any other party, depending on the type of deed) is giving out the title. THE ASSIGNOR AS BENEFICIAL OWNER

Words of Grant: This word must align with the commencement. So since we started with Deed of Assignment we say ASSIGNS

Operative word: This is the operative word because it captures the entirety of the subject matter ALL THAT

Parcel Clause: This describes the property in question in detail. Precision is key, if it is one room in a 2 –bedroom duplex, you must state Room No x. 2 bedroom flat situate at no 10 ADEOLA HOPEWELL STREET, VICTORIA ISLAND LAGOS TOGETHER WITH ITS APPURTENANCES, REGISTERED AS NO_ PAGE_ VOLUME_ OF THE LAGOS STATE LANDS REGISTRY.

Habendum: This states the right transferred TO HOLD UNTO THE ASSIGNEE for the term unexpired in the said right of occupancy subject to the provisions of the LAND USE ACT CAP L5 LFN 2004

Miscellaneous: These are the extra extras, they are not compulsory but you can add specific things you want put down in writing e.g. undertaking for safe custody, acknowledgment clause, indemnity clause, etc.

Testimonium: This ushers in the signatures or seals of the parties, there are other formats but this is the best because the other ones do not take into consideration whether any party is a company. IN WITNESS OF WHICH THE PARTIES HAVE EXECUTED THIS DEED IN THE MANNER BELOW THE DAY AND YEAR FIRST ABOVE WRITTEN

Execution: This is done for each party. So it varies depending on whether the party is a human being or a company

INDIVIDUALS: SIGNED SEALED AND DELIVERED BY THE WITHIN NAMED ASSIGNOR

COMPANIES: THE COMMON SEAL OF ABC NIG LTD IS HEREBY AFFIXED TO THIS DEED AND IT WAS DELIVERED IN THE PRESENCE OF {either two directors or one director + one secretary will sign here}

Attestation: This is where the witnesses will sign. As stated up here for a company, it must be either two directors or a director and the secretary. One witness is okay for each party. The person’s name address occupation and signature are usually indicated IN THE PRESENCE OF: NAME:___ ADDRESS:___ OCCUPATION:___ SIGNATURE:____

That’s it guys.

Let’s draft a deed of assignment for a transaction between 123lawblog Ltd and David John of 12 Bariga Road, Ogudu Lagos. 123lawblog Ltd is selling their land located at No 1 Linda Ikeji Lane, Banana Island, Lagos with certificate of occupancy No 12/33/2011D. The property is a twelve Bedroom duplex. It is priced at 600 Million Naira (Yels Baby Banana Island things).You can guide yourself by the red coloured words.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

THIS DEED OF ASSIGNMENT MADE THE _ DAY OF_ 2017

BETWEEN

123LAWBLOG NIG LTD, A BODY REGISTERED UNDER PART A OF THE COMPANIES AND ALLIED MATTERS ACT CAP C20 LFN 2004 having its registered office at__________________(Assignor) of the first part

And

David John OF 12 Bariga Road, Ogudu Lagos (Assignee) of the second part

NOW THIS DEED WITNESSES AS FOLLOWS

IN CONSIDERATION OF THE SUM OF 600 Million Naira (Six Hundred Million Naira) Only RECEIPT OF WHICH THE ASSIGNOR HEREBY ACKNOWLEDGES

THE Assignor as BENEFICIAL OWNER ASSIGNS ALL THAT twelve Bedroom duplex situate at No 1 Linda Ikeji Lane, Banana Island, Lagos together with its appurtenances and REGISTERED AS NO 12 PAGE 33 VOLUME 2011D OF THE LAGOS STATE LANDS REGISTRY

…(Miscellaneous; the question doesn’t give instructions on this so I will remain mute)

IN WITNESS OF WHICH THE PARTIES HAVE EXECUTED THIS DEED IN THE MANNER BELOW THE DAY AND YEAR FIRST ABOVE WRITTEN

SIGNED SEALED AND DELIVERED BY THE WITHIN NAMED ASSIGNOR

____________________

Assignor

THE COMMON SEAL OF ABC NIG LTD IS HEREBY AFFIXED TO THIS DEED AND IT WAS DELIVERED IN THE PRESENCE OF

IN THE PRESENCE OF:

NAME: ___

ADDRESS: ___

OCCUPATION: ___

SIGNATURE: ____

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