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Joe LaVallie

Fee simple and survey

Friday, August 17, 2012 - Article by: Joe LaVallie - HomeStreet Bank - Message

Let's talk a little about fee simple and legal description in Seattle.

Fee simple is a description of ownership to a property that enables the owner to sell or convey the property with out many restrictions.

The Legal description of a property is the legal description of the property. There are different types of legal descriptions and the age of the parcel of land is also important in the consdering the legal description. If you have a new house in a plat you can assume that the description is correct. If you are purchasing a high dollar per foot property like waterfront you need to pay more attention to the legal description.

Anytime you have a property that is valued per foot of frontage make sure to check the legal description along with a physical inspection of the property. If there are any questions a survey can save you money down the road.

The three basic types of land descriptions used in the US are:

Lot and block

Metes and bounds

US public land servey system.

If you have any questions please feel free to email me at

joe.lavallie@homestreet.com

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