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부동산

Chapter 2 Review (2)

2019.05.04 21:22 Views : 163

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 1321
261 Real Estate Law 23 2019.05.07 94
260 Real Estate Law 22 2019.05.07 85
259 Quiz 4 2019.05.06 6185
258 Real Estate Law 21 2019.05.06 87
257 Real Estate Law 20 2019.05.06 99
256 Real Estate Law 19 2019.05.06 99
255 Real Estate Law 18 2019.05.06 98
254 Real Estate Law 17 2019.05.06 96
253 Real Estate Law 16 2019.05.06 106
252 Real Estate Law 15 2019.05.06 113
251 Quiz 3 2019.05.05 7918
250 Chapter 3 Summary 2019.05.05 153
249 Real Estate Law 14 2019.05.05 237
248 Real Estate Law 13 2019.05.05 94
247 Real Estate Law 12 2019.05.05 104
246 Real Estate Law 11 2019.05.05 111
245 Real Estate Law 10 2019.05.05 84
244 Real Estate Law 9 2019.05.05 100
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242 Real Estate Law 7 2019.05.05 127
241 Quiz Law 2 2019.05.04 5671
240 Chapter 2 Review (5) file 2019.05.04 166
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» Chapter 2 Review (2) 2019.05.04 163
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