Tulsa Real Estate Agents | Bring the Boom

Okay, today we’re going to talk about land descriptions and for me, land descriptions is some of the most confusing pictures of information, I’ve ever learned in Tulsa Real Estate Agents and but it’s kind of important. So there are some things are possible estate agent needs to be aware of, and it’s really three different types of methods that describe real estate, and sometimes people will say well. Why do I need to understand what lot and block are or what the government survey is or metes and bounds? Well, it all deals with legal descriptions and how to tell where a piece of property is located and its very specific, so we’re just going to cover the three different methods on how to describe real estate in the first one is metes and bounds and metes and bounds is not very common, and it’s it’s really something that we don’t really use lot and block is something that real estate today is what we use in order to describe Tulsa Real Estate Agents like a neighborhoods, but I’m meeting is just kind of like very old, and it was definitely founded. I think it was back whenever the 13 colonies were discovered. If that tells you how old it is it it’s pretty much your heart to even describe, but there’s a point of beginning and a point of end and I’m not going to go into it too much, since it’s not really a any useful information that we didn’t need to know just know. That means the balance of something that we used a long long time ago, and we don’t really use that anymore. The other method would be the right triangular, survey, system, and sometimes people will call it the government survey system. This has to deal with our principal at meridian’s and and townships, and so throughout the united states. We have principal meridians and they run north and south and there’s one specifically that runs pretty much through green country in oklahoma. I can’t remember the name of it, but it is a meridian and we use the meridian as a guideline and two to describe a real estate is so the the meridians run north and south, and then there’s bass lines that will run east and west and there’s also township lines like tears in the township lines, go east and west and there’s range lines that go north and south. So this can kind of get just a little bit confusing, but in a township there are at the township is really 6, mile square when it when were talking about how large it is, and it contains 36 square miles. So that’s actually square miles is going to be a total of about 23040 acres within a township and there’s also sections within townships, and there are 36 section to be exact. They start with number one and they run to 36 and it always starts from the right and goes left and then goes down. So it is a numbering sequence to determine where a piece of property is and a tulsa real estate agent does need to be aware of how to determine where something is in a section and how many acres are in a section. They definitely will be tested on that when they get their license. So within section 16 member there’s, 36 sections sex section, 16 is always reserved for the schools in there. In section, 16 is sorta in the middle of this big square and the reason why they doesn’t needed that section for a school is because it’s going to be more centrally located to where everybody is living. So 16 is the school section. Sections are divided in tempe, so 640 acres, you divide that into half. That’s each half has 320 acres, and then you divide this house into quarters, which is a hundred sixty acres, so I told her real estate. Agent will need to be aware of how many acres are in a section or in a half of the section are in 1/4 of section in progress, you’re, just breaking it down into sections and in the whole point of this is to determine where a piece of property is so sometimes you will see at in property descriptions on the mls like in the southeast corner of the northwest corner, it’s 10 acres square and they’re, really trying to it’s a difficult waited to to define, where a piece of property is and there’s a lot of math involved. If you want to get technical about it, the one that we use more than anything is the lot and block method. This is the main when we use where we get our league legal descriptions and legal descriptions are a part of your tax records. It’s a part of your Tulsa Real Estate Agents contract when you are making an offer when you were buying a piece of property, you have a lot and block system, so it’s also referred to as a plat map, so it is used mainly in subdivisions and urban areas, so you’re not really using the lot and block system and out in the country in a rural area. So it’s going to be mainly subdivisions anytime. That I am listing a piece of property for one of my clients. I have to know what the legal description is and for me to be able to find that i. Look on the courthouse tax records to get that information. So it’s very important because this is how we find a large piece of land and it’s either going to be described in metes and bounds, which would be more of a rule area which is not really commonly used, or it’s going to be found in the lot and block survey system. So there’s it’s very add tedious and there’s a lot of information that and it’s really a lot of boring information. So we might just go ahead and move on away from land descriptions and talk about transferring titles and what kind of requirements are needed in order to have a valid deed.┬áTulsa Real Estate Agents

So so there’s a grantor and a grantee. A grantor is someone who is actually giving the land and the grantee is someone who is at being identified as the receiver and there’s usually, some sort of consideration always consider when you’re, giving or selling a piece of property-and it doesn’t always have to be money I tossed a real estate agent needs to be aware of that. Consideration could be handshake or it could be verbal. You don’t have to always be giving away money, but there has to be some sort of consideration listed on a d2 in order for it to be valid and there’s also a granting clause on the deed, and that’s just how are they convene this deed? That kind of goes back to the determiner determinable indefeasible? How? How are we doing this? How am I giving this to you? It also has to be notarized, which is also a knowledgement and the signature of a grantor person. Who is giving the deed away it’s funny, because the grantee who’s receiving the d does not have to be valid, just the grant, where the delivery of the deed and has to be accepted by the grantee in order for it to be valid as well? So we talked about the grant where you do have to be at least 18 if you aren’t giving property away. So that’s very important for Tulsa Real Estate Agents in so like if you have someone who owns or says it on a piece of property and they’re, not 18. That means they’re not legally competent legal age. Yet so that’s a real estate agent should be aware of someone’s age and, honestly, you always look at the tax records. Anyway, you don’t sell a piece of property if the tax record shows the owner to be somebody other than who you’re working with that would not be legal or waffle and the author, you also have to be in the right, sound mind. In order to sell a property, there are different types of deeds and those are a general warranty, deed, special warranty, deed, a bargain and sale deed. A quitclaim deed, deed of trust seem trustee’s deed, so Tulsa Real Estate Agents It needs to be aware of the differences in what these deeds mean and one of the strongest deeds, the one that gives you the most guarantee on a warranty would be the general warranty deed. Those are definitely the strongest things that you need to be aware of. Emma Tulsa Real Estate Agents needs to be aware of a special warranty, deed, special warranty deed does not give you full guarantee that there’s nothing wrong with a property. It just means that there was nothing wrong with it when I owned it, but if there’s a cloud on the title that can go back to like 20 years ago, it wouldn’t necessarily give you any type of warranty. If your purse purchasing that piece of property, the worst kind of need would be a bargain and sale deed and there’s just no warranty against any kind of encumbrances whatsoever. So it’s also real estate. Agent needs to be aware that hey if this is a warrant, bargain and sale deed, this is horrible and you might not want to purchase this piece of property because you have no guarantees that there’s no problem with the deed. That probably the absolutely worst need is a quick claim, deed, I’m, a lot of times, I quit claim deed is used if what’s a someone’s getting a divorce and the husband is going to take his name off. You sign a quit, claim deed and take it off. There’s no types of warranties. Without that you’re not going to use a quit claim deed very often so┬áTulsa Real Estate Agents