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47 Cards in this Set

  • Front
  • Back
Abstract of title
summary or history of property conveyances
Assessed value
value on the tax rolls
Base line
major east-west lines in a rectangular survey system
Constructive notice
notice because of accessibility of public records, imputed by law
Corner influence
premium (loss) because a property is located on a corner as opposed to being an interior tract
Economic unit
a tract that is contiguous, has the same highest & best use and ownership
Excess land
surplus land not needed to serve an existing improvement or highest & best use of vacant land
Federal Emergency Management Agency (FEMA)
a governmental agency that publishes flood maps & is the vehicle for emergency preparation & management
property designated as flood prone
the linear measurement that abuts street, stream, etc.
Geodetic survey system
part of the rectangular survey system, large areas are mapped & topographic maps are published
Government survey system
the same as the rectangular survey system
Land or site analysis
study of factual data comparing it with the competing comparable sites
Land-to-building ratio
the ratio derived by dividing the land area by the building area
Legal description
a description of land adequate to locate the property & quantity of land
Lot & block system
overlaying imaginary lines on the earth surface by recorded plats
Metes & bound system
establishing a description of property by distance & direction
Off-site improvement
improvements to a property located out of the legal description (e.g. utility lines, roads, etc.)
On-site improvments
improvements located within the legal description of a tract
Point of beginning (POB)
the start of a meets and bounds desription
Plat book
a book with the records of ownership & description of each tract in an area
assemblage, the combining of two or more tracts often resulting in a different HBU than the individual tracts
Plottage value
the incremental value change by combining 2 or more tracts
Principal meridian
major north-south lines in a rectangular survey system
a topographic map published as part of the Geodetic Survey Program
Range line
north-south lines in a rectangular survey system
Raw land
improved or unimproved land
Rectangular (government) survey system
a system of land description established in 1785 where land was divided into rectangles for purposes of description
land ready for its intended use
Subdivision development analysis
an approach where land is valued based upon its use for residential use (or other) after dividing into smaller lots or tracts
Surplus land
same as excess land, except surplus land is often thought of as non-salable
Tax parcel
an identified property on the tax records
Total station
monuments that serve as benchmarks for land description
6 miles X 6 miles; 36 sections; a location on a line north or south of a base line
Township line
east-west lines in a rectangular survey system
land as set forth by section 404 of the Clean Water Act described as areas that are inundated by water that normally support certain type of vegetation
the last call in a metes & bounds description returning to the POB
the POB & all intermediate points
points that refer to specific stones, trees, etc.
Utilized land
land that supports existing improvements
Legal descriptions
1. Metes & bounds
2. Rectangular survey system
3. Lot & block
Base lines
E & W lines
Principal meridians
major N & S lines, each with a name
range lines
N & S lines every 6 miles
township line
E & W lines every 6 miles
rectangles formed by range lines & township lines= 36 sections
1/36 of a township; 1 mile square; 640 acres