Boundary What It Means In Real Estate

Boundary What It Means In Real Estate

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Founded in 1976, Bankrate has a long track record of helping people make smart financial choices. We’ve maintained this reputation for over four decades by demystifying the financial decision-making process and giving people confidence in which actions to take next. Bankrate follows a strict , so you can trust that we’re putting your interests first. All of our content is authored by and edited by , who ensure everything we publish is objective, accurate and trustworthy. Buying or selling a home is one of the biggest financial decisions an individual will ever make. Our real estate reporters and editors focus on educating consumers about this life-changing transaction and how to navigate the complex and ever-changing housing market. From finding an agent to closing and beyond, our goal is to help you feel confident that you're making the best, and smartest, real estate deal possible. Bankrate logo

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You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey. Bankrate follows a strict , so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money. Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service. When you buy a house, you typically also purchase the property the house sits on. Before you start landscaping or making any kind of changes, you’ll need to consider the boundaries that outline what you actually own. A property boundary is the specific location surrounding a piece of real estate that denotes the edge of the owner’s claim. Property lines define what the homeowner owns — as well as where he or she can be held liable for negligent acts that might occur.

What is a boundary

Property lines, or boundary lines, are the outlined edges of any parcel of property. Real estate boundaries are generally based on county or city-defined guidelines. The property owner can use these lines as guidance when determining where to build or place things belonging to them, as well as to manage liability risks. Property boundary lines are often listed with the county or city assessor’s office. Often, also contain a description of the property lines. This will include specific measurements to describe the actual location of the property at the time of sale. Maps available at a county recorder’s office can also shed light on specific concerns. A provides the clearest outline of property ownership based on boundaries. For example, if a homeowner is planning to sell their home, or a buyer wishes to understand the true amount of property obtained in a sale, they can request a property survey. They also come in very handy in the case of a between neighbors. Some properties may have allowing others to legally use or access the property even though it is privately owned. For example, many utility companies have easements that allow them to cross property boundaries in order to maintain power or water lines.

Boundary example

Here’s a practical example of how boundaries come into play in real estate. Let’s say the Smith family’s property extends 80 feet from the road. The boundary line is also listed as mapping coordinates on the property’s deed. The Smiths want to plant a garden toward the edge of their yard, and this allows them to know exactly where they can place it. In case of a disagreement over fencing or land use, the Smith family has documentation showing their ownership and, therefore, rights to use the land.

Bottom line

A boundary is the official line that legally delineates where one property ends and another begins. As a homeowner, knowing exactly where your property boundaries are can help you decide where to build things, like a fence, garden shed or driveway, without running into problems. SHARE: Rae Hartley Beck is a writer and editor with over eight years of experience in personal finance. Her work has most recently appeared in Bankrate, MoneyWise and Investopedia. Rae specializes in credit card rewards, investing, real estate, home improvement, lending and financial advice for millennials, Gen Z, Gen Alpha and their parents.

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