A legal description using this system will reference the sections to find the property: Although the system was a costly investment, it established more reliable legal descriptions. It is primarily used throughout the United States with the exception of the thirteen colonies, which was surveyed by the metes and bound method inherited from the British. This system, sometimes called the Public Land Survey System, was created in 1785 to plat or divide real property into squares and rectangles for sale and settling. Rectangular Government Survey (or Fractional)Įach provides the instructions a land surveyor will follow to measure the property and ensure it is accurate.There are three different methods of creating a legal description, which includes: Describes all necessary location information to identify a plot of landĪs a result, the legal description has a huge impact on land value as the accuracy in measuring land bolsters people’s confidence in buying, selling, insuring, and investing in it.The legal description performs three critical functions: Instead, the legal description acts as the primary property identifier in every real estate transaction.Ī legal description provides assurances that other forms of property identification can’t. Perhaps it’s the property identification number (PIN) or parcel number that you’ve spotted on your tax bill? No, even this number doesn’t pass muster for the vital work behind the scenes of a real estate closing. An address simply doesn’t give enough unique property information. Where do you live? It’s a simple question to answer in most cases, but when it comes to buying property, real estate, title, and mortgage professionals don’t rely on the address.
0 kommentar(er)
