We are hanging out with Whatcom Land Title Company today!
Legal Description Training
Bellingham, WA 98226
We will learn:
What is a legal description?
2 types of legal descriptions
Rectangular Survey System explained
How does this information benefit a realtor? (why should be here, friends!)
The transfer of real property is the reason there are brokers. The legal description describes the real property and it’s a broker’s job to understand what is being bought and sold. An address doesn’t legally describe a property therefore, it’s in the best interest of a broker and his/her clients that he/she is familiar with the basic understanding of a legal description.
How does a legal description impact a transaction
Without a legal, we are only guessing as to what is being conveyed. If the wrong legal or incomplete legal is used, it can invalidate the contract. If a title company isn’t given the proper legal, the wrong property could be examined causing delays in the closing. If a realtor doesn’t attach a legal to the listing, they can be fined. If there is an error in the legal, it can invalidate or stall the closing.