What is a Deed of Assignment?

When someone mentions the Deed or deeds of Assignment, they are refereeing to a set of legal documents used to assign/transfer the rights and/or obligations from one party to another.

In the case of business sales that involve a leasehold, a Deed of Assignment refers to the documentation that assigns the lease ownership from one party to the other.

It can vary from one situation to another and is not limited to just leases, it could also be used for assigning ownership of Intellectual property and outlining when liabilities start and end as well as the obligations of the parties involved.