Description
A description is a statement that explains or delineates specific details about a subject. In broad terms, it can be used in various contexts such as job descriptions, product descriptions, or procedure descriptions. In the realm of real estate, a description usually refers to a formal delineation of the dimensions and location of real property. This is a critical part of legal documents such as deeds, leases, sales contracts, and mortgage agreements.
Detailed Breakdown:
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Job Description: Defines the roles, responsibilities, qualifications, and expectations for a specific job role within an organization.
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Real Estate Description: This includes the specific dimensions and location of a property and is essential for legal purposes. Several standardized methods exist to describe a property accurately:
- Government Rectangular Survey: Utilizes a grid system of townships and ranges to define large plots of land.
- Lot and Block: Commonly used in subdivisions. Relies on a recorded map, or plat, to define individual lots within a subdivision.
- Metes and Bounds: Describes a parcel by its boundary lines, using measurements (metes) and physical features (bounds).
Examples:
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Job Description:
- “The Software Engineer will develop, test, and maintain software applications in compliance with company standards.”
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Real Estate Description:
- “Lot 12, Block 3, within the subdivision known as Granite Hills, recorded in Book 17, Page 223 of Maps.”
- “Beginning at a point on the North line of Main Street, 200 feet East of the intersection with North Avenue, then running North 150 feet…”
Frequently Asked Questions (FAQs):
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What is the importance of a property description in real estate?
- A property description ensures legal clarity by precisely describing the land in question, avoiding disputes about property boundaries and ownership.
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Are property descriptions and addresses the same?
- No, addresses are a convenient way to locate a property, while descriptions provide detailed legal delineations essential for legal documents.
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What is a plat in real estate?
- A plat is a map, drawn to scale, showing the divisions of a piece of land. It is often referred to in the lot and block system.
Related Terms:
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Government Rectangular Survey: A method of land description utilizing principal meridians and baselines, forming a grid of townships and ranges.
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Lot and Block: A parcel identification method involving a detailed map, often used for subdivisions.
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Metes and Bounds: A system of describing land by specifying the boundary lines with reference to physical features and measurements.
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Plat: A map documenting the subdivision of land, showing lots, blocks, street names, etc.
Online Resources:
- National Society of Professional Surveyors (NSPS)
- U.S. Geological Survey
- American Land Title Association (ALTA)
- Real Estate Law Blog
Suggested Books for Further Studies:
- “Principles of Real Estate Practice” by Stephen Mettling, David Cusic
- “The Essentials of Real Estate Law” by Lynn T. Slossberg
- “Real Estate Law” by Marianne M. Jennings
- “Real Estate Principles: A Value Approach” by David C. Ling, Wayne R. Archer
Fundamentals of Real Estate Description: Real Estate Basics Quiz
Thank you for exploring the intricacies of real estate descriptions and challenging yourself with our informative quiz. Keep enhancing your understanding of property law and real estate practices!