Real Estate Course Unit 5 Flashcards

Real Estate Course Unit 5 Flashcards The section marked A is which of the following?A) Government lotB) Section 31C) Section 36D) School section The answer is Section 36. Starting with the upper left corner as number 1, sections of a township are numbered right to left, left to right, right to left, and so on until reaching number 36.MonumentsMonuments are traditionally used to mark surface measurements between points. A monument could be a marker set in concrete, a piece of steel-reinforcing bar (rebar), a metal pipe driven into the soil, or simply a wooden stake stuck in the dirt. Because such items are subject to the whims of nature and vandals, their accuracy is sometimes suspect. As a result, surveyors rely most heavily on benchmarks to mark their work accurately and permanently.What are the three basic methods currently used to describe real estate?Metes and boundsRectangular (or government) surveyLot and block (recorded plat) SectionsTownships are subdivided into sections and subsections called halves and quarters, which can be further divided.Each township contains 36 sections. Each section is one square mile or 640 acres, with 43,560 square feet in each acre. Sections are numbered 1 through 36, as shown in Sections in a Township. Section 1 is always in the northeast, or upper right-hand, corner. The numbering proceeds right to left to the upper left-hand corner. From there, the numbers drop down to the next tier and continue from left to right, then back from right to left. By law, each Section 16 was set aside for school purposes, and the sale or rental proceeds from this land were originally available for township school use. The schoolhouse was usually located in this section so it would be centrally located for all the students in the township. As a result, Section 16 is commonly called a school section.Metes-and-bounds MethodA method used to describe a parcel of land that begins at a well-marked point and follows the property's boundaries, using directions and distances around the tract, back to the place of beginning. The metes-and-bounds method of land description is the oldest found in the United States, and it was used in the original 13 colonies, as well as in those states that were being settled while the rectangular survey system was being developed. Metes means to measure, and bounds means linear directions. The method relies on a property's physical features to determine the boundaries

and measurements of the parcel. A metes-and-bounds description starts at a designated place on the parcel, called the point of beginning (POB). The POB is also the point at which the description ends. From there, the surveyor proceeds around the property's boundaries. The boundaries are recorded by referring to linear measurements, natural and artificial landmarks (called monuments), and directions. A metes-and-bounds description always ends back at the POB so that the tract being described is completely enclosed.The basic units of the rectangular survey system areA) the ranges.B) the principal meridians.C) the base lines.D) the townships.The answer is the townships. Townships are the basic units of the rectangular survey system. Principal meridians and base lines are the two sets of intersecting lines in the system. Ranges are the 6-mile strips of land on either side of a principal meridian.A buyer purchases 4.5 acres of land for $78,400. An adjoining owner wants to purchase a strip of this land measuring 150 feet by 100 feet. What should this strip cost the adjoining owner if it is sold for the same price per

square foot originally paid?A) $7,800B) $9,400C) $3,000D)

$6,000

(D) The answer is $6,000. Price divided by area (in square feet) gives cost per square foot. The area is 4.5 times the size of one acre, or 4.5 × 43,560 sq. ft. = 196,020 sq ft.Then, $78,400 divided by 196,020 sq. ft. = $0.3996

(essentially, $0.40) per square foot. Determining the purchase price of a 100-by-150-foot lot at the same cost

per square foot requires finding the area of the lot: 100 ×

150 = 15,000 sq. ft.. Multiply this area by $0.40: 15,000 sq.

ft. × $0.40 = $6,000.Which of the following are NOT basic components of a metes-and-bounds description?A) Base lines, principal meridians, and townshipsB) Tangible and intangible monumentsC) Points of beginningD) Degrees, minutes, and seconds The answer is base lines, principal meridians, and townships. Base lines, meridians, and townships are elements of the rectangular survey system, not the metes-and-bounds system.Which of the following is Section 6?A) CB) BC) AD) DThe answer is C. Starting with the upper left corner as number 1, sections of a township are numbered right to left, left to right, right to left, and so on until reaching number 36.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 were dedicated for roads?A)

82B) 81C) 83D) 80

(B) The answer is 81. The area of ten acres in square feet

is figured as follows: 10 acres × 43,560 sq. ft. = 435,600

sq. ft.. Reserving 26,000 square feet for roads leaves 409,600 square feet. The area of each lot is to be not less

than 5,000 square feet: 50' ×100' = 5,000 sq. ft.. Divide the

available square footage by the square footage needed for

each lot: 409,600 sq. ft. ÷ 5,000 square feet = 81.92.

Because each lot must be "not less than 50 feet × 100 feet," the property can be subdivided into 81 such lots When a survey also shows the location, size, and shape of buildings on the lot, it is called a spot survey.TrueFalse True When surveying land, a surveyor refers to the principal meridian that isA) in the same state as the land being surveyed.B) within the rectangular survey system area in which the land being surveyed is located.C) furthest from the land being surveyed.D) not more than 40 townships or 15 ranges distant from the land being surveyed.(B) The answer is within the rectangular survey system area in which the land being surveyed is located. No matter how many ranges or tiers it takes, the description must always refer to the principal meridian and the base line of the survey system area in which the land being described is located.How many acres are contained in the tract described as "beginning at the NW corner of the SW¼, then south along the west line to the SW corner of the section, then east along the south line of the section 2,640 feet, more or less, to the SE corner of the said SW¼, then in a straight line to the POB"?A) 80 acresB) 90 acresC) 160 acresD) 100 acres (A) The answer is 80 acres. The area described is a triangle formed when a quarter of a section is cut from one corner to the opposite corner. A section has 640 acres, a quarter-section has 160 acres, and half of that quarter has 80 acres.What are the differences between a survey and a survey sketch?The survey sketch shows the location and dimensions of the parcel. When a survey also shows the location, size, and shape of buildings on the lot, it is referred to as a spot survey.rangesThe land on either side of a principal meridian is divided into six-mile-wide strips by lines that run north and south, parallel to the meridian. These north-south strips of land