I am creating a contract for the seller. But the form I have has a field for Legal Description. Is this the address or do I need to look up the parcel number from the county? Thanks for the help.
You need to check with your local laws in order to answer that question. I have seen both the regular address and the parcel id number in that slot. Check with an attorney for the correct answer.
Thanks for the response. Ill give an attorney a call first thing in the morning.
you may want to view my agreement Here
It's at the bottom of the page
The legal description is neither the address, or the property control number. It will look like....lot # of block # of subdivision name, if in a subdivision, PUD, etc. or it could be...the north x' of the north 1/4 of the se 1/4 of the west half of section #, township #, etc. Or a meets and bounds description...starting at the sw corner of section#, going 90 degrees south, 0 degrees east for a distance of x', to a point of beginning, etc.
Just an observation, if you don't know what a legal description looks like, I don't think you should be helping someone fill out a purchase contract. There are way too many legal variables involved, and whatever contract you're using may not meet your seller's needs. Definitely get an attorney's help.
The legal description is how the property is identified in all county records and in all documents such as deed of trust (Missouri) or a mortgage (Kansas). The address is just to make it less cumbersome but the legal description is the official identifier of the property.
You can contact a local title company and they can help you get the legal description. They will also provide it if you open escrow with them once you have it under contract. Do not worry about including it in the contract when you first make the offer, it can be added later.
If the property is in a jurisdiction that allows online searches of tax records or recorded property records, you can look up past records involving that property or property owner to see if a recorded document includes the legal description.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing