What is the written description called that precisely identifies property, often referred to as the legal description?

The written description that precisely identifies a property is known as the legal description. This legal description is fundamental in real estate as it provides a clear and unambiguous method to identify a specific parcel of land. It often includes details that specify the boundaries of the property, which may involve references to surveys or landmarks, ensuring that the exact location is recognized legally.

The term "Land Description" encompasses this legal formalism, distinguishing it from other terms like leasehold, which refers to a tenant's interest in property under a lease agreement, and chattels, which pertain to movable personal property rather than real estate. Concurrent ownership describes the situation where two or more parties own a property simultaneously, which does not pertain to the specific definition of property identification outlined by the question. Thus, the term "Land Description" encompasses the precise and legal identification of real estate.