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10 Cards in this Set

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Element of Valid Deed:
Is an accurate, acceptable, legal description of the land being conveyed.
Legal Description:
Is an exact way of describing real estate in a contract, deed, mortgage, or another doc, that will be accepted by a court of law.
Four Basic Methods of Describing Real Estate:
1. Gov't survey - not used in nc so don't worry bout it.
2. metes and bounds:
3.Ambiguity:
4. Reference to any doc. that is recorded:
Metes and Bounds:
P.O.B.
Primary way to describe prop. in NC.
Starts at point of begining goes around perimeter of prop. and ends back at P.O.B. Uses calls to get around prop.
Calls:
Uses distance, directions, and monuments.
Starts at North or South
Monuments:
Are fixed objects used to establish real estate boundaries.
Ambiguity:
is a description with two diffent parts:
Latent: or long--- is a lengthy description of prop. that COULD validate the deed.
2. PATENT: or poor-- Not enough info, doesn't have specific prop. onfo. Will NOT validate
Reference to a recorded plat:
Best if used for subdividers or condos when using lot # and most used by them for daily use. They use lot and block numbers. Reference to as plat
Plat Map:
Is the first step in subdividing land is the prep. of the plat map. It is the visual of the way you want that condo to be layed out
survey
The process by which boundaries are measured and land areas are determined. The on site measurement of lot lines, dimensions and positions of house on a lot, including exsisting encroachments or easements are all taken into determinging