How a deed of assignment differs from four other types of deeds

A deed of assignment is a legal document that transfers rights, title and interest in a property from one person to another. This can involve intellectual property and rights as well as real estate.

Although it may be used to transfer legal rights such as patents, it is frequently used in real estate. Subject to a couple of exceptions, a legal interest in land cannot be transferred without a deed under section 52(1) Law of Property Act 1925

If you think you might need a deed of assignment, you can find details of the costs online. Below, we will look at how a deed of assignment can differ from other types of deeds.

Deed of Sale

This is a document which transfers an interest in property for a cash consideration. This distinguishes it from a deed of assignment as money changes hands, whereas this need not be the case in a deed of assignment.

Deed of Trust

If you transfer the legal title of a property to a trustee holding it on someone else’s behalf, a deed of trust is appropriate. Typically, the beneficiary would be a lender where a mortgage is involved. Here a third party is involved and that is typically not the case in a deed of assignment.

Deed of Gift

This is appropriate when ownership of property or any asset is made freely to someone else. It is often used when a parent gifts a property to offspring. No conditions are attached, although there may be in a deed of assignment. A deed of gift involves a transfer where only goodwill is involved in the transaction.

Deed of Release

This is used to release someone from a claim or a legal duty. In dispute resolution, it can be used to release parties from future obligations or any potential claim. A deed of assignment is, on the other hand, usually concerned with the transfer of rights.

We hope that this helps you decide which type of deed you need to reach your aims. Always seek professional advice.