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In real estate, a Land lot or plot of land is a tract or parcel of land owned or meant to be owned by some owner (s). A plot is essentially considered a parcel of real property in some countries or immovable property (meaning practically the same thing) in other countries. Possible owners of a plot can be one or more persons or another legal ...
The Public Land Survey System ( PLSS) is the surveying method developed and used in the United States to plat, or divide, real property for sale and settling. Also known as the Rectangular Survey System, it was created by the Land Ordinance of 1785 to survey land ceded to the United States by the Treaty of Paris in 1783, following the end of ...
The highest and best use of the site is to demolish the house and sell the site as a commercial lot. The market value would be $225,000 ($250,000 site value minus $25,000 demolition cost). However, if the demolition costs rose to $55,000, the highest and best use would be the existing residential use, because the value as a commercial lot (now ...
The lot and block survey system is a method used in the United States and Canada to locate and identify land, particularly for lots in densely populated metropolitan areas, suburban areas and exurbs. It is sometimes referred to as the recorded plat survey system or the recorded map survey system. [1]
In English common law, real property, real estate, immovable property or, solely in the US and Canada, realty, refers to parcels of land and any associated structures which are the property of a person. In order for a structure (also called an improvement or fixture) to be considered part of the real property, it must be integrated with or ...
for the purpose of sale or of building development: Every division of a piece of land into two or more lots, parcels or parts is, of course, a subdivision. The intention is to cover all subdivision of land where the immediate or ultimate purpose is that of selling the lots or building on them. The object of inserting a definition in the text of ...
A plat map that shows the location of a lot for sale. In the United States, a plat ( / plæt / [ 1] or / plɑːt /) [ 2] ( plan) is a cadastral map, drawn to scale, showing the divisions of a piece of land. United States General Land Office surveyors drafted township plats of Public Lands Surveys to show the distance and bearing between section ...
A real-estate bubble or property bubble (or housing bubble for residential markets) is a type of economic bubble that occurs periodically in local or global real estate markets, and it typically follows a land boom. [1] A land boom is a rapid increase in the market price of real property such as housing until they reach unsustainable levels and ...
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