What term is used to describe the legal means of identifying unique parcels of real estate?

Study for the ASU REA380 Real Estate Fundamentals Exam. Use flashcards, multiple choice questions, and get hints and explanations for each question. Prepare thoroughly for your exam!

The term "Legal Description" is used to describe the precise and legally recognized way to identify unique parcels of real estate. This description provides a clear and unambiguous method of defining a property’s boundaries, ensuring that there is no confusion regarding its location or extent. Legal descriptions can take various forms, including metes and bounds, rectangular surveys, and lot and block systems.

Utilizing a legal description is crucial in real estate transactions, property taxation, and in legal matters regarding property rights because it ensures that every parcel is distinguishable from others. This is particularly essential for resolving potential disputes over property boundaries and ownership, as an accurate legal description helps to provide clarity and enforceability in legal contexts.

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