They can also identify encroachments of a neighbor and/or identify easements. The survey will be conducted on site to measure boundaries, lot lines, distances and the area of a property. If you are in real estate for any amount of time you will need to be familiar with all forms of legal descriptions created from the survey. Legal Description – “Attached hereto as Exhibit A.” Types of Legal descriptions: Sometimes formal legal descriptions can be quite lengthy, so they might be attached as an exhibit on the Purchase and Sale Agreement. Looking more closely, there will also be a fill-in section where the necessary formal legal description is inserted.
Most Purchase and Sale Agreements contain a fill-in section where the common street address of a property is inserted. Since a formal legal description is required for a valid contract, it must be accurate. Legal descriptions in real estate contracts: Therefore, formal legal descriptions are necessary for a valid contract, conveying title, or recording any instrument for real property. Title companies and the courts will not recognize documents that reference informal property descriptions like common street addresses. The acid test of a valid legal description is that a licensed surveyor can locate and identify the parcel using only the legal description. A legal description is the finished, stamped and recorded product. The first step in creating a legal description is a survey conducted by a licensed surveyor. It is important in land development to understand the role of legal descriptions and the different kinds that are commonly used. Understanding Legal Descriptions in Real Estate
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