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부동산

Real Estate Law 1

2019.05.03 20:56 Views : 173

Check Your Understanding - Answers

  1. Define a parcel.

    A portion of land delineated by boundaries
     
  2. What is the definition of a legal description?

    A description 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.
     
  3. What situations require a legal description?

    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
  1. When did the Public Land Survey System begin?

    Shortly after the American Revolution, when the federal government became responsible for large areas of land west of the original thirteen states.
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