Land lot

Diagram of an example house plot as seen from above, showing front and back lawns, positions of structures on the plot, and immediate surroundings. The plot boundaries are outlined in black except for the frontage, which is shown in red. In this example, the immediate surroundings include a pavement, parking area, and section of the road out in front and a section of an alley at the back. Plot structures include a house, private walkways, and at the back - a detached garage with a drive access to the alley and a small area for refuse.

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.[1] 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).

Like most other types of property, lots or plots owned by private parties are subject to a periodic property tax payable by the owners to local governments such as a county or municipality. These real estate taxes are based on the assessed value of the real property; additional taxes usually apply to transfer of ownership and property sales. Other fees by government are possible for improvements such as curbs and pavements or an impact fee for building a house on a vacant plot. Property owners in the United States and various other countries are also subject to zoning and other restrictions. These restrictions include building height limits, restrictions on architectural style of buildings and other structures, setback laws, etc.

In New Zealand land lots are generally described as sections.

  1. ^ "FDIC: FIL-90-2005: Residential Tract Development Lending: Frequently Asked Questions". www.fdic.gov. Retrieved 2022-06-28.