A term used to describe land boundaries and to establish all boundary lines and their ends and angles. Metes (length or measurements) and boundary description are often used when a high degree of precision is required. Deeds, mortgages, and other basic documents are usually registered in a county government agency, such as the county clerk or registry of deeds. Each document can be found in a specific volume of documents called a “book” or “liber”. Sometimes the legal description is attached to the document. If this is the case, the text of the document usually refers to the attached legal description. For example, the body of the document might refer to the property as “. the lands described in Schedule A.” Appendix A is appended to the document and contains the legal description. Such descriptions can get quite complicated, especially if a property crosses a municipal section or boundary. If the property is not subject to a subdivision area, and especially if it has an irregular shape, more complex descriptions will be posted, allowing a surveyor to measure and mark the boundaries of the property.
The other legal description system is the lot and block system (also known as the registered flat system), which refers to specific parcels identified by a lot number or letter and the block or subdivision platform in which the lot is located. The block itself is located using the metes-and-bounds system or the rectangular surveying system. To identify a particular parcel, the lot and block system shows the lot and block number, the name or number of the subdivision platform, and the name of the county and state. A legal description of the land used for the land, indicating the number, plot and block in a specific subdivision. The best place to find a legal description is usually the last deed of ownership (the deed that transferred ownership to the current owner). The legal description is usually included in the body of the document. Legal descriptions are usually accompanied by introductory words such as “. as described below. This wording indicates that the legal description will begin shortly. The legal description is often double-indented or bolded to distinguish it from the rest of the document. See the following examples for an illustration. Edgar reported the following cost of goods sold, but later determined that an error had been made in ending inventory for the year 2021.
The correct stock quantity for 2021 was 12,000. Once the error is corrected, (a) what is the adjusted cost of goods sold for 2021? and (b) what is the adjusted cost of goods sold for 2022? The legal description appears in several places in real estate documents, such as purchase agreements, mortgage documents, deeds, title information, etc. It is used to track a property`s history to ensure a clear title, and lenders need it to make sure they have the right collateral for the loan. Wherever it appears, it must be carefully checked to confirm that the description is correct. Fractions larger or smaller than 1 square mile also occur for reasons other than the fact that the meridians are not exactly parallel, which often occurs because the rectangular survey was done by separate teams working independently, resulting in deviations of less than 6 miles between the different areas studied. Fractions can also be caused by physical difficulties when surveying the land, such as because part of it has been submerged in water or because a municipal boundary has been delineated by a state boundary. Areas smaller than the full quarter section of 160 hectares are said to be without government. If you carefully read the legal description in your document and compare it with the legal description in a previous document, you can ensure that your document contains the corresponding legal description. This is very common in rural areas and is known as the Metes and Bounds description. It begins with the description of a point where measurement begins, which can be abbreviated to POB, as a starting point.
It usually contains information on the cantons. There are two main 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-dividing properties. Some legal descriptions include both lot and block descriptions and boundaries and boundaries. If the Commission considers it necessary to investigate or audit a broker`s escrow account, it has the power to give instructions or enter into a contract to assist the broker in carrying out the audit. There are certain limits to this power; However, as the Commission must be able to demonstrate, such an audit requires specific expertise, including the expertise of an accountant or legal expert. In that case, the Commission shall retain full powers of control over those experts. The final decisions shall in any event be taken by the Commission and not by an expert appointed by the Commission to carry out the review. 1) Provide at least two examples of legal descriptions of land. Legal descriptions always indicate the county and state where the property is located. There are 3 independent methods for determining the exact location and boundaries of a property: Contracts of sale, deeds, mortgages, and trust deeds require a legal description of the property that is legally sufficient to be binding, meaning that the description would allow a qualified surveyor to delineate the exact boundaries of the property.
The legal description of a property does not include the buildings within it – only the property lines. The legal description is also an important determinant in determining the price of the property. Although the address is necessary to locate the property, it is not sufficient to identify the property. In fact, addresses are often renamed over time and even physical boundaries can change course, like that of a local stream. Note that since a property is necessarily limited in area, any description of this property must necessarily form a closed area. In the case of plated subdivisions, the description of the object is simplified. The property description used in deeds and other land deeds refers to the name of the subdivision and the lot number. For example: This is the most recent surveying system developed when sharing parcels of land. A flat map or cadastre marks the parcels of a subdivision and is recorded as a legal description. Lots are usually sold in one piece, and blocks have a group of adjacent lots, with blocks separated by roads throughout the subdivision. Edward A. Haman is a freelance writer who is the author of numerous legal self-help books.
He practiced law in Hawa. Read more All deeds in the chain of ownership of the property must have an identical legal description. It is usually found on the document after a sentence similar to: “the defined parcel or parcel of land described as follows”. For an example of how a legal description of a lot and block appears on an actual deed, see Example of an act – Lot and block. Let us say that a landowner owns a large piece of land and wants to divide it into small residential lots. The metes and bounds, or system of government, has been used to describe the country. The plot that our owner wants to share is a quarter or 40 hectares. The street is essentially the mailing address of the property, which includes the number and name of the house, city or village, state, and zip code. There are different types of legal descriptions (see below), but these distinctions are often not relevant to the document preparation process.
Knowing the different types of legal descriptions is not as important as knowing where to find the legal description of the specific asset being transferred. Architectural style or architecture is not always a reliable indicator. To be sure whether a property is a condominium or not, the best determination would be the legal description. The legal description can be found on the deed of ownership. When creating a legal description, it is important to use the exact legal description that appears on the last deed of ownership. This requires special attention from the creator. It is advisable to re-read the legal description several times to ensure that each letter and punctuation element looks exactly what it was in the previous document. A legal description is one that is legally sufficient to describe the property.
Using the most recent deed for the property is usually the best way to ensure that the interest of the current owner passes to the new owner. The following is a list of other types of descriptions that are often not sufficient to be considered an adequate legal description: An estate in real estate where there is an undivided common interest in a part of the property, associated with a distinct interest in space, called a unit, the boundaries of which are described on a final registered map; Parcel map or condominium plan. A legal description is a description of real estate that is sufficient to identify it for legal purposes. When drafting an act, it is important to use the correct legal description. In most cases, it is best to use the legal description of the last deed of ownership.