Several times clients have asked the above question, let me address it in simple terms.
A Deed of Assignment is an instrument of transfer, that transfers the rights of the seller of the property to the buyer. It is the only legally recognised and acceptable document of transferring the rights of the owner to another person.
It is also a requirement by law that the transfers of rights to land should be done by Deed.
A Deed of Sale is unknown to property transactions. A Deed of Assignment shows conclusion of a sale on a property.
However, there is a Contract of Sale, this is a document that spells out the modalities for an intending purchase, the terms and conditions agreed by the seller and the buyer for the Sale of the Property, this includes, agreed amount, agreed installments of payment, etc.
Why Do I need a Deed of Assignment?
Simply put, your Deed of Assignment is a document that validly shows your proof of ownership on a piece of property.