Difference between Deed of Assignment and Deed of Conveyance?

It is important to understand the difference between deed of conveyance and deed of assignment for clear property ownership transfer processes.

What is the Difference Between Deed of Conveyance and Deed of Assignment?

Deed of Assignment:

• Purpose: Primarily used for transferring ownership through sales from one person to another.

• Property Transfer: Involves transferring ownership rights, especially personal property.

• Examples: When you sell a house, you’re making an assignment of that property to the buyer.

• Common Use: Contracts involving personal property.

Deed of Conveyance:

• Purpose: Transfers legal title of property ownership from one individual to another (e.g., via mortgage, gift, or other real estate transactions).

• Property Transfer: Typically used for real estate or real property transactions.

• Examples: When you buy a house, the seller conveys ownership to you via a deed.

• Legal Validity: Requires acknowledgment before a notary to be legally binding.

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The terms "conveyance deed" and “deed of assignment” are not uncommon in real estate transactions. It is important to know what they mean and what is the difference between the two. Let me share the deed of assignment vs deed of conveyance here in simple words for your understanding.

What is a difference between deed of assignment and deed of conveyance?

An official document known as a deed of assignment acts as documentation that the lawful owner will transfer ownership of the purchased property to the buyer on a specific date. One of the most crucial land documents to obtain if you truly wish to be the rightful owner of a property is a deed of assignment.

A Deed of Assignment is a formal record that attests to the transfer of the purchased property to the buyer. When ownership changes, the deed identifies the new owner as well as other important details like the names of the buyer and seller. It includes the locations of the parties, the agreed price and the size of the purchased property. You must enter the deed of assignment for land into the land registry to provide official documentation and public notice.

A conveyance deed is used to formally prove that the seller of a property has given the buyer complete control and ownership over the asset. The seller must attest that there are no debts or other legal claims against the property. The mortgage must be paid off before the transfer deed is executed if a loan was taken out against the subject property. 

The local sub-office registrars are where buyers can have the conveyance deed examined. The precise day when the buyer will receive possession of the property should be specified in the conveyance deed. The original documents pertaining to the property transaction must be produced for registration before the local registrar within 4 months of the execution of the deed of conveyance.

The deed of assignment vs deed of conveyance is clear to you now.