Legal Description Of Property
Definition of "Legal Description of Property"
The legal description of property is a legal instrument to determine as best as one can, the physical boundaries and characteristics of a plot of land and the housing built on top of it. Its goal is for someone to completely identify a property just by reading the description provided, and it generally comes attached to lease agreements to guide possible disputes in the future. A legal description of property is mostly found in sales contracts, deeds, and mortgages.
Real estate lawyers are usually the ones responsible for the legal description of property, and – when doing one – they typically focus on aspects that don’t change much over the course of time. So, for instance, a street address is not the most common identifier in a legal description of property because street names do change a lot. So, no “the property is in the intersection of Old Guy Street with Brand New Name Street”, as time changes, and even the most popular name can be traded for any number of reasons - not to mention the street can cease to exist due to urban development or even natural disasters.
Some legal descriptions of property cover the quantity of land in acres, but the most common way of going about this document is making a description of the land itself through fractional designations that divide (and describe) the land in sections. This concept of locating or describing land is actually very old and has been around since 1785 when it was established by law under the Articles of Confederation as a way to divide the land in relation to the public land survey system. Its initial purpose was to determine farms and big real estate into “townships”, but as time went on and our society developed and started fragmentizing space within space, it grew more specialized and complex.
It is very important to have a professional do your legal description of property when doing the title transfer of your house because if it’s improperly done, the sale of the home can be marked as invalid due to improper land description.
Real Estate Tip:
You know who can connect you with a trustworthy lawyer to help out not only on the legal description of property but several other documents? A real estate agent! And we have the best ones! Contact a local one now!
Popular Real Estate Terms
Right of an individual to be offered something before it is offered to others. For example, a tenant whose apartment is going to be converted to a cooperative has the first right of ...
The fire insurance term is a policy used in property insurance that ensures any damage or loss that was a result of a fire. Most affordable home insurances cover fire insurance but other ...
Mortgage for an extended time period (e.g., 25 years) Type of real estate investment trust (REIT) that gives long-term mortgages to real estate developers and contractors on new or ...
Early American frontier-style house constructed of logs. Since finished lumber was not readily available during the early frontier period of American history, homes were often fashioned out ...
Contract to act on the behalf of a principal in selling real estate. The principal agrees to pay a commission to the broker when a buyer is produced who is ready, willing, and able to meet ...
The meaning of commercial acre in the United States defines the remaining part of an acre of a newly divided land once curbs, streets, and boardwalks have been separated from the original ...
Created by law usually for the right to travel to landlocked parcel of land ...
Siding made out of aluminum, plastic derivates, or cement asbestos having ridges and valleys which is attached to the sides of buildings. ...
(1) Paved roadway constructed above lowlands such as a swamp. (2) Roadway in ancient Egypt connecting the valley temple with a pyramid. ...
Have a question or comment?
We're here to help.