Platted land can be confusing for many in the real estate industry. In this article, we are going to discuss the basics of legal descriptions and property types when it comes to platted land.
Legal Descriptions of Platted Land
When a plat is recorded, its legal description replaces the previous legal description for that piece of land (whether the previous description was from a prior plat or a metes and bounds description). In essence, a plat “wipes the slate clean” and offers a fresh start for the legal description of the land in question.
Another element you need to consider when dealing with platted land is the property type. A lot of land in Minnesota is a mixture of both abstract and Torrens property. When recording a new plat in many counties across the state, you will be required to convert all land in the plat to Torrens property. Thus, it is important to understand the types of property that exist in the plat you are working on so you can avoid potential confusion.
Get Help with Your Commercial Transaction
If you’re having issues with platted land, contact the commercial real estate experts at Commercial Partners Title Company. We have decades of experience facilitating transactions for clients in Minnesota and across the country. We are recognized as experts in the field of commercial title insurance. Contact us today to learn more about the full range of our services and to set up a time to discuss the details of your next commercial transaction. You can find us at our offices located in downtown Minneapolis.