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부동산

Chapter 2 Review (2)

2019.05.04 21:22 Views : 492

Chapter Review

A legal description of real property is one which accurately locates and identifies the boundaries of the subject parcel to a degree acceptable by courts of law in the state where the property is located.

A legal description is required for:

  • Public recording
  • Creating a valid deed of conveyance or lease
  • Completing mortgage documents
  • Executing and recording other legal documents

The Public Land Survey System (PLSS) is the method traditionally used over the largest part of the United States to survey and classify land parcels and is occasionally referred to as the rectangular survey.

The three accepted methods of legally describing parcels of real estate are:

  • Metes and bounds - A metes and bounds description identifies the boundaries of a parcel of real estate using reference points, distances, and angles
  • Rectangular survey system, or government survey method - The federal government developed this method to simplify and standardize property descriptions as a replacement for the cumbersome and often inaccurate metes and bounds method. The system was further modified to facilitate the transfer of large quantities of government-owned western lands to private parties.
  • Lot and block method, or recorded plat method – This system is used to describe properties in residential, commercial, and industrial subdivisions.
No. Subject Date Views
247 Real Estate Law 14 2019.05.05 556
246 Real Estate Law 13 2019.05.05 388
245 Real Estate Law 12 2019.05.05 423
244 Real Estate Law 11 2019.05.05 424
243 Real Estate Law 10 2019.05.05 407
242 Real Estate Law 9 2019.05.05 427
241 Real Estate Law 8 2019.05.05 421
240 Real Estate Law 7 2019.05.05 425
239 Quiz Law 2 2019.05.04 5907
238 Chapter 2 Review (5) file 2019.05.04 451
237 Chapter 2 Review (4) 2019.05.04 433
236 Chapter 2 Review (3) 2019.05.04 442
» Chapter 2 Review (2) 2019.05.04 492
234 Chapter 2 Review 2019.05.04 410
233 Real Estate Law 6 2019.05.04 439
232 Real Estate Law 5 2019.05.04 409
231 Real Estate Law 4 2019.05.04 607
230 Real Estate Law 3 2019.05.04 472
229 Real Estate Law 2 2019.05.04 842
228 Real Estate Law 1 2019.05.03 430
227 Quiz Law 1 2019.05.03 6185
226 Law 6 2019.05.03 402
225 Law 5 2019.05.03 383
224 Law 4 2019.05.03 415
223 Law 3 2019.05.03 421
222 Law 2 2019.05.03 446
221 Law 1 2019.05.02 405
220 Review Quiz - BOOK 2 2019.04.29 5280
219 Chapter 18 Conclusion 2019.04.29 1306
218 Real Estate Practice - 39 (Understanding-Answers) 2019.04.29 478