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10 Cards in this Set
- Front
- Back
Element of Valid Deed:
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Is an accurate, acceptable, legal description of the land being conveyed.
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Legal Description:
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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.
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Four Basic Methods of Describing Real Estate:
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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: |
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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. |
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Calls:
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Uses distance, directions, and monuments.
Starts at North or South |
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Monuments:
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Are fixed objects used to establish real estate boundaries.
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Ambiguity:
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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 |
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Reference to a recorded plat:
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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
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Plat Map:
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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
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survey
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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
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