Property Ownership
Wyoming's government survey system divides land into townships that measure:
A1 mile by 1 mile
B6 miles by 6 miles✓ Correct
C36 miles by 36 miles
D1 square mile
Explanation
A township in the government (rectangular) survey system measures 6 miles by 6 miles, containing 36 square miles. Each township is divided into 36 sections, each measuring 1 mile by 1 mile (640 acres).
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Key Terms to Know
Debt-to-Income Ratio (DTI)
A lender's measure of a borrower's monthly debt obligations relative to their gross monthly income, used to evaluate loan eligibility.
Capitalization Rate (Cap Rate)A rate used to estimate the value of income-producing property, calculated as Net Operating Income divided by property value.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
EasementA non-possessory right to use another person's land for a specific purpose.
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