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부동산

Chapter 2 Review (2)

2019.05.04 22:22 Views : 204

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
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Notice 부동산 용어 (A to Z) 2019.03.03 1602
262 Real Estate Law 26 2019.05.07 118
261 Real Estate Law 25 2019.05.07 109
260 Real Estate Law 24 2019.05.07 130
259 Real Estate Law 23 2019.05.07 130
258 Real Estate Law 22 2019.05.07 111
257 Quiz 4 2019.05.06 6371
256 Real Estate Law 21 2019.05.06 118
255 Real Estate Law 20 2019.05.06 128
254 Real Estate Law 19 2019.05.06 135
253 Real Estate Law 18 2019.05.06 136
252 Real Estate Law 17 2019.05.06 124
251 Real Estate Law 16 2019.05.06 143
250 Real Estate Law 15 2019.05.06 141
249 Quiz 3 2019.05.05 7957
248 Chapter 3 Summary 2019.05.05 190
247 Real Estate Law 14 2019.05.05 267
246 Real Estate Law 13 2019.05.05 122
245 Real Estate Law 12 2019.05.05 139
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242 Real Estate Law 9 2019.05.05 141
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240 Real Estate Law 7 2019.05.05 152
239 Quiz Law 2 2019.05.04 5696
238 Chapter 2 Review (5) file 2019.05.04 197
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236 Chapter 2 Review (3) 2019.05.04 198
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234 Chapter 2 Review 2019.05.04 169
233 Real Estate Law 6 2019.05.04 190