Description

Real Estate Legal Description Property Measurement Contract Terminology Survey Methods Deeds Lease Agreements Sales Contracts
In real estate, a formal depiction of the dimensions and location of a property, generally included in deeds, leases, sales contracts, and mortgage contracts for real property.
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Description

A description is a statement that explains or delineates specific details about a subject. In broad terms, it can be used in various contexts such as job descriptions, product descriptions, or procedure descriptions. In the realm of real estate, a description usually refers to a formal delineation of the dimensions and location of real property. This is a critical part of legal documents such as deeds, leases, sales contracts, and mortgage agreements.

Detailed Breakdown:

  1. Job Description: Defines the roles, responsibilities, qualifications, and expectations for a specific job role within an organization.

  2. Real Estate Description: This includes the specific dimensions and location of a property and is essential for legal purposes. Several standardized methods exist to describe a property accurately:

    • Government Rectangular Survey: Utilizes a grid system of townships and ranges to define large plots of land.
    • Lot and Block: Commonly used in subdivisions. Relies on a recorded map, or plat, to define individual lots within a subdivision.
    • Metes and Bounds: Describes a parcel by its boundary lines, using measurements (metes) and physical features (bounds).

Examples:

  1. Job Description:

    • “The Software Engineer will develop, test, and maintain software applications in compliance with company standards.”

  2. Real Estate Description:

    • “Lot 12, Block 3, within the subdivision known as Granite Hills, recorded in Book 17, Page 223 of Maps.”
    • “Beginning at a point on the North line of Main Street, 200 feet East of the intersection with North Avenue, then running North 150 feet…”

Frequently Asked Questions (FAQs):

  1. What is the importance of a property description in real estate?

    • A property description ensures legal clarity by precisely describing the land in question, avoiding disputes about property boundaries and ownership.

  2. Are property descriptions and addresses the same?

    • No, addresses are a convenient way to locate a property, while descriptions provide detailed legal delineations essential for legal documents.

  3. What is a plat in real estate?

    • A plat is a map, drawn to scale, showing the divisions of a piece of land. It is often referred to in the lot and block system.

  • Government Rectangular Survey: A method of land description utilizing principal meridians and baselines, forming a grid of townships and ranges.

  • Lot and Block: A parcel identification method involving a detailed map, often used for subdivisions.

  • Metes and Bounds: A system of describing land by specifying the boundary lines with reference to physical features and measurements.

  • Plat: A map documenting the subdivision of land, showing lots, blocks, street names, etc.

Online Resources:

Suggested Books for Further Studies:

  • “Principles of Real Estate Practice” by Stephen Mettling, David Cusic
  • “The Essentials of Real Estate Law” by Lynn T. Slossberg
  • “Real Estate Law” by Marianne M. Jennings
  • “Real Estate Principles: A Value Approach” by David C. Ling, Wayne R. Archer

Fundamentals of Real Estate Description: Real Estate Basics Quiz

### What is the primary purpose of a real estate description? - [ ] To provide an address for a property. - [ ] To market the aesthetic of the property. - [x] To define the legal boundaries and dimensions of a property. - [ ] To assess the property value for insurance purposes. > **Explanation:** The primary purpose of a real estate description is to define the legal boundaries and dimensions of a property for legal documentation and avoiding disputes. ### Which system uses a grid of townships and ranges? - [ ] Lot and Block - [ ] Metes and Bounds - [x] Government Rectangular Survey - [ ] Property Grid Network > **Explanation:** The Government Rectangular Survey system uses a grid of townships and ranges to describe large plots of land systematically. ### What is a plat most commonly associated with? - [x] Lot and Block system - [ ] Government Rectangular Survey - [ ] Metes and Bounds - [ ] ZIP Code delineation > **Explanation:** A plat is most commonly associated with the Lot and Block system, where it records the divisions of land within subdivisions. ### Which element is NOT part of the Metes and Bounds method? - [ ] Boundary lines - [ ] Physical features - [ ] Measurements - [x] Parcel post codes > **Explanation:** Metes and Bounds method does not involve parcel post codes; it is based on specifying boundary lines, physical features, and measurements. ### A legally binding sales contract requires which component for the property? - [ ] Address - [ ] ZIP Code - [x] Legal description - [ ] Aerial photograph > **Explanation:** A legally binding sales contract must include a legal description of the property to ensure authority and precise identification. ### Which term denotes the basic map for real estate sub-divisions? - [ ] Blueprint - [x] Plat - [ ] Schematic - [ ] Site Plan > **Explanation:** A plat is the basic map used for documenting the subdivisions of land, showing divisions into lots and blocks. ### Which method describes property based on physical features and distances? - [ ] Government Rectangular Survey - [ ] Lot and Block - [x] Metes and Bounds - [ ] Public Land Survey > **Explanation:** The Metes and Bounds method describes property based on measurements (metes) and physical features (bounds). ### What ensures the correct legal transfer of real estate? - [ ] Market value assessment - [ ] Latest appraisal - [ ] Color brochure - [x] Proper legal description > **Explanation:** A proper legal description is essential for ensuring the correct legal transfer of real estate, defining boundaries explicitly. ### The Government Rectangular Survey system establishes townships based on which two main lines? - [ ] Equator and Prime Meridian - [ ] Northern and Southern Tropic Lines - [x] Principal Meridians and Baselines - [ ] Eastern and Western Borders > **Explanation:** The Government Rectangular Survey system establishes townships based on principal meridians and baselines. ### For detailed property boundary documentation, which system is preferred in forestry areas? - [ ] Lot and Block - [x] Government Rectangular Survey - [ ] Census Boundary Method - [ ] Subdivision Plan > **Explanation:** The Government Rectangular Survey system is preferred in forestry and rural areas for detailed property boundary documentation.

Thank you for exploring the intricacies of real estate descriptions and challenging yourself with our informative quiz. Keep enhancing your understanding of property law and real estate practices!

Wednesday, August 7, 2024
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