term1 Definition1term2 Definition2term3 Definition3
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Physical
1. Immobile
2. Indestructible
3. Unique or non-homogeneous
Economic
1. Scarcity
2. Improvements
3. Permanence of investment
4. Area Preference, or situs
Metes and Bounds
Locating the boundary of the property; need two permanent reference markers (PRM). Find specific point of beginning (POB) and measure around PRM's and back to POB.
Rectangular (Government) Survey
Base Lines run East and West; Principal meridians run North and South.
Designed to set of checkerboard pattern of squares over a specific area.
Rectangular (Government) Survey Cont...
Parallel vertical lines six miles apart called Ranges; Parallel horizontal lines six miles apart called Tiers.
This pattern form townships;
a) Township = six miles square (36 miles).
b) Township contains 36 sections; Each section is one square mile and contains 640 acres.
c) 1 acre = 43,560 square ft.
Rectangular (Government Survey Continued 2
Subdivision plat - map containing numbered blocks and lots.
Street Address - an informal reference.
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