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”