Buying land or a house in Nigeria involves more than paying the agreed purchase price and taking possession of the property. The transaction must be properly documented to establish the transfer of the seller’s interest to the buyer and to protect the buyer’s interest in the property. One of the most important documents used for this purpose is a Deed of Assignment. A Deed of Assignment is the legal instrument through which a person who holds an interest in land transfers that interest to another person. It is commonly used in the sale of land, houses and other interests in real property. However, signing a Deed of Assignment does not mean that a buyer can ignore title verification, Governor’s Consent, stamping or registration. The document forms part of a broader property transaction and must be properly prepared and perfected. This article explains what a Deed of Assignment is, what it should contain, when it is required, and the important steps a buyer should take before and after signing one. What Is a Deed of Assignment? A Deed of Assignment is a formal legal document by which the holder of an interest in land or property transfers that interest to another person. The person transferring the interest is called the Assignor, while the person receiving the interest is called the Assignee. For example, where Mr A owns a property and sells it to Mr B, the Deed of Assignment records the transfer of Mr A’s interest in the property to Mr B. The deed normally identifies the property, the interest being transferred, the consideration paid or agreed to be paid, the parties to the transaction and the terms governing the transfer. The document therefore provides formal evidence of the transaction and the interest which the buyer has acquired. When Is a Deed of Assignment Required in Nigeria? A Deed of Assignment is generally used where an existing interest in land is being transferred from one person to another. Common situations include: Sale of a completed house; Sale of a parcel of land; Transfer of an existing right of occupancy; Transfer of an interest acquired under a previous Deed of Assignment; Transfer of property from one entity or person to another; Certain commercial property transactions. The appropriate document depends on the nature of the transaction and the interest being transferred. A lease, sublease, deed of assent, deed of gift, mortgage or other instrument may be appropriate in different circumstances. A lawyer should therefore determine the correct instrument from the title and nature of the transaction rather than simply using a standard document. What Does a Deed of Assignment Transfer? A Deed of Assignment does not create ownership out of nothing. The Assignor must have an interest capable of being transferred. The deed transfers the Assignor’s existing interest, subject to the terms of the transaction and applicable law. For example, if the Assignor holds a statutory right of occupancy with a particular unexpired term, what is being transferred is the Assignor’s interest in that right of occupancy. This is why title verification must come before execution of the Deed of Assignment. A beautifully drafted deed cannot cure a defective root of title. What Should a Deed of Assignment Contain? A properly prepared Deed of Assignment should accurately reflect the transaction and the property being transferred. Although the precise contents will depend on the circumstances, important provisions commonly include the following. 1. Date of the Deed The deed should state the date on which it is executed. The date is important for identifying when the instrument was made and for determining the applicable legal and procedural requirements. 2. Details of the Assignor and Assignee The full names and relevant addresses or descriptions of the parties should be clearly stated. Where a company is involved, its proper corporate name and relevant particulars should be used. The person executing the deed on behalf of a company must also have proper authority to do so. 3. Recitals The recitals explain the background to the transaction. They may identify: How the Assignor acquired the property; The title document under which the Assignor holds the property; The location and description of the property; The agreement between the parties; The consideration for the transaction. The recitals are particularly useful because they provide the background against which the operative provisions of the deed are understood. 4. Description of the Property The property must be sufficiently identified. Depending on the transaction, this can include: The location; Plot number; Block number; Survey plan details; Land size; Beacon numbers; Description of buildings or improvements; Title registration details. A vague or inaccurate description can create serious problems when the document is submitted for registration or when the parties later dispute the property transferred. 5. Consideration The consideration paid or agreed to be paid should be properly stated. Where the transaction is a sale, the consideration will ordinarily be the purchase price. The deed should also reflect the actual commercial arrangement between the parties rather than an artificial figure inserted merely to reduce fees or taxes. 6. Operative Clause The operative part of the deed is the provision by which the Assignor formally assigns the relevant interest to the Assignee. It should clearly identify the interest being transferred and the property to which that interest relates. 7. Covenants and Representations The deed may contain promises made by the Assignor concerning the property and the title. Depending on the transaction, these can address matters such as: The Assignor’s authority to transfer the property; Absence of undisclosed encumbrances; Quiet enjoyment; Further assurance; Indemnity against specified title defects; Delivery of title documents. The precise covenants should be drafted according to the risks identified during due diligence. 8. Execution and Attestation The parties must execute the deed in accordance with applicable legal requirements. The execution clause should also provide for proper witnessing and attestation. Where a company is involved, the execution requirements applicable to companies should be observed. What Should a Buyer Check Before Signing a Deed of Assignment?
How Much Does Governor’s Consent Cost in Lagos?
The cost of obtaining Governor’s Consent in Lagos is one of the first questions property buyers and sellers ask when planning a land transaction. The answer is not simply a fixed percentage of the purchase price. In Lagos, the applicable charges are generally assessed by reference to the Fair Market Value (FMV) of the property and can include Governor’s Consent, Capital Gains Tax, stamp duty, registration and other applicable charges. This distinction has become particularly important following the introduction of the Lagos State 2026 Fair Market Value framework, which has significantly increased the official values used in assessing land transaction charges in many parts of the State. A buyer who budgets only on the purchase price can therefore be surprised by the amount required to complete title perfection. What Is the Governor’s Consent Fee? Governor’s Consent is the consent required under section 22 of the Land Use Act for certain dealings with a statutory right of occupancy, including assignment, mortgage, transfer of possession and sublease. In Lagos, the consent fee is one component of the wider cost of perfecting the relevant land transaction. The Lagos State Ministry of Lands’ published service schedule lists the Consent Fee on Land Services at 1.5% of the Fair Market Value of the property. It separately lists Capital Gains Tax at 0.5%, stamp duty at 0.5% and registration fees at 0.5%. Therefore, a buyer should distinguish between the Governor’s Consent fee itself and the total cost of perfecting the transaction. How Much Is Governor’s Consent in Lagos in 2026? For a typical land transfer to which the published Lagos State Lands Bureau rates apply, the consent fee is 1.5% of the assessed Fair Market Value. However, the total government charges associated with the transaction can be higher because other charges are separately applicable. The published Lagos State Ministry of Lands schedule provides the following rates for land services: Charge Published rate Governor’s Consent 1.5% of Fair Market Value Capital Gains Tax 0.5% of Fair Market Value Stamp Duty 0.5% of Fair Market Value Registration Fee 0.5% of Fair Market Value Combined percentage-based charges 3% of Fair Market Value These figures should not be interpreted as meaning that every property transaction will always produce exactly the same final bill. Other charges or transaction-specific requirements can apply. The official assessment for the particular transaction should therefore be treated as the final figure. Is Governor’s Consent Calculated on the Purchase Price? Not necessarily. This is one of the most important points for property buyers to understand. The Lagos State Lands Bureau’s published schedule expresses the principal land-service charges as percentages of the property’s Fair Market Value, rather than simply the amount stated in the buyer’s agreement. Consequently, the amount paid for the property and the value adopted for government assessment can produce different figures. For example, if a buyer purchases a property for ₦100 million but the relevant government assessment places its Fair Market Value at ₦150 million, applying a 1.5% consent fee to the assessed value would produce a consent fee of ₦2.25 million rather than ₦1.5 million. The actual assessment, however, must be obtained from the relevant government process for the particular property. What Is the 2026 Fair Market Value Framework? The Lagos State Government revised its Fair Market Value framework for land transactions in 2026. The revised framework, commonly referred to as the 2026 Blue Book, took effect from 1 May 2026. Contemporary reporting on the implementation states that the revised values increased the government-assessed values of property in many parts of Lagos, which in turn increased the naira amount payable for transaction-related charges. The important point is that an increase in the amount payable does not necessarily mean that the percentage rate itself has increased. Where the applicable percentage remains the same but the government’s assessed value of the property increases substantially, the resulting naira amount also increases. Why Did Governor’s Consent Become More Expensive in Lagos? The principal reason for the higher amounts in many transactions is the revision of the official property values used for assessment. For several years, government valuation benchmarks did not always reflect the substantial increase in market values across Lagos. The 2026 revision sought to update those values to reflect prevailing market conditions. As a result, a property that attracts a 1.5% consent fee can generate a much larger monetary charge if the Fair Market Value assigned to it has increased significantly. This distinction is important because saying simply that “Governor’s Consent has increased from X% to Y%” can be misleading. The applicable percentage and the assessed value are separate questions. How Much Would Governor’s Consent Cost on a ₦100 Million Property? Assuming, purely for illustration, that the government’s assessed Fair Market Value is ₦100 million, a 1.5% consent fee would be: ₦1,500,000 The other 0.5% charges listed in the Lagos State Ministry of Lands schedule would each amount to: Capital Gains Tax — ₦500,000 Stamp Duty — ₦500,000 Registration Fee — ₦500,000 That gives: Total of the four percentage-based charges: ₦3,000,000 This is an illustration only. The actual government assessment can differ from the purchase price. What If the Fair Market Value Is ₦500 Million? If the assessed Fair Market Value is ₦500 million: Governor’s Consent at 1.5% = ₦7.5 million Capital Gains Tax at 0.5% = ₦2.5 million Stamp Duty at 0.5% = ₦2.5 million Registration at 0.5% = ₦2.5 million The combined amount of those four percentage-based charges would be: ₦15 million Again, this is an illustration based on the published rates and an assumed Fair Market Value of ₦500 million. It is not a quotation of the amount payable for a particular property. What If the Property Is Worth ₦1 Billion? Using the same published rates and assuming a Fair Market Value of ₦1 billion: Governor’s Consent = ₦15 million Capital Gains Tax = ₦5 million Stamp Duty = ₦5 million Registration = ₦5 million The four percentage-based charges would therefore total: ₦30 million This demonstrates why buyers of high-value Lagos properties should