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Things you need to know about Deed of Assignment for Immovable Property.

1. What is a Deed of Assignment? 

A Deed of Assignment is a contract where the owner (the “assignor”) transfers ownership over a certain property to another person (the “assignee”) by way of assignment.  As a result of the assignment the assignee steps into the shoes of the assignor and assumes all the rights and obligations pertaining to the property.

2. When do you need a Deed of Assignment?

A Deed of Assignment is used when the owner wants to transfer to another person the ownership, as well as the rights and obligations, pertaining to the property.  

The deed is normally executed in the course, or as part of the terms, of another contract.  However, if this is the case, the assignment is allowed only if the original contract allows the assignment and if the other party to the original contract agrees to the assignment.  

3. What information do you need to create the Deed of Assignment?

To create your Deed of Assignment you’ll need the following minimum information:

  1. The type of assignor (i.e. individual or business) as well as name and details (i.e. nationality and address)
  2. The type of assignee (i.e. individual or business) as well as name and details (i.e. nationality and address)
  3. Brief description of the property to be assigned

Related Documents.

Activities that involve a Deed of Assignment for Immovable Property sometimes use the following documents. You may be interested in them:

Deed of Assignment for Movable Property

Assign your rights to movable property (i.e. jewely, vehicle, shares of stock) to another person.

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