What are the three most common forms of legal descriptions in real estate?
Common Types of Legal Descriptions
The three types of legal descriptions you're likely to encounter include: Metes and bounds. Rectangular Survey System (also known as Public Land Survey System or government survey method) Plat method or lot and block method.
Common Types of Legal Descriptions
The three types of legal descriptions you're likely to encounter include: Metes and bounds. Rectangular Survey System (also known as Public Land Survey System or government survey method) Plat method or lot and block method.
There are three main systems used to write the legal description of a property. These include the Rectangular Survey System, metes and bounds, and lot and block. The Rectangular Survey System is most often used to describe large areas for governmental purposes.
(1) metes-and-bounds, (2) government survey system, and (3) lot and block descriptions.
Fractional Designation: The most common form seen. A fractional designation uses rectangular surveying to correctly describe the land in sections. Metes and Bounds: This form of description uses references, such as streets and rivers to identify each point of the property (north, south, east, and west).
The lot and block system is the most common type of legal description used in urban and suburban real estate. This system is used when parcels of land are divided up into individual lots.
In addition to the three commonly adopted forms of business organization—sole proprietorship, partnership, and regular corporations—some business owners select other forms of organization to meet their particular needs.
What are the methods of description? There are three common methods used to describe real estate: metes and bounds, government survey, and lot and block.
A licensed surveyor can also generate a legal description, which usually starts with the words "... described as follows." The three different methods to determine legal descriptions are the lot and block system, metes and bounds, and rectangular survey.
The metes and bounds method is the oldest and most common way to measure land by which the surveyor finds a starting point, called the point of beginning, and proceeds with directions, angles, and distances.
What is a metes and bounds legal description?
A metes and bounds legal description starts from a point of beginning, then traces the outline of the property's boundary lines until there is closure in the legal description. Natural monuments and artificial monuments can both be used as metes and bounds. For example, rivers, roads, trees, etc.
Metes & bounds is the legal description of a parcel of land that is measured in distances, angles, and directions.
Metes and bounds was the survey system used to map the original thirteen colonies of the United States and remains part of the legal description of properties in that geographic area.
There are five main categories of real estate which include residential, commercial, industrial, raw land, and special use. Investing in real estate includes purchasing a home, rental property, or land. Indirect investment in real estate can be made via REITs or through pooled real estate investment.
The most common forms of legal description are rectangular survey; metes and bounds; lot, block (plat), and subdivision. A Licensed surveyor is the only one responsible for preparing a Legal Description.
Property law in the United States is complex and multifaceted, but these laws pertain specifically to three distinct types of property. Both state and federal laws exist to protect real property, personal property, and intellectual property.
The main body of the description is where you will find the information about the parcel but first, we need to know its location properties, like state and county. As well as state and county, the different parts of the legal description comprise Township, Range, Section and Portion of the section.
Metes and bounds is the earliest form of legal description used in the United States and is still the primary method of describing property in the original 13 colonies.
These range from foundational documents like contracts, wills, and deeds to more specialized legal documents such as court pleadings, affidavits, and legal briefs. Court pleadings, for instance, are formal statements filed with a court that outline the issues to be decided in a case.
| Business structure | Ownership |
|---|---|
| Sole proprietorship | One person |
| Partnerships | Two or more people |
| Limited liability company (LLC) | One or more people |
| Corporation - C corp | One or more people |
What is the most common form of ownership?
Sole Proprietorship. This is the simplest and most common form used when starting a new business. Sole proprietorships are set up to allow individuals to own and operate a business by themselves. A sole proprietor has total control, receives all profits from, and is responsible for taxes and liabilities of the business ...
However, owners in a partnership and an owner of a sole proprietorship each are fully liable for the business. Finally, a corporation is a firm that is owned by shareholders. Shareholders bear only the risk of their investment in the corporation unlike owners of a partnership and a sole proprietorship.
legal description. A description of a specific parcel of real estate complete enough for an independent surveyor to locate and identify it. Survey. Details of a property are gathered, boundaries are measured and land areas are determined; position of a house on a lot.
Real estate is a form of real property, meaning that it is something you own that is attached to a piece of land. It can be used for residential, commercial or industrial purposes, and typically includes any resources on the land such as water or minerals.
Final answer: Courts generally prefer the Metes and Bounds system for the legal description of properties because it provides a detailed and precise outline of property boundaries.
