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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.
No. Subject Date Views
Notice 부동산 용어사전 2019.04.15 2075
Notice 부동산 용어 (A to Z) 2019.03.03 1321
261 Real Estate Law 69 2019.05.13 143
260 Law 1 2019.05.02 143
259 Orange County home median price $732,750 2020.02.01 141
258 Real Estate Settlement Procedures Act (RESPA) 2019.05.23 141
257 Performance and Forbearance / Default and Breach 2019.05.08 141
256 Chapter Conclusion Chapter 14 2019.04.27 141
255 Four unities 2019.04.03 141
254 TEST 16 2019.03.10 141
253 TEST 9 2019.03.05 141
252 Sales of real property by a foreign person 2023.07.04 140
251 The major concerns of state laws 2023.07.05 140
250 Review Chapter 10 2019.05.12 140
249 Chapter 4 - TEST 2019.03.02 140
248 Real Estate Practice -4 (Understanding-Answers) 2019.04.12 139
247 Real Estate Law 87 2019.05.15 138
246 Real Estate Law 56 2019.05.11 138
245 TEST 4 - Correction 2019.03.02 138
244 Real Estate License Laws and the Real Estate Commission 2019.02.27 137
243 Real Estate Law 64 2019.05.12 136
242 Mortgage demand falls to lowest level in 22 years 2022.06.11 136
241 Movies/television/media 2018.08.26 136
240 Exam Essentials 2019.03.01 135
239 Chapter 2 Conclusion 2019.03.01 135
238 HUD’s advertising guidelines 2023.07.06 134
237 Chapter 14 Conclusion 2019.05.16 134
236 Chapter 2 Review 2019.05.04 134
235 Chapter 27 Conclusion 2019.03.27 133
234 The California Real Estate Commissioner 2019.02.28 132
233 CRMLS Listing Status Definitions file 2021.12.22 131
232 Chapter 2 Review (4) 2019.05.04 131