Economic and Physical Characteristics of Real Property Flashcards
Immobility, indestructibility, and uniqueness are all examples of what kind of characteristics
Physical characteristics
What are the two characteristic categories of real estate
Physical and Economic
what method of land description is used mainly in urban and suburban areas for subdivided land
Lot and block
What are the three most commonly used legal description systems used to describe land in the U.S.?
Lot and block
Metes and bounds
Rectangular survey system
Uses monuments, compass headings, and directions
Metes and bounds
Divides land into six-mile-square townships, which can then be further divided
Rectangular government survey
what is the direction and distance of a line forming the boundary of the property called
metes
what refers to the physical features that define the boundaries of the land
bounds
true or false
Either a metes and bounds or a rectangular survey description is always the starting point for a lot and block survey.
true
true or false
The lot and block system includes numbered or lettered blocks and lots.
true
true or false
The lot and block system doesn’t include lot measurements or distances.
false
How large is a section used in the rectangular survey system?
640 acres
how many square feet are in a square yard
9
What information is used in a lot and block legal description to identify the property?
Street name and number
