Deed of Conveyance in Nigeria: Everything You Need to Know

The right documentation can make or break a property transaction and in Nigeria’s real estate market, one such document is the Deed of conveyance, which ensures that your property ownership is legally transferred from the seller to you the buyer.

In this blog post, we will discuss its role, importance, and how it differs from other vital documents like deed of assignment with a sample reference to help you navigate buying your next property.

What Is Deed of Conveyance?

A Deed of Conveyance in Nigeria is a vital legal document used to transfer ownership of a property or land from the seller to the buyer. It serves as a proof of evidence of the transaction that a property sale has been completed, and clearly states the rights and obligations of the two parties involved.

This document ensures that the buyer legally owns the real property and helps prevent disputes over ownership.

If you’re looking to explore investment opportunities in Nigeria, understanding property laws and securing proper documentation like a Deed of Conveyance is critical.

Importance of a Deed of Conveyance In Real Estate Transactions

• Establishes Legal Ownership: A buyer cannot prove their legal ownership of a property in the absence of a deed of conveyance document. The presence of this document serves as a safeguard against fraudulent sales and property dispute.
• Helps to Facilitate Future Transactions: It helps you sell or transfer your property later if the need arise. Future buyers who have prior knowledge about this document will always demand to see it as proof that the current owner legitimately acquired and owns the property.
• Prevents Legal Disputes: It helps prevent legal dispute over acquired properties as it clearly states the terms of the property transfer. Both the seller and buyer are aware of the rights, and should there be any case of misunderstandings, the document can easily be referred to.

Difference Between Deed of Conveyance and Deed of Assignment

Deed of Conveyance	Deed of Assignment
Transfers ownership of property in perpetuity (as long as the seller’s interest is valid or for life)	Transfers the seller’s existing rights to the property to the buyer on a lease or title (usually 99 years)
It involves outright sales of property	It involves transfer of existing rights for the remainder of a term
It is an older form of document used before the Land Use Act of 1978	Used for modern day property sales

Process of Obtaining a Deed of Conveyance in Nigeria

Step 1: Consult a Lawyer

Get an experienced and legal professional to ensure the transaction complies with the Nigerian law

Step 2: Verify Property Ownership

You should conduct due diligence to verify the seller’s ownership and ensure the property is not under any form of constraint.

Step 3: Draft the Deed

The lawyer should draft the deed of conveyance and ensure it meets all legal requirements and accurately reflects the sale.

Step 4: Execution & Registration

Both parties should sign the document (buyer and seller), and it should be registered with the government to formalize the agreement and transfer.

After execution and registration, it’s advisable to obtain certified copies of the deed for both parties records as it serves as evidence of ownership.

It’s advisable to work with trusted firms to ensure the transaction is handled professionally. Here’s a list of real estate companies in Lagos that can help you.

Common Mistakes to Avoid

• Poor Conduct of Due Diligence: Failure to conduct proper due diligence like verification of the seller’s ownership can lead to legal complications
• Non Registration of the Deed: Unregistered deed of conveyance are not legally recognized which can lead to disputes in the future. Always ensure the document is verified to avoid distress.
• Avoiding Legal Assistance: Always ensure you work with a legal and qualified real estate lawyer to ensure the document is properly drafted and void of mistakes.

Sample of Deed of Conveyance

DEED OF CONVEYANCE

THIS DEED OF CONVEYANCE is made the ____ day of ____, 2024.

BETWEEN

[Seller’s Full Name and Address] (hereinafter referred to as “the Seller”) of the one part;

AND

[Buyer’s Full Name and Address] (hereinafter referred to as “the Buyer”) of the other part.

WHEREAS

1. The Seller is the legal owner of the property known as [Description of Property].
2. The Buyer has agreed to purchase the property for the sum of [Amount in words and figures].

NOW THIS DEED WITNESSES as follows:

1. The Seller hereby transfers ownership of the property to the Buyer in consideration of the agreed purchase price.
2. The property is transferred free of any encumbrances.
3. This Deed is executed in duplicate, with one part being retained by the Seller and the other by the Buyer.

IN WITNESS WHEREOF, the parties have signed this Deed on the date mentioned above.

Signed:
Seller: __________
Buyer: __________
Witnesses: __________

Conclusion

The Deed of conveyance remains a key document in Nigeria real estate which is essential for transferring ownership of property. It establishes legal protection and offers clear proof of the transaction, ensuring the buyer has full rights to the property.

Whether you’re purchasing land or buying a home, involving a legal professional and ensuring due diligence and proper documentation is in place will protect your investment and prevent future disputes between the seller and you the buyer.