Lot (real estate) in the context of "Land development"

⭐ In the context of land development, a lot (real estate) is most commonly created as a result of what process?




⭐ Core Definition: Lot (real estate)

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 entity, such as a company, corporation, organization, government, or trust. A common form of ownership of a plot is called fee simple in some countries.

A small area of land that is empty except for a paved surface or similar improvement, typically all used for the same purpose or in the same state is also often called a plot. Examples are a paved car park or a cultivated garden plot. This article covers plots (more commonly called lots in some countries) as defined parcels of land meant to be owned as units by an owner(s).

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👉 Lot (real estate) in the context of Land development

Land development is the alteration of landscape in any number of ways, such as:

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Lot (real estate) in the context of Site planning

A site plan or a plot plan is a type of drawing used by architects, landscape architects, urban planners, and engineers which shows existing and proposed conditions for a given area, typically a parcel of land which is to be modified. Site plans typically show buildings, roads, sidewalks and paths/trails, parking, drainage facilities, sanitary sewer lines, water lines, lighting, and landscaping and garden elements.

Such a plan of a site is a "graphic representation of the arrangement of buildings, parking, drives, landscaping and any other structure that is part of a development project".

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Lot (real estate) in the context of Plat

In the United States, a plat (/plæt/ or /plɑːt/) (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 corners, sometimes including topographic or vegetation information. City, town or village plats show subdivisions broken into blocks with streets and alleys. Further refinement often splits blocks into individual lots, usually for the purpose of selling the described lots; this has become known as subdivision.

After the filing of a plat, legal descriptions can refer to block and lot-numbers rather than portions of sections. In order for plats to become legally valid, a local governing body, such as a public works department, urban planning commission, zoning board, or another organ of the state must normally review and approve them.

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