What is another word for plottage in real estate?

What is the difference between assemblage and plottage?

Assemblage is the process of joining several parcels to form a larger parcel; the resulting increase in value is called plottage. Assemblage — The combining of two or more adjoining lots into one large tract.

What is new home plottage?

Plottage is an increase in the value of a parcel of real estate when you combine it with another or multiple parcels under one ownership to form a plot with a higher and better use. … Plottage occurs in urban areas where large swaths of land are covered with small individually owed parcels.

How do you calculate Plottage?

The plottage increment refers to the value gained by combining the lots. For example, Steve owns two plots that are right next to each other. Each one is worth $40,000. When combined into a single property, the total value is now $90,000 and the increment is $10,000.

What is an example of assemblage?

An example of an assemblage is a group of people inviting others to join them at a protest. … An example of an assemblage is Robert Rauschenberg’s Canyon, created of various materials such as wood, nails, paper, fabric, paint, metal and other items.

IT IS INTERESTING:  Which credit score is used to buy a house?

What is the difference between a deed and a plat?

Easements within a subdivision – plat maps show the easements associated with a property. The information is compared with deed documents to show legal land use.

What is the difference between a survey and a plat?

What is the difference between a plat and a survey? … One of the main differences is that platting tends to cover more parcels than a land survey. The other main difference is that platting shows planned improvements, while surveys show improvements already made on the land, such as buildings.

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 is Plottage comparison?

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

Is a tree an appurtenance?

Definition: Appurtenance is a noun; describing an item that is attached to something. … An appurtenance can be something tangible like a tree, barn, water tank, or something abstract such as an easement. Example: A fantastic example is if a homeowner installs a new water tank onto his property.

What is highest and best use in real estate?

Highest and Best Use, Defined

The reasonably probable and legal use of vacant land or an improved property that is physically possible, appropriately supported, and financially feasible and that results in the highest value.

IT IS INTERESTING:  Is it bad to buy a car while closing on a house?