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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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291 Open-End Mortgage 2019.06.05 173
290 If a contract for sale provides that the owner is selling his home in an "as-is" condition, then 2019.05.27 173
289 Real Estate Law 29 2019.05.07 173
288 Chapter 12 Conclusion 2019.04.26 171
287 12555 Euclid Street #31 Garden Grove, CA 92840 2017.07.09 170
286 A promissory note 2019.05.27 169
285 Real Estate Law 1 2019.05.03 169
284 Chapter 2 Review (5) file 2019.05.04 168
283 Chapter 10 Quiz 2019.04.16 168
282 prohibit discrimination 2023.07.06 166
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280 Chapter 2 Review (3) 2019.05.04 163
279 Chapter 9 Quiz 2019.04.15 163
278 1031 file 2022.01.04 162
277 Department of Real Estate - Commissioner 2019.06.01 161
276 Real Estate Law 6 2019.05.04 161
275 96003 2019.05.29 160
274 Secured Property Taxes file 2021.10.17 159
273 Real Estate Law 62 2019.05.12 159
272 Sales of real property by a foreign person 2023.07.04 158
271 Chapter 15 Quiz 2019.04.29 158
270 Estimated Value - 8885 2021.08.31 157
269 Music 2018.08.26 157
268 Athletics 2018.08.26 157
267 Quitclaim Deed 2019.05.27 155
266 8566 Fallbrook Circle Unit#711B - $ 675000 2021.08.31 154
265 Real Estate Law 39 2019.05.08 154
264 Chapter 3 Summary 2019.05.05 154
263 HUD’s advertising guidelines 2023.07.06 152
262 The major concerns of state laws 2023.07.05 151