A formal depiction of the dimensions and location of a property; generally included in deeds, leases, sales contracts, and mortgage contracts for real property. Different methods such as government rectangular survey, lot and block, and metes and bounds are used for legal descriptions and plats.
A rectangular system of land survey that divides land into specific structures for easier identification and management, using meridians, baselines, townships, and sections.
A loan application is a necessary document required by a lender before issuing a loan commitment. It includes key details such as the borrower's personal information, loan amount and terms, property description, and financial and employment data.
A meridian is a longitudinal reference line that traverses the earth in a north-south direction. All meridians circle the earth through the equator and converge at the north and south poles. They are used by surveyors in describing property under the government rectangular survey method.
A property description provides a detailed summary of the features, boundaries, and legal status of a particular real estate property. It ensures accurate identification and transference of property rights.
