Escrow & Title
In Louisiana, a 'procès-verbal de bornage' (boundary survey) serves to:
ACalculate property taxes for the parish
BOfficially establish and document the physical boundaries of a parcel of land, often required to resolve boundary disputes or in subdivision of property✓ Correct
CEstimate the market value of a property
DDocument the condition of improvements on the property
Explanation
A procès-verbal de bornage is an official boundary survey document in Louisiana that establishes the exact limits of a property, documenting the location of monuments (bornes) marking the boundaries. It is used to establish or confirm boundaries, often in dispute resolution or land subdivision.
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Key Terms to Know
Comparable Sales (Comps)
Recently sold properties similar in size, condition, and location used by appraisers and agents to estimate a property's market value.
EncumbranceAny claim, lien, charge, or liability attached to real property that affects its value or limits its use.
AppraisalA professional estimate of a property's market value prepared by a licensed or certified appraiser.
Capitalization Rate (Cap Rate)A rate used to estimate the value of income-producing property, calculated as Net Operating Income divided by property value.
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