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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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Notice 부동산 용어 (A to Z) 2019.03.03 1336
261 Real Estate Law 25 2019.05.07 79
260 Real Estate Law 24 2019.05.07 104
259 Real Estate Law 23 2019.05.07 96
258 Real Estate Law 22 2019.05.07 87
257 Quiz 4 2019.05.06 6187
256 Real Estate Law 21 2019.05.06 89
255 Real Estate Law 20 2019.05.06 104
254 Real Estate Law 19 2019.05.06 101
253 Real Estate Law 18 2019.05.06 99
252 Real Estate Law 17 2019.05.06 97
251 Real Estate Law 16 2019.05.06 108
250 Real Estate Law 15 2019.05.06 115
249 Quiz 3 2019.05.05 7920
248 Chapter 3 Summary 2019.05.05 154
247 Real Estate Law 14 2019.05.05 241
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245 Real Estate Law 12 2019.05.05 106
244 Real Estate Law 11 2019.05.05 123
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239 Quiz Law 2 2019.05.04 5673
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232 Real Estate Law 5 2019.05.04 126