It is reported that Thomas Jefferson woke up the morning after completing the famous Louisiana Purchase and muttered, " What did I just buy?" So, he hired a whole bunch of surveyors to figure it out.
Well, you might not have Jefferson's problem, nor did you just purchase one-third of the now United States, but you did purchase a plot of land, perhaps with a house, and you want to know "What did I just buy?"
Let us clear the air for you and help you understand these two terms.
Legal Description
Simply put, a legal description is the definition of the real estate bought and sold and is sufficient to identify it for legal purposes. It allows us to determine the size, shape, boundaries, and location of the parcel.
The technical term is "Legal Property Description" recognized by law as to the definite location of a track of land by reference to a survey, recorded map, or adjoining property.
Therefore, when preparing a deed, it is important to use the correct legal description.
There are two primary types of legal descriptions: lot and block and metes and bounds. Lot and block are used in subdivisions where metes and bounds are used to locate property within the public surveying system.
Physical Address
A physical address, often referred to as street address, is used to describe where a place is physically located. The location is often under the jurisdiction of an administrative area or a region that has some government function.
Think about it this way, when you are asked to give directions to your home, what do you say? I live at 123 Banana Boat Lane, Anytown, USA. You then begin to detail a course to follow from point A to point B. You may even throw in several landmarks to help navigate to your location.
Bottom Line
It important to know the difference between Legal Property Description and Physical Address. Both are important for different reasons and both relate to where you live and what you own.
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