Property Boundaries

Lot Line
A lot line is a boundary line that defines the perimeter of a piece of property as described in a survey.
Metes and Bounds
Metes and bounds is a system used for describing the territorial limits of property based on measurements of distance, angles, and landmarks.
Section of Land
A section of land, as defined in the Government Rectangular Survey, is one square mile. This system divides land into a grid where each township contains 36 sections, each being one square mile or 640 acres in area.

Accounting Terms Lexicon

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