When you rent out or sell a home or piece of land, you need a formal account of the property. You can add a formal explanation to your lease with our Lease Agreement.
When you rent out or sell your home as a landlord or homeowner, you will need to give a formal account of the property. This legal description protects you in case you have a legal disagreement with a renter or after you sell a property. A formal account of real property can be used to find, identify, and explain land that is being sold or given to someone else.
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What does the legal name of real property mean?
Real property is anything that is connected to the land or is built into it. The land itself will also fit into this group. The goal of a legal description of property is to give enough information about a piece of land so that it can be found using only the information in the legal description. This usually means using strict names that will not change over time.
Landlords can use our Lease Agreement, which makes it easy to add a legal statement to a lease.
Writing a property’s legal description
Always have a real estate agent write up a formal account of the property. This will help you make sure that your description follows all local and government rules and is legal.
Tells about the land
The hardest part of the process is writing down what the land looks like. Legal representations of real land can be done in a number of ways, such as:
This is the most common form of fractional designation. Rectangular measuring is used in a fractional name to correctly describe the land in parts.
Metes and Bounds: This way of describing a place uses things like streets and rivers to show where the north, south, east, and west points are.
Lot and Block Survey is the most recent way to describe land. This divides the land into plots or blocks to show where the edges are.
The purpose of the land description is to show all of the edges of a certain piece of land.
the amount of land
Most real estate deals will show the amount of land, in acres, that comes with the property. Usually, the size of a building is given in square feet. Most of the time, the size of the land is not important because a land survey will show where the land ends and where it starts.
A street location is not needed in a formal statement of real land. Since street names and addresses can change, a street address is usually only used to describe a home’s present location. If there is a wrong address, it will have to be taken off.
For a good formal definition to be made, a poll will have to be done. When you need a formal summary made, the best person to ask for help is a real estate lawyer. If you do not give a proper description, you, as the seller, may find that your sale was invalid because the land was not described correctly.