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14 Cards in this Set
- Front
- Back
- 3rd side (hint)
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What are the 3 essential reasons for the description of real property?
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1) To specifically IDENTIFY and LOCATE areas of real property ownership.
2) To SATISFY buyers who are interested in the precise dimensions and area of their property. 3) To MINIMIZE land description DISPUTES between neighbors by establishing set boundary lines. |
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What does the law require of every parcel of land sold, mortgaged, or leased?
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That they must be Properly described or identified.
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Legal descriptions are usually derived from a civil engineer or a surveyor.
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Where can recorded descriptions of real property be found?
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1) Title insurance policies
2) Deeds 3) Deeds of trust 4) Mortgages |
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What are the 3 present-day methods for the LEGAL location and description of land?
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1) Lot, Block, and Tract system
2) Metes and Bounds system 3) U.S. Section and Township system (U.S. government survey) |
LBT
MB ST |
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What's a Subdivision?
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Large parcels of land divided into smaller parcels.
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When you see subdivisions, think of the LBT system.
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What's a parcel?
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n._ An extended area of land.
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What does the California Subdivision Map Act require?
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That all new subdivisions be mapped or platted.
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Plat n._ A map showing planned or actual features of an area (streets, buildings lots, etc.)
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What must happen to new subdivision maps?
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EACH new subdivision map must be filed at the recorder's office of the county in which the subdivision is located. It will then be broken down into the LBT system.
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When the map is filed, the subdivision will be assigned a tract name and/or number. Legal descriptions are then made; the subdivision will be broken down from Tract to Blocks to Lots.
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Site an example of a description using the LBT system?
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"All of lot 4 in Block A of Tract number 2025 in the city of Bellflower, Los Angeles County California. As per map recorded in Book 76 page 83 of maps in the office of the recorder of said county."
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This type of IDentification is commonly found in URBAN areas of CA, where extensive subdividing has taken place.
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When is the Metes and Bounds system most often used?
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When the property's not in an existing subdivision map OR when the property's so irregular in shape that it's impractical to describe it under the township and section system.
It is used both in rural and urban areas. |
Metes refers to measurement in length.
Bounds refer to the use of boundaries (natural and artificial) (e.g. rivers, roads, fences, boulders, creeks, iron pipes, etc.) |
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What are the 5 basic types of Property Transfers?
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Methods for acquiring property: was To.
Transfer(5). 1) Private Grant 2) Public Grant 3) Gift 4) Public Dedication 5) Court Action |
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What is a Private Grant?
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Methods for acquiring property: was To.
Transfer(5). When an owner Voluntarily conveys his ownership rights to another. The instrument used to transfer property here is a DEED. |
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What is a Public Grant?
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Methods for acquiring property: was To.
Transfer(5). When a governmental agency deeds property to an individual or institution. |
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What is the Preemption Act of 1862?
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Methods for acquiring property: was To.
Transfer(5). Public Grants. It allowed persons living on federal land (aka squatters) to acquire 160 acres for a small fee. |
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