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A unit of real estate or immovable property is limited by a legal boundary (sometimes also referred to as a property line, lot line or bounds). The boundary (in Latin: limes ) may appear as a discontinuation in the terrain: a ditch, a bank, a hedge, a wall, or similar, but essentially, a legal boundary is a conceptual entity, a social construct ...
In real estate, a land lot or plot of land is a tract or parcel of land owned or meant to be owned by some owner(s). A plot is essentially considered a parcel of real property in some countries or immovable property (meaning practically the same thing) in other countries.
A property legally described by a metes and bounds description may still be assigned a Tax Identification Number based on a separate Lot and Block system. In this case, a survey of all parcels in the county or municipality would be combined to create a separate Block and Lot system to identify the properties for taxation purposes.
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In surveying and property law, a land description or legal description is a written statement that delineates the boundaries of a piece of real property. In the written transfer of real property, it is universally required that the instrument of conveyance include a written description of the property.
The Public Land Survey System (PLSS) is the surveying method developed and used in the United States to plat, or divide, real property for sale and settling. Also known as the Rectangular Survey System, it was created by the Land Ordinance of 1785 to survey land ceded to the United States by the Treaty of Paris in 1783, following the end of the ...
A cadastre or cadaster is a comprehensive recording of the real estate or real property's metes-and-bounds of a country. [ 1 ] [ 2 ] Often it is represented graphically in a cadastral map . In most countries, legal systems have developed around the original administrative systems and use the cadastre to define the dimensions and location of ...
With property values strong in 2023, many homeowners tapped home equity lines of credit, pushing total HELOC balances up 6.6% Chris Horymski April 18, 2024 at 4:00 PM