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부동산

Chapter 2 Review (2)

2019.05.04 21:22 Views : 164

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
Notice 부동산 용어사전 2019.04.15 2083
Notice 부동산 용어 (A to Z) 2019.03.03 1335
261 Chapter 9 Conclusion 2019.04.15 73
260 Chapter 9 Quiz 2019.04.15 163
259 Real Estate Practice - 21 (Understanding-Answers) 2019.04.16 55
258 Real Estate Practice - 22 (Understanding-Answers) 2019.04.16 83
257 Chapter 10 Conclusion 2019.04.16 96
256 Chapter 10 Quiz 2019.04.16 168
255 Real Estate Practice - 23 (Understanding-Answers) 2019.04.16 76
254 Real Estate Practice - 24 (Understanding-Answers) 2019.04.16 51
253 Chapter 10 Conclusion 2019.04.16 91
252 Chapter 11 Quiz 2019.04.16 218
251 Real Estate Practice - 25 (Understanding-Answers) 2019.04.26 860
250 Real Estate Practice - 26 (Understanding-Answers) 2019.04.26 62
249 융자 프로그램의 종류 2019.04.26 60
248 Real Estate Practice - 27 (Understanding-Answers) 2019.04.26 80
247 Chapter 12 Conclusion 2019.04.26 171
246 Chapter 12 Quiz 2019.04.26 282
245 Real Estate Practice - 28 (Understanding-Answers) 2019.04.26 97
244 Real Estate Practice - 29 (Understanding-Answers) 2019.04.27 62
243 Real Estate Practice - 30 (Understanding-Answers) 2019.04.27 64
242 Chapter 13 Conclusion 2019.04.27 200
241 Chapter 13 Quiz 2019.04.27 199
240 Real Estate Practice - 31 (Understanding-Answers) 2019.04.27 87
239 Real Estate Practice - 32 (Understanding-Answers) 2019.04.27 72
238 Chapter Conclusion Chapter 14 2019.04.27 150
237 Chapter 14 Quiz 2019.04.27 592
236 Real Estate Practice - 33 (Understanding-Answers) 2019.04.29 92
235 Chapter 15: Using Real Estate Assistants Summary 2019.04.29 87
234 Chapter 15 Quiz 2019.04.29 158
233 Real Estate Practice - 34 (Understanding-Answers 2019.04.29 80
232 Real Estate Practice - 35 (Understanding-Answers 2019.04.29 88