what is the meaning of a deed of assignment

Deed of Assignment: Everything You Need to Know

A deed of assignment refers to a legal document that records the transfer of ownership of a real estate property from one party to another. 3 min read

Updated October 8,2020:

A deed of assignment refers to a legal document that records the transfer of ownership of a real estate property from one party to another. It states that a specific piece of property will belong to the assignee and no longer belong to the assignor starting from a specified date. In order to be valid, a deed of assignment must contain certain types of information and meet a number of requirements.

What Is an Assignment?

An assignment is similar to an outright transfer, but it is slightly different. It takes place when one of two parties who have entered into a contract decides to transfer all of his or her rights and obligations to a third party and completely remove himself or herself from the contract.

Also called the assignee, the third party effectively replaces the former contracting party and consequently assumes all of his or her rights and obligations. Unless it is stated in the original contract, both parties to the initial contract are typically required to express approval of an assignment before it can occur. When you sell a piece of property, you are making an assignment of it to the buyer through the paperwork you sign at closing.

What Is a Deed of Assignment?

A deed of assignment refers to a legal document that facilitates the legal transfer of ownership of real estate property. It is an important document that must be securely stored at all times, especially in the case of real estate.

In general, this document can be described as a document that is drafted and signed to promise or guarantee the transfer of ownership of a real estate property on a specified date. In other words, it serves as the evidence of the transfer of ownership of the property, with the stipulation that there is a certain timeframe in which actual ownership will begin.

The deed of assignment is the main document between the seller and buyer that proves ownership in favor of the seller. The party who is transferring his or her rights to the property is known as the “assignor,” while the party who is receiving the rights is called the “assignee.”

A deed of assignment is required in many different situations, the most common of which is the transfer of ownership of a property. For example, a developer of a new house has to sign a deed of assignment with a buyer, stating that the house will belong to him or her on a certain date. Nevertheless, the buyer may want to sell the house to someone else in the future, which will also require the signing of a deed of assignment.

This document is necessary because it serves as a temporary title deed in the event that the actual title deed for the house has not been issued. For every piece of property that will be sold before the issuance of a title deed, a deed of assignment will be required.

Requirements for a Deed of Assignment

In order to be legally enforceable, an absolute sale deed must provide a clear description of the property being transferred, such as its address or other information that distinguishes it from other properties. In addition, it must clearly identify the buyer and seller and state the date when the transfer will become legally effective, the purchase price, and other relevant information.

In today's real estate transactions, contracting parties usually use an ancillary real estate sale contract in an attempt to cram all the required information into a deed. Nonetheless, the information found in the contract must be referenced by the deed.

Information to Include in a Deed of Assignment

• Names of parties to the agreement
• Addresses of the parties and how they are binding on the parties' successors, friends, and other people who represent them in any capacity
• History of the property being transferred, from the time it was first acquired to the time it is about to be sold
• Agreed price of the property
• Size and description of the property
• Promises or covenants the parties will undertake to execute the deed
• Signatures of the parties
• Section for the Governors Consent or Commissioner of Oaths to sign and verify the agreement

If you need help understanding, drafting, or signing a deed of assignment, you can post your legal need on UpCounsel's marketplace. UpCounsel accepts only the top 5 percent of lawyers to its site. Lawyers on UpCounsel come from law schools such as Harvard Law and Yale Law and average 14 years of legal experience, including work with or on behalf of companies like Google, Menlo Ventures, and Airbnb.

Hire the top business lawyers and save up to 60% on legal fees

Content Approved by UpCounsel

• Define a Deed
• Contract for Deed California
• Contract for Deed in Texas
• Assignment Law
• Deed Contract Agreement
• Assignment Of Contracts
• Legal Assignment
• Deed vs Agreement
• Assignment Legal Definition
• Contract for a Deed

• Practical Law

Deed of assignment

How can we help?

• Director Guarantee
• Loan Agreement
• Sole Borrower Joint Proprietor
• Occupier Waiver Form
• Additional Services
• Joint Borrower Sole Proprietor
• Transfer of Equity
• Bridging Loan
• Equity Release
• Personal Guarantee Insurance
• Borrower and Proprietor
• Form LL Land Registry Restriction
• Declaration of Solvency
• Landlord statutory declaration
• PE3 Statutory Declaration
• Buy to Let Partnership Deed of Trust
• Tenants in Common to Joint Tenants' Deed of Trust
• Declaration of No Interest in Property
• Deed of Assignment
• Deed of Trust
• Floating Deed of Trust
• Joint Mortgage Sole Proprietor Deed of Trust
• Loan Repayment Calculator
• Bankruptcy Restrictions Order
• Form A Restriction
• Mortgage Restriction
• Severance of Joint Tenancy
• Auction Legal Pack Review
• Auction Pack Searches
• Property Dispute Solicitors
• Property Misrepresentation Dispute
• Unbundled Legal Services

Deed of Assignment Cost

How do i get a deed of assignment.

• Accessibility Statement
• Privacy Policy
• Complaint Handling Procedure
• Zero Tolerance Policy
• Terms and Conditions

We use cookies to optimise your experience. Check our policies here and enjoy the website!

deed of assignment

• Vocabulary exercises help you to learn synonyms, collocations and idioms.
• Intermediate and Advanced level grammar practice with progress tests.
• Listening and pronunciation, exam preparation and more!

Explore topics