Of course, for a metes and bounds description to be legally sufficient, the location of the POB must be specified, and is usually specified by a monument (aka landmark), which can be a large artificial or natural object or other stable structure, including rocks, trees, streams, railroads, roads, and intersections that …
What are the three most common forms of legal descriptions in real estate?
Three types of land descriptions are used in the United States: (1) government rectangular survey description, (2) platted descriptions, and (3) metes and bounds descriptions.
What should be used as the legal description for a platted property in the contract?
The gold standard in drafting a contract is to use a complete legal description of the property to be conveyed matching some or all of the property owned by the seller. If that is the case, the complete legal description should be used including lot, block, section, subdivision name, and plat book and page.
Why is it important that the legal description appears in real estate documents?
A legal description provides legal evidence of the boundaries and allows a surveyor to accurately determine property lines at a later time. This is incredibly useful and necessary during real estate transactions or disputes. The description will typically appear on sales contracts and the property deed.
How do I give a property a description?
We’re here with eight tips for you to write a real estate listing description that sells.
- Describe the property accurately.
- Choose adjectives wisely.
- Avoid red flag words.
- Include words that add value.
- Highlight unique features.
- Take notice of punctuation.
- Leave out super basic info.
- Use great photos.
What are the two types of legal descriptions?
There are two primary types of legal descriptions: Lot and block descriptions, which are most often associated with subdivisions; and metes and bounds descriptions, which are used for non-subdivision property. Some legal descriptions contain both lot and block and metes and bounds descriptions.
How do you read a real estate legal description?
The more common method used in land surveys and property descriptions uses quadrants. The quadrants are northeast, southeast, southwest and northwest. For an example of N25°E, face north, then turn 25 degrees to the east and go that direction. If your bearing is S40°W, face south and turn 40 degrees to the west.
What is a legal lot description?
A legal description is a formal description of real property that identifies the boundaries of an entire parcel. A legal description can take different forms including reference to a government survey, metes and bounds, or a lot and block of a subdivision.
What is a benchmark legal description?
A surveyor uses a datum as an official elevation point to describe the height or depth of a property. To simplify matters, surveyors have identified local elevation markers, called benchmarks, to provide reference elevations for nearby properties.
What should be included in a real estate contract?
The gold standard in drafting a contract is to use a complete legal description of the property to be conveyed matching some or all of the property owned by the seller. This can be taken from the deed into the seller, a prior survey of the subject property, or a sketch of a description prepared by a surveyor.
When to use a legal description of real estate?
A legal description is a description of real estate that is sufficient to identify it for legal purposes. When preparing a deed, it is important to use the correct legal description. In most situations, the best practice is to use the legal description from the most recent deed to the property. How to Locate the Legal Description of Real Estate
What is the law of contracts in real estate?
Law of contracts real estate is a legally binding agreement between a buyer and a seller in regard to the title of a property. For a real estate contract to be enforceable, it must be in writing and contain all the necessary and essential elements to be considered valid.
How does a real estate contract have to be enforceable?
For a real estate contract to be enforceable, it must be in writing and contain all the necessary and essential elements to be considered valid. Short-term leases are often exceptions to this requirement. There are several elements that compose a real estate contract: Competent parties are those who are of legal age when entering into the contract.
