Deed Description
Definition of "Deed description"
Property description contained in a title deed. A deed description is intended to inform a reasonable person where property is located. It can be described by metes and bounds, by reference to a lot on a filed map by monuments, or by a government survey. A street address may be used, but it is not the best method. The deed description should also include any street rights, or rights of neighbors property. See also legal description.
Popular Real Estate Terms
"Gross Leasable Area" or GLA is more than just jargon. Understanding property value and potential income is super important, especially in commercial real estate. What does Gross Leasable ...
Lender's written assurance that the borrower has fully paid the obligation. The borrower may then show this instrument to interested parties. ...
Loan guaranty program included in the Servicemen's Readjustment Act of 1944. Its provisions cover the compensation to lenders for losses they might sustain in providing financing to ...
Provision in a loan agreement where a debtor authorizes a judgment against him in the event of a default. These agreements are widely restricted, but when they are lawful, the creditor is ...
Unintentional error. An example is a house that the seller wants $1,000,000 for but it is mistyped as $100,000. An error may be unilateral or mutual. Some types of errors are the basis to ...
Entrance or path to a land parcel. Passageway existing from property. An egress may lead to a roadway or some other form of exit. ...
The term mortgage amortization is the steady switch occurring to each mortgage payment between how much interest is covered and how much principal each month. Simply put, mortgage ...
A real estate broker who lists and sells houses or condominiums, as distinguished from a commercial broker who handles business property. ...
Property that is zoned for industrial use, including manufacturing, research and development purposes, factory office and warehouse space, and industrial parks. ...
Have a question or comment?
We're here to help.