Business Glossary

In general: statement that describes something, such as a job description.
Real estate: formal depiction of the dimensions and location of a property; generally included in deeds, leases, sales contracts, and mortgage contracts for real property. Specific methods of legal description include government rectangular survey , lot and block , and metes and bounds .

formal depiction of the dimensions and location of a property; generally included in deeds , leases , sales contracts , and mortgage contracts for real property . See government rectangular survey , lot and block , metes and bounds , for specific methods of legal description.

Example: A sales contracts is executed. A portion of the contract contains a description of the property that simply states the street address of the house. In the deed conveyed at closing a more precise metes and bounds description is included based upon a survey of the property.