What’s the real estate legal description that goes on a deed?
A real estate legal description for a deed is not made up of the glowing
words in a real estate marketer’s flyer — as grand as that would be! It is not
simply a street address, or a tax description copied from the home county’s
website. None of these make a deed legally able to transfer a piece of real
estate from one person to another.
A legal description is a precise, legally meaningful and
binding summary of a property survey. You can find it on the existing deed —
that is, the last deed used to transfer the property.
The legal description may have a border around it, or it might be
indented to make it easy to spot. Sometimes it appears on an attached exhibit,
incorporated by reference on the face of the deed. The description on a
mortgage agreement or title insurance commitment should match the legal
description on the deed.
Whenever an interest in property is transferred from one
party to another, the real estate legal description is representing the
property exactly. It is proof to lenders that the property is just as it’s shown
on the deed, to be valued accordingly. And it allows a future surveyor to
precisely trace a property’s angles, corners and borderlines.
It’s a hard rule that deeds have to include the property’s
complete legal description. Each county has specific requirements for how that
description is made, but the point is to submit the right description for the
deed being prepared. That might be all you really want to know!
But if you are curious about the main types of legal
descriptions, and the components that form them, read on.
Continue reading “Real Estate Legal Descriptions for Deeds”
transactions involving home sales, deeds, mortgage loans, or deeds of
trust all rely on a binding legal
description. Mortgage companies, for example, need to
be sure that the property is well described—and worth the money they
lend to a buyer.
written legal description sets forth the county and state of the property. It
allows a surveyor to
identify precise dimensions and correct, historical borderlines.
existing legal description is based on the original survey. And
a key task of the current survey is a verification of the accuracy of the
property’s legal description. In short, real estate legal descriptions and
surveys work together.
Continue reading “How Real Estate Legal Descriptions and Surveys Work Together”
What can the
buyer do when a real estate deed carries an incorrect legal description of the
property? Perhaps it describes the wrong parcel, or fails
to reflect all land purchased in the sale.
An error in
a legal description of a property has consequences. It can
affect taxes. As lenders extend loans based on a percentage of the
property’s appraised value, footage mistakes can sink a loan approval. If
the error is neglected, disputes can arise later, and they can become the
stuff of nightmares.
bear legal descriptions drafted using early survey methods, pre-dating GPS
measurements. Some have errors in lot descriptions that get passed unwittingly
from one owner to the next—a sort of legal time bomb waiting to take someone by
Continue reading “An Error in the Legal Description of the Deed: What Happens Now?”
In a real estate deed, a legal description of the real
property being conveyed is universally required to be present. The deed can
also include a reference to the recorded map, survey, or deed containing the
legal description in order to meet this requirement.
Continue reading “The Importance of a Legal Description in a Real Estate Deed”