Legal Description On Contract

Comments(7)

• 
  NancyChadwick19th May, 2004

  Different areas of the country use different systems. In PA, for instance, the legal description (which is recited in the deed) consists of metes and bounds (direction and degrees, minutes, seconds). A local title company can tell you what system is used in your state. In any event, I would further describe the property by parcel number, lot and block--whatever info the assessor's database includes for the property, and I'd put this in the purchase contract.

• 
  commercialking19th May, 2004

  Each property has a legal description which sets it apart from all other parcels on the planet. A surveyor can, following only the legal description, tell where the boundries of the property are.
  
  The description is originally set forth when the developer divides the lot from a larger parcel and that description is recorded in the county recorder of deeds office (or whatever local title has this function) as part of a plat of subdivision. Thenceforth the description carries forward each time the title is transferred.
  
  Most of the time on contracts it is sufficient to merely give the common address and specify that the legal description is to be inserted within x days after execution by the sellers attny, or some other competent person.

• 
  NancyChadwick19th May, 2004

  commercialking,
  
  Call me cautious, but I think whatever identifying info (legal description, tax plat, etc.) should be contained in and/or attached to the purchase contract at the time it is signed. I've always done this with clients, and so far, have avoided being involved in the type of situation just recently posted on this site:
  
  http://www.thecreativeinvestor.com/ViewTopic27862-26-18.html
  
  Nancy

• 
  melissa19th May, 2004

  Usually the Recorders Office will copy the Legal and attach it to the Deed for you if you ask and pay the small copy fee.
  
  Otherwise, what did the seller really give you title to?
  
  Ed

• 
  commercialking19th May, 2004

  Of course you are right Nancy, especially when dealing with raw land as you usually do. I buy mostly in the city and usually the street address and an agreement to insert the legal during the attny's review period is adaquate-- though not the cautious- way to go.

• 
  Boston20th May, 2004

  "Ditto" on commercial talking's post for property in Boston.

• 
  NancyChadwick20th May, 2004

  Being a firm believer in Murphy's law...
  I feel that the more information that's in the agreement (at the time it is fully signed) that uniquely identifies the property in question, the lesser the likelihood of somebody buying or selling the "wrong" property.
  
  Lawyer review periods are not the norm here. The parties don't sign contracts that give them an out if their attorneys don't like them. Attorneys for land buyers and sellers here crank out agreements or review agreements being negotiated in very short periods of time.
  
  I have seen improved real estate misidentified though not urban properties.