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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.
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170 Real Estate Law 12 2019.05.05 106
169 Literature/journalism 2018.08.26 106
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166 Real Estate Law 24 2019.05.07 105
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164 Real Estate Practice -3 (Understanding-Answers) 2019.04.11 105
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160 Real Estate Law 88 2019.05.15 103
159 Real Estate Law 83 2019.05.15 103
158 Real Estate Law 70 2019.05.13 103
157 Real Estate Law 67 2019.05.12 103
156 Real Estate Law 30 2019.05.07 103
155 Real Estate Practice - 38 (Understanding-Answers) 2019.04.29 103
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152 Real Estate Law 19 2019.05.06 101
151 TEST 15 2019.03.07 101
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149 accrued expenses 미지급비용 2019.05.15 100
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143 Real Estate Practice - 37 (Understanding-Answers) 2019.04.29 99
142 TEST 22 2019.03.26 99