What is land assemblage?

Land assemblage is a tactic employed in land acquisition, where a real estate professional acquires two or more adjacent parcels, combining them into one. The process becomes more difficult depending on the number of parcels and landowners.

What is combining two or more adjoining properties called?

The combining of two or more adjoining lots into one large tract. This is usually done to increase the value of the individual lots because a larger building capable of producing a larger net return may be erected on the larger parcel. The resulting added value is called plottage value.

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What is the meaning of plottage?

Definition of plottage

: the area included in a plot of land.

What is land assemblage? – Related Questions

What is the difference between assemblage and Plottage?

When comparing the terms, assemblage and plottage, assemblage refers to the process of combining individual parcels while plottage refers to the increased value of the combined, larger parcel. This distinction is particularly important in transactions that involve eminent domain.

What is assemblage value?

The buyer is likely to be willing to pay more until they reach a point where assemblage of the tracts isn’t feasible. This is a premium is known as assemblage value. Assemblage value is what appraisers will take into consideration when determining the value of the properties together.

What is another word for Plottage?

What is another word for plottage?
lotplot
tract of landreal estate
landestate
stripstretch
expansepiece

What is the meaning of Plottage in real estate?

Plottage is the increase in value realized by combining adjacent parcels of land into one larger parcel. The process of combining the parcels is known as assemblage. Generally, the value of the whole parcel will be greater than the sum of the individual smaller parcels.

What is highest and best use in real estate?

The Appraisal Institute defines highest and best use as “the reasonably probable and legal use of vacant land or an improved property that is physically possible, appropriately supported, financially feasible and that results in the highest value.” Appraisers typically apply four tests to determine that use.

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What does accretion mean in real estate?

accretion. n. 1) in real estate, the increase of the actual land on a stream, lake or sea by the action of water which deposits soil upon the shoreline. Accretion is Mother Nature’s little gift to a landowner.

What’s avulsion in real estate?

Avulsion refers to water quickly submerging land or moving land to another location. In most situations under state property law, land moved by avulsion continues to be the property of the owner of where the land originally was located.

What is the difference between accession and accretion in real estate?

ACCESSION — An addition to property through the efforts of man or by natural forces. ACCRETION — Accession by natural forces, e.g., alluvium.

What is the difference between accretion and Reliction in real estate?

Reliction is when land is exposed due to a natural process that results in the withdrawal of water, such as when a river channel dries up. Accretion occurs when soil and gravel are deposited on a river bank, resulting in a gradual increase in a land area through natural means.

What is the opposite of accretion in real estate?

The opposite of accretion, “erosion” is the gradual washing away of land along the shoreline. However, the sudden and often very perceptible change to a shoreline by natural forces is referred to as “avulsion.

What is the difference between avulsion and accretion?

“Avulsion” is the pushing back of the shoreline by sudden, violent action of the elements, perceptible while in progress. “Accretion” is the process of growth or enlargement by a gradual buildup. “Alluvial” means an increase in land from the flow of water against a shore or bank.

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What are the difference between littoral and riparian rights?

Littoral rights are a landowner’s claim to use of the body of water bordering their property, as well as the use of its shore area. Riparian rights are those rights and obligations awarded to landowners whose property is adjacent to or abutting a river or stream.

Who owns the land under a body of water?

In the event the water is a non-navigable waterway, the landowner generally owns the land beneath the water to the exact center of the waterway. Littoral rights are a type of water rights that pertain to landowners whose land borders large, navigable lakes and oceans.

Who owns the land between High & Low water?

The Crown is the prima facie owner of foreshore, or land between mean high water and mean low water, by virtue of prerogative right. (Halsburys Laws Vol 12 (1), 1998 Reissue,para 242). The same applies to seabed, being land below mean low water.

What is an example of a riparian right?

Examples of riparian rights include the right to build structures like docks or piers, access to the water for the purposes of swimming or fishing, and the right to exclusive use of the water on their property if the water is not navigable.

How do I know if I am a riparian owner?

A riparian owner is anyone who owns a property where there is a watercourse within or adjacent to the boundaries of their property and a watercourse includes a river, stream or ditch. A riparian owner is also responsible for watercourses or culverted watercourses passing through their land.

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