Jill Friday – Jack Reeled Me In on a Few Land Deals (LA 1598)

Jill Friday - Jack Reeled Me In on a Few Land Deals (LA 1598) Transcript: Steven J Butala: Steve and Jill here. Jill K DeWit: Happy Friday. Steven J Butala: Welcome to the Land Academy show. Entertaining land investment talk, I'm Steven Jack Butala. Jill K DeWit: And I'm Jill DeWit broadcasting from the valley of the sun. Steven J Butala: Today is Jill Friday, and she talks about how Jack reeled her in on a few land deals. I can't wait to hear what this topic is about because I honestly don't know. Before we get into it, let's take a question posted by one of our members on the landinvestors.com online community. It's free, and don't forget to subscribe on the Land Academy YouTube channel and comment on the shows you like. Jill K DeWit: Let me pause for just a second here about this topic today. It will come back to you because you got frustrated and you were correct. And I'm going to explain a little bit about what goes on. Okay. Back to the question. Chip wrote, "Does anyone have any tools or applications to decipher old deeds and retrieve the legal descriptions? I'm looking for actual meets and bounds legal, not the abstract. I'm using the deed check slash Subdivide 21 software application to map large properties and subdivide them, but finding legible legal descriptions for many of these properties has been challenging. Thanks in advance for any suggestions." Steven J Butala: This is a very intelligent question, a very advanced question. I'll try to put it in terms that everybody can describe. When you do a deed or when a title agent does a deed, there is what's called the legal description, or the deed legal description, and then elsewhere in our title abstract, this is especially for agricultural property and larger properties, there's a meets and bounds description that's a lot longer and a lot more complicated. And it's used for subdividing and a lot of other things. So vast majority of us aren't going to need to know this, but I've included this question in this episode because I want you to know that there are two. Jill K DeWit: Mm-hmm (affirmative). Steven J Butala: And Jill's famous for saying, and she's right, when you go to do a deed, copy the vesting deed, the deed right before it and the chain of title, verbatim, even if there's errors. That's what you need to know. And so Chip's going to do some subdividing here, and I'm going to follow up with him eventually and see how this went, because it's very difficult. Jill K DeWit: Hmm. Well, here's an easy example. So what are you guys talking about? Well, you know what, like a legal description might say Anderson Acres block three lot two. Well, that's great. How am I going to find that? I can't just Google Anderson Acres kind of thing and find it. So there's a real description somewhere else that tells you. Steven J Butala: Mm-hmm (affirmative). Jill K DeWit: And it might be a section, town, [inaudible 00:02:52] ship, township range, and then the Northwest 10 of the Southeast whatever, you have to read it all. There's that kind of descriptions, these are meets and bounds, and then also there's other, well, what they are, they're real ways for you to actually stand somewhere and find the property. Steven J Butala: That's correct. Jill K DeWit: You can go somewhere. For example, we just came back on a vacation. If you saw us on my Facebook stuff on Land Academy Facebook. You saw we were standing at Four Corners, right? Where Colorado, Arizona, New Mexico, and- Steven J Butala: Utah. Jill K DeWit: ... Utah meet. There's actually a spot. People don't realize there's a marker on the ground. So when you're in these sections of property, there's a place to go. There is baseline Meridian. This is back to YouTube if you really want to get into it. This stuff's not arbitrary, and there are places that you can really go and stand and be there. And like in Arizona, there's a place down on baseline where you can find where it start. Steven J Butala: