Ch. 1 Terms Flashcards
3 PHYSICAL characteristics of land
Immobility
Non-Homogeneity (unique)
Indestructibility
Situs
Location, location, location.
Economic characteristics of land
Situs, Improvements, Scarcity
Fixed Investment
Improvements that are made with the intent of lasting a long time.
Scarcity
The less available land where needed, the more valuable the land.
Spot Survey
Process of locating the exact boundaries, shape, and area, as well as the improvements on the land.
Plat of Survey
Shows location and boundaries of a land parcel and may show subdivision.
Metes and bounds
Identifies the parcel by describing its boundaries. in GA Metes and bounds description are only used for undeveloped land.
Metes
Distance and direction
Bounds
Landmarks or monuments
Artificial monuments
Man-made stakes, metal pins, concrete markers, roads, walls or fences
Natural monuments
Trees, rocks
Benchmark
Point of beginning (metes and bounds)
T/F
Metes and Bounds description is the best method to use to describe an irregularly shaped lot
True
Rectangular Survey/Government survey
NOT USED IN GEORGIA!
North-south lines are Principal Meridians
Characteristics of Rectangular Survey/Gov’t survey
Meridian, survey, baseline.
Baseline
East to west
Principal meridians
North-south
Township
36 square miles
Section
(inside the township) 1x1 square mile
How many sections are in 1 township?
36
what is the size of 1 section of land
640 acres
Calculate square feet
Length x Width
Convert square feet to acres
divide by 43,560
Recorded Plat (Short form)
Legal Description used in Ga.
Land is divided into blocks
Blocks are divided into lots.
Vertical Land Description
Used for the description of air lots
Datum
A point from which height or depth can be measured.
Topographic/Contour
Map showing the shape of the earth’s surface.
Three cases where the legal description can not be used.
- Seller isn’t selling the entire tract of land
- Seller has previously sold part of the land
- when a recent survey in in conflict with the description on the deed.
