What key information is contained within the 'Property' section of the agreement?

The 'Property' section of a real estate agreement is essential as it provides crucial details about the specific property involved in the transaction. This section typically includes the legal description of the property, which is a detailed and unique identifier of the property that can include information such as boundaries, lot numbers, or metes and bounds descriptions. In addition to the legal description, this section also includes the address of the property, which is vital for identifying the location and ensuring clear communication regarding the property in question.

Having the legal description and address accurately documented helps to avoid any confusion or disputes regarding the property being sold or leased. Such clarity is fundamental to the agreement, as it delineates exactly what is being transferred or discussed, which is pivotal for both parties involved in the transaction.