Real Estate Chapter 9 Flashcards

Real Estate Chapter 9 Flashcards 5,280 feet in a mileone side of a section monumentsare fixed objects used to identify the POB, the ends of boundary segments or the location of intersecting boundaries. can be a natural object (such as large tree, lake, or stream) or man made (streets, fence, canal) or markers (concrete posts) placed by surveyors.measurements often include the words "more or less" because of the location of the monuments is more important than the distances given in the wording spot surveywhen a survey shows the location, size, and shape of buildings on the lot metesmeans distance Land in the northwest corner of Illinois is described with reference to which principal meridian?The answer is fourth. The fourth principal meridian runs through the northwest corner of Illinois.A woman purchased 4.5 acres of land for $78,400. A man who owns adjoining property wants to purchase a strip of the woman's land measuring 150 feet by 100 feet. What should this strip cost the man if the woman sells it for the same price per square foot she originally paid for the property?The answer is $6,000. 4.5 × 43,560 = 196,020; $78,400 ÷

196,020 = 0.40; 150 × 100 = 15,000; 0.40 × 15,000 =

$6,000.

each township is given a legal description includes: designation of the township tier in which the township is located, designation of the range strip, name or number of the principal meridian for that area fractional sectionsundersized and oversized sections, can happen for a number of reasons such as different survey crews or part of the lot being under water lot and block survey is performed in 2 steps 1. a large parcel of land is described either by metes and bounds or by rectangular survey. once this large parcel is surveyed, its broken into smaller parcels. as a result a lot and block legal description is always a smaller part of a metes and bounds or rectangular survey description The section due west of Section 18, Township 5 North, Range 8 West, is The answer is Section 13, T5N, R9W. To determine the location and size of a property described in the rectangular survey style, start at the end and work backward to the beginning. In other words, analyze the legal description right to left.A property contains 10 acres. How many lots of not less than 50 feet by 100 feet can be subdivided from the property if 26,000 square feet are dedicated for roads?The answer is 81. 10 × 43,560 - 26,000 ÷ 5,000 = 81.92, rounded to 81.sectionseach township contains 36 sections, each section is one square mile, or 640 acres. sections are numbered 1 thru

• section 1 is always in the northeast or upper right hand

corner, numbering is right to left, then drop down and continue left to right.

correction linesbecause the earth is round and the lines run straight the system compensates for this round earth problem with correction lines. every 4th township line, both north and south of the base line, is designated a correction line metes and boundsoldest type of legal description, relies on the property's physical features to determine the boundaries and measurements of a parcel A parcel of land is 400 feet by 640 feet. The parcel is cut in half diagonally by a stream. How many acres are there in each half of the parcel?The answer is 2.94. 400 × 640 ÷ 2 = 128,000 ÷ 43,560 = 2.94 A buyer purchased a one-acre parcel for $2.15 per square foot. What is the selling price of the parcel?The answer is $93,654. 43,560 × $2.15 = $93,654 surveythe process by which boundaries are measured by calculating the dimensions and area to determine the exact location of a piece of land datuma point, line or surface from which elevations are measured or indicated. a surveyor would use a datum in determining the height of a structure or establishing the grade of a street Fractional sections in the rectangular survey system along the northern or western borders of a check that are less than a quarter-section in area are called government lots. Undersized or oversized sections are called fractional sections. Fractional sections may occur for a number of reasons. Areas smaller than full quarter-sections were numbered and designated as government lots by surveyors.principal meridiansrun north and south 43,560square feet per acre base linerun east and west When surveying land, a surveyor refers to the principal meridian that is within the rectangular survey system area in which the land being surveyed is located. The rectangular survey system

is based on two sets of intersecting lines: principal

meridians and base lines. Each principal meridian and its corresponding base line are used to survey a definite area of land, indicated on the map by boundary lines.township tierslines running east and west, parallel to the base line and six miles apart. they form strips of land. designated by consecutive numbers north or south of the base line rectangular survey systemestablished by congress in 1785 to standardize the description of land acquired by the newly formed federal government. this system is based on two sets of

intersecting lines: principal meridians and base lines

metes and boundsalways starts at a designated place on the parcel called the point of beginning (POB), boundaries are recorded by referring to linear measurements, natural and artificial landmarks (called monuments) and directions. it always ends back at the POB

In describing real estate, the system that uses feet, degrees, and natural and artificial markers as monuments is metes and bounds. The metes-and-bounds method is the oldest type of legal description (metes means distance and bounds means compass directions or angles). The method relies on a property's physical features to determine the boundaries and measurements of the parcel. The boundaries are recorded by referring to linear measurements, natural and artificial landmarks (called monuments), and directions.The legal description "the NW¼ of the SW¼ of Section 6, Township 4 North, Range 7 West" is defective because there is no reference to a principal meridian. Each township is given a legal description. The township's description should include designation of the township tier in which the township is located, designation of the range strip, and name or number of the principal meridian for that area.benchmarkspermanent reference points that have been established throughout the US, usually embosses brass markers set into solid concrete or asphalt bases. while used to some degree for surface measurements, their principal use is for marking datums To keep the principal meridian and range lines as near to six miles apart as possible, a correction called a government check is made. How large is a government check?24 miles square. A government check is the irregular area created by correction lines; such an area is about 24 miles square.township squareswhen the horizontal township lines and the vertical range lines intersect, they form squares, they are basic units of rectangular survey system. townships are six miles square and contain 36 square miles (23,040 acres) lot and block systemrecorded plat system, system uses lot and block numbers referred to in a plat map filed in the public records of the county where the land is located. often used to describe property in subdivisions and urban areas.air lotscomposed of the airspace within specific boundaries located over a parcel of land sections are smaller than townshipstownship = 6 miles times 6 miles = 36 sections legal descriptiona detailed way of describing a parcel of land for documents such as deeds and mortgages that will be accepted in a court of law government lotsareas smaller than full quarter-sections were numbered and designated. these lots can be created by the curvature of the earth, by land bordering or surrounding large bodies of water, or artificial state borders rangesthe land on either side of a principal meridian is divided into six-mile-wide strips by lines running north and south, parallel to the meridian. they are designated by consecutive numbers east and west of the principal meridian.